Zacks: Brokerages Anticipate Stryker Co. (SYK) to Announce $1.83 Earnings Per Share

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Analysts expect Stryker Co. (NYSE:SYK) to report $1.83 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have provided estimates for Stryker’s earnings, with estimates ranging from $1.77 to $1.87. Stryker reported earnings per share of $1.68 during the same quarter last year, which suggests a positive year over year growth rate of 8.9%. The firm is expected to issue its next quarterly earnings report on Thursday, April 25th.

According to Zacks, analysts expect that Stryker will report full-year earnings of $8.12 per share for the current financial year, with EPS estimates ranging from $7.96 to $8.17. For the next fiscal year, analysts expect that the business will report earnings of $8.94 per share, with EPS estimates ranging from $8.83 to $9.07. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Stryker.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 29th. The medical technology company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.73 billion. Stryker had a return on equity of 27.60% and a net margin of 26.12%.

Several research firms have recently weighed in on SYK. Canaccord Genuity lifted their price objective on Stryker from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, January 30th. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $199.00 price target on the stock in a research report on Monday, February 4th. Morgan Stanley reduced their price target on Stryker from $212.00 to $197.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 2nd. Royal Bank of Canada boosted their price target on Stryker from $184.00 to $204.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Stryker in a research report on Friday, January 18th. Seven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Stryker currently has a consensus rating of “Buy” and an average price target of $188.35.

In other news, insider Timothy J. Scannell sold 9,332 shares of the business’s stock in a transaction that occurred on Tuesday, December 18th. The stock was sold at an average price of $161.60, for a total value of $1,508,051.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Katherine Ann Owen sold 29,247 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.62, for a total value of $5,428,828.14. Following the completion of the sale, the vice president now owns 11,131 shares of the company’s stock, valued at $2,066,136.22. The disclosure for this sale can be found here. Insiders have sold a total of 74,811 shares of company stock worth $13,409,320 over the last 90 days. 7.30% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of SYK. BlackRock Inc. boosted its position in Stryker by 4.1% during the 4th quarter. BlackRock Inc. now owns 24,882,912 shares of the medical technology company’s stock valued at $3,900,399,000 after purchasing an additional 975,678 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Stryker by 8,029.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,075,473 shares of the medical technology company’s stock valued at $39,000 after purchasing an additional 6,000,739 shares during the period. FMR LLC boosted its position in Stryker by 6.3% during the 4th quarter. FMR LLC now owns 5,934,622 shares of the medical technology company’s stock valued at $930,251,000 after purchasing an additional 353,028 shares during the period. Capital International Investors acquired a new position in Stryker during the 3rd quarter worth $831,822,000. Finally, Northern Trust Corp boosted its position in Stryker by 3.6% during the 4th quarter. Northern Trust Corp now owns 3,857,399 shares of the medical technology company’s stock worth $604,647,000 after acquiring an additional 132,857 shares during the period. Institutional investors and hedge funds own 75.46% of the company’s stock.

Shares of NYSE SYK traded up $0.69 during midday trading on Friday, hitting $194.04. The stock had a trading volume of 1,734,335 shares, compared to its average volume of 1,481,983. The firm has a market capitalization of $71.49 billion, a P/E ratio of 26.54, a P/E/G ratio of 2.34 and a beta of 0.88. Stryker has a 1-year low of $144.75 and a 1-year high of $194.80. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.02 and a quick ratio of 1.41.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, March 28th. This represents a $2.08 annualized dividend and a yield of 1.07%. Stryker’s dividend payout ratio is presently 28.45%.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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