Zacks: Brokerages Anticipate Stryker Co. (NYSE:SYK) to Announce $1.90 Earnings Per Share

Brokerages predict that Stryker Co. (NYSE:SYK) will post earnings of $1.90 per share for the current quarter, according to Zacks. Ten analysts have made estimates for Stryker’s earnings, with estimates ranging from $1.89 to $1.92. Stryker reported earnings of $1.69 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.4%. The firm is expected to report its next quarterly earnings report on Thursday, October 24th.

On average, analysts expect that Stryker will report full-year earnings of $8.21 per share for the current year, with EPS estimates ranging from $8.15 to $8.24. For the next fiscal year, analysts expect that the firm will report earnings of $9.01 per share, with EPS estimates ranging from $8.91 to $9.07. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Stryker.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.05. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The firm had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same period in the prior year, the business posted $1.76 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis.

Several brokerages have recently weighed in on SYK. BTIG Research set a $228.00 price target on Stryker and gave the company a “buy” rating in a research report on Thursday, September 5th. Raymond James set a $240.00 price target on Stryker and gave the company a “buy” rating in a research report on Friday, July 26th. Piper Jaffray Companies reiterated a “buy” rating on shares of Stryker in a research report on Wednesday, September 4th. Wells Fargo & Co boosted their price objective on Stryker from $219.00 to $228.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Finally, Cantor Fitzgerald boosted their price objective on Stryker from $190.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Stryker currently has a consensus rating of “Buy” and an average price target of $214.89.

In other Stryker news, insider Timothy J. Scannell sold 4,666 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $197.68, for a total value of $922,374.88. Following the completion of the sale, the insider now owns 155,347 shares of the company’s stock, valued at $30,708,994.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $214.16, for a total value of $578,232.00. Following the completion of the sale, the chief financial officer now directly owns 20,633 shares of the company’s stock, valued at approximately $4,418,763.28. The disclosure for this sale can be found here. Insiders have sold 20,447 shares of company stock valued at $4,262,634 in the last three months. 7.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. River & Mercantile Asset Management LLP purchased a new stake in Stryker in the second quarter worth approximately $154,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Stryker by 3.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 69,342 shares of the medical technology company’s stock worth $14,255,000 after buying an additional 2,524 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Stryker in the second quarter worth approximately $60,571,000. Toronto Dominion Bank boosted its stake in Stryker by 0.7% in the second quarter. Toronto Dominion Bank now owns 223,261 shares of the medical technology company’s stock worth $45,885,000 after buying an additional 1,487 shares in the last quarter. Finally, Atria Investments LLC boosted its stake in Stryker by 7.5% in the second quarter. Atria Investments LLC now owns 16,684 shares of the medical technology company’s stock worth $3,606,000 after buying an additional 1,171 shares in the last quarter. 73.01% of the stock is owned by institutional investors and hedge funds.

Shares of SYK traded down $1.86 during midday trading on Friday, hitting $218.18. 721,830 shares of the company traded hands, compared to its average volume of 1,205,163. The stock has a 50-day moving average of $216.54 and a 200-day moving average of $199.54. Stryker has a one year low of $144.75 and a one year high of $223.45. The firm has a market cap of $82.34 billion, a P/E ratio of 29.85, a PEG ratio of 2.59 and a beta of 0.83. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.07 and a quick ratio of 1.26.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, September 27th. Stryker’s payout ratio is 28.45%.

About Stryker

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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