Piper Jaffray Companies Comments on Stryker Co.’s FY2018 Earnings (SYK)

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Stryker Co. (NYSE:SYK) – Equities research analysts at Piper Jaffray Companies boosted their FY2018 earnings per share estimates for Stryker in a research report issued on Thursday, October 25th. Piper Jaffray Companies analyst M. O’brien now anticipates that the medical technology company will post earnings of $7.27 per share for the year, up from their prior forecast of $7.25. Piper Jaffray Companies also issued estimates for Stryker’s Q4 2018 earnings at $2.14 EPS, Q3 2019 earnings at $1.83 EPS, Q4 2019 earnings at $2.38 EPS, FY2019 earnings at $7.98 EPS and FY2020 earnings at $8.74 EPS.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, October 25th. The medical technology company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.01. Stryker had a return on equity of 28.00% and a net margin of 9.31%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.26 billion.

Several other equities research analysts also recently issued reports on SYK. Oppenheimer set a $170.00 price target on Stryker and gave the company a “hold” rating in a report on Friday, October 26th. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Tuesday. Canaccord Genuity reissued a “buy” rating and set a $185.00 target price on shares of Stryker in a report on Wednesday, July 25th. Citigroup lifted their target price on Stryker from $171.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, July 25th. Finally, BMO Capital Markets reissued a “hold” rating and set a $174.00 target price on shares of Stryker in a report on Thursday, July 12th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $181.15.

Shares of Stryker stock opened at $162.04 on Monday. Stryker has a 1 year low of $146.80 and a 1 year high of $179.84. The firm has a market cap of $59.98 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 2.25 and a beta of 0.59. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.91 and a quick ratio of 1.21.

A number of hedge funds have recently bought and sold shares of the stock. CapWealth Advisors LLC grew its position in Stryker by 0.8% in the second quarter. CapWealth Advisors LLC now owns 40,753 shares of the medical technology company’s stock valued at $6,882,000 after acquiring an additional 310 shares during the last quarter. Benedict Financial Advisors Inc. grew its position in Stryker by 7.2% in the second quarter. Benedict Financial Advisors Inc. now owns 4,681 shares of the medical technology company’s stock valued at $790,000 after acquiring an additional 313 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Stryker by 1.5% in the second quarter. Janney Montgomery Scott LLC now owns 21,307 shares of the medical technology company’s stock valued at $3,598,000 after acquiring an additional 316 shares during the last quarter. Associated Banc Corp grew its position in Stryker by 12.2% in the second quarter. Associated Banc Corp now owns 2,994 shares of the medical technology company’s stock valued at $506,000 after acquiring an additional 325 shares during the last quarter. Finally, North Star Asset Management Inc. grew its position in Stryker by 0.3% in the third quarter. North Star Asset Management Inc. now owns 96,053 shares of the medical technology company’s stock valued at $17,067,000 after acquiring an additional 328 shares during the last quarter. 75.21% of the stock is owned by institutional investors and hedge funds.

In related news, CFO Glenn S. Boehnlein sold 750 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $178.17, for a total value of $133,627.50. Following the completion of the transaction, the chief financial officer now owns 2,785 shares of the company’s stock, valued at $496,203.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Katherine Ann Owen sold 37,866 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $166.84, for a total value of $6,317,563.44. Following the completion of the transaction, the vice president now directly owns 11,367 shares of the company’s stock, valued at approximately $1,896,470.28. The disclosure for this sale can be found here. 7.30% of the stock is owned by insiders.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, September 27th. Stryker’s dividend payout ratio is currently 28.97%.

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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Earnings History and Estimates for Stryker (NYSE:SYK)

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