Stryker Co. (NYSE:SYK) Expected to Post Quarterly Sales of $3.58 Billion

Equities research analysts expect Stryker Co. (NYSE:SYK) to report $3.58 billion in sales for the current quarter, Zacks reports. Ten analysts have issued estimates for Stryker’s earnings, with the lowest sales estimate coming in at $3.55 billion and the highest estimate coming in at $3.61 billion. Stryker reported sales of $3.24 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 10.5%. The company is scheduled to report its next quarterly earnings results after the market closes on Tuesday, October 29th.

On average, analysts expect that Stryker will report full-year sales of $14.87 billion for the current fiscal year, with estimates ranging from $14.81 billion to $14.94 billion. For the next fiscal year, analysts expect that the company will post sales of $15.89 billion, with estimates ranging from $15.71 billion to $16.02 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Stryker.

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

Several research firms recently issued reports on SYK. Piper Jaffray Companies reissued a “buy” rating on shares of Stryker in a report on Wednesday, September 4th. Cantor Fitzgerald increased their target price on shares of Stryker from $190.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Raymond James set a $240.00 target price on shares of Stryker and gave the stock a “buy” rating in a report on Friday, July 26th. Wells Fargo & Co increased their target price on shares of Stryker from $219.00 to $228.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada set a $220.00 target price on shares of Stryker and gave the stock a “buy” rating in a report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $214.89.

In other Stryker news, Director Srikant M. Datar sold 350 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $215.00, for a total transaction of $75,250.00. Following the completion of the sale, the director now directly owns 6,844 shares of the company’s stock, valued at approximately $1,471,460. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Katherine Ann Owen sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $216.30, for a total transaction of $540,750.00. Following the sale, the vice president now directly owns 5,349 shares of the company’s stock, valued at $1,156,988.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,637 shares of company stock valued at $11,240,206. Insiders own 7.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SYK. Vanguard Group Inc. grew its holdings in shares of Stryker by 2.1% in the second quarter. Vanguard Group Inc. now owns 26,735,288 shares of the medical technology company’s stock valued at $5,496,241,000 after purchasing an additional 555,327 shares in the last quarter. FMR LLC grew its holdings in shares of Stryker by 13.4% in the first quarter. FMR LLC now owns 6,728,182 shares of the medical technology company’s stock valued at $1,328,951,000 after purchasing an additional 793,560 shares in the last quarter. Fundsmith LLP grew its holdings in shares of Stryker by 1.0% in the first quarter. Fundsmith LLP now owns 5,581,841 shares of the medical technology company’s stock valued at $1,102,525,000 after purchasing an additional 52,688 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Stryker by 0.5% in the second quarter. Northern Trust Corp now owns 3,922,830 shares of the medical technology company’s stock valued at $806,455,000 after purchasing an additional 19,248 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Stryker by 20,218.6% in the second quarter. Nuveen Asset Management LLC now owns 2,596,110 shares of the medical technology company’s stock valued at $533,708,000 after purchasing an additional 2,583,333 shares in the last quarter. 72.95% of the stock is owned by institutional investors and hedge funds.

Stryker stock traded up $2.36 during midday trading on Tuesday, hitting $215.49. The stock had a trading volume of 694,078 shares, compared to its average volume of 1,189,670. The firm’s fifty day moving average is $217.61 and its two-hundred day moving average is $202.39. The company has a market capitalization of $79.73 billion, a PE ratio of 29.48, a P/E/G ratio of 2.58 and a beta of 0.81. Stryker has a 52-week low of $144.75 and a 52-week high of $223.45. The company has a current ratio of 2.07, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Friday, September 27th. Stryker’s dividend payout ratio (DPR) is currently 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.

Featured Story: Balance Sheet

Get a free copy of the Zacks research report on Stryker (SYK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Stryker (NYSE:SYK)

Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.