SunTrust Banks Equities Analysts Increase Earnings Estimates for Stryker Corporation (SYK)
Stryker Corporation (NYSE:SYK) – Stock analysts at SunTrust Banks upped their Q2 2018 earnings per share (EPS) estimates for Stryker in a research note issued on Tuesday. SunTrust Banks analyst B. Nudell now anticipates that the medical technology company will post earnings per share of $1.70 for the quarter, up from their prior forecast of $1.69. SunTrust Banks currently has a “Buy” rating and a $179.00 price target on the stock. SunTrust Banks also issued estimates for Stryker’s Q1 2019 earnings at $1.73 EPS, Q2 2019 earnings at $1.86 EPS, Q3 2019 earnings at $1.82 EPS and Q4 2019 earnings at $2.39 EPS.
Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 30th. The medical technology company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.95 by $0.01. Stryker had a net margin of 8.20% and a return on equity of 24.55%. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. Stryker’s quarterly revenue was up 9.9% on a year-over-year basis.
Stryker (NYSE SYK) traded up $0.69 during midday trading on Thursday, reaching $148.70. 231,685 shares of the company’s stock traded hands, compared to its average volume of 1,434,909. Stryker has a 1 year low of $122.78 and a 1 year high of $170.00. The company has a current ratio of 2.29, a quick ratio of 1.59 and a debt-to-equity ratio of 0.66. The company has a market cap of $57,509.09, a PE ratio of 23.68, a price-to-earnings-growth ratio of 2.21 and a beta of 0.70.
A number of large investors have recently modified their holdings of the stock. Arizona State Retirement System boosted its holdings in Stryker by 2.0% during the fourth quarter. Arizona State Retirement System now owns 110,481 shares of the medical technology company’s stock worth $17,107,000 after buying an additional 2,133 shares in the last quarter. State of Wisconsin Investment Board boosted its holdings in Stryker by 4.8% during the fourth quarter. State of Wisconsin Investment Board now owns 463,899 shares of the medical technology company’s stock worth $71,830,000 after buying an additional 21,439 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in Stryker by 5.8% during the fourth quarter. D.A. Davidson & CO. now owns 46,749 shares of the medical technology company’s stock worth $7,239,000 after buying an additional 2,582 shares in the last quarter. Independence Bank of Kentucky bought a new stake in Stryker during the fourth quarter worth approximately $181,000. Finally, Advisory Services Network LLC boosted its holdings in Stryker by 319.6% during the fourth quarter. Advisory Services Network LLC now owns 14,167 shares of the medical technology company’s stock worth $2,194,000 after buying an additional 10,791 shares in the last quarter. Hedge funds and other institutional investors own 74.85% of the company’s stock.
In related news, VP William E. Berry, Jr. sold 1,306 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $164.42, for a total transaction of $214,732.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Graham A. Mclean sold 2,984 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $160.53, for a total transaction of $479,021.52. Following the sale, the insider now owns 9,100 shares of the company’s stock, valued at $1,460,823. The disclosure for this sale can be found here. Insiders sold 16,840 shares of company stock valued at $2,749,989 over the last quarter. Insiders own 7.40% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Wednesday, March 28th. Stryker’s dividend payout ratio (DPR) is presently 70.15%.
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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