“On 1/9/18, SYK preannounced 4Q17 revenue that was above consensus. Management refrained from providing 2018 guidance, however, and plans to provide this on its 4Q17 call on Tuesday, 1/30/18. Although there was no guidance, management did indicate that tax reform would create a modest headwind” to its earnings in 2018. SYK placed 35 Mako systems in 4Q17, which was up modestly from 33 in 3Q17 and 32 in 4Q16; SYK noted that Mako helped to drive 10.5% US knee growth in 4Q17. Clearly 4Q17 was another strong quarter for SYK but we maintain our Hold rating given its valuation (2018E P/E of 22.5x, which is approximately in line with its large-cap peers’ median of 22.9x).”,” Needham & Company LLC’s analyst wrote.
A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. raised shares of Stryker from a neutral rating to an overweight rating in a research note on Tuesday, January 2nd. Robert W. Baird upgraded shares of Stryker from a neutral rating to an outperform rating and increased their target price for the company from $161.00 to $173.00 in a report on Thursday, November 16th. Zacks Investment Research downgraded shares of Stryker from a hold rating to a sell rating in a report on Monday, October 16th. BMO Capital Markets upgraded shares of Stryker to a market perform rating and set a $163.00 target price for the company in a report on Tuesday, December 12th. Finally, SunTrust Banks reiterated a buy rating and issued a $161.00 target price on shares of Stryker in a report on Friday, November 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Stryker has a consensus rating of Hold and a consensus target price of $156.60.
Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.02. Stryker had a net margin of 14.67% and a return on equity of 24.11%. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period last year, the firm earned $1.39 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. sell-side analysts forecast that Stryker will post 6.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, December 28th. This is an increase from Stryker’s previous quarterly dividend of $0.43. Stryker’s dividend payout ratio (DPR) is 40.09%.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $155.34, for a total transaction of $776,700.00. Following the completion of the sale, the insider now owns 83,207 shares in the company, valued at $12,925,375.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SYK. Beach Investment Management LLC. purchased a new stake in Stryker during the second quarter worth about $1,924,000. First National Trust Co. boosted its position in Stryker by 6.2% during the second quarter. First National Trust Co. now owns 9,625 shares of the medical technology company’s stock worth $1,336,000 after purchasing an additional 561 shares during the period. Victory Capital Management Inc. boosted its position in Stryker by 12.8% during the second quarter. Victory Capital Management Inc. now owns 19,892 shares of the medical technology company’s stock worth $2,761,000 after purchasing an additional 2,253 shares during the period. Aviva PLC boosted its position in Stryker by 2.6% during the second quarter. Aviva PLC now owns 209,048 shares of the medical technology company’s stock worth $29,014,000 after purchasing an additional 5,330 shares during the period. Finally, Blue Chip Partners Inc. boosted its position in Stryker by 0.3% during the second quarter. Blue Chip Partners Inc. now owns 1,781 shares of the medical technology company’s stock worth $247,000 after purchasing an additional 6 shares during the period. Institutional investors and hedge funds own 74.88% of the company’s stock.
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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