Stryker (NYSE:SYK) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Stryker (NYSE:SYK) announced its quarterly earnings data on Thursday. The medical technology company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02, MarketWatch Earnings reports. Stryker had a net margin of 11.38% and a return on equity of 20.53%. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.63 billion.

NYSE SYK opened at $193.30 on Friday. Stryker has a 12 month low of $124.54 and a 12 month high of $226.30. The stock has a market cap of $72.45 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 3.36 and a beta of 0.84. The company’s 50 day moving average is $186.61 and its two-hundred day moving average is $189.31. The company has a current ratio of 2.58, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Tuesday, September 29th. Stryker’s payout ratio is 27.85%.

SYK has been the topic of several recent analyst reports. Raymond James cut their price objective on shares of Stryker from $240.00 to $205.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. JPMorgan Chase & Co. cut their price objective on shares of Stryker from $240.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Deutsche Bank cut their price objective on shares of Stryker from $243.00 to $228.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Citigroup increased their price objective on shares of Stryker from $227.00 to $232.00 and gave the company a “buy” rating in a research report on Friday. Finally, Zacks Investment Research downgraded shares of Stryker from a “hold” rating to a “sell” rating and set a $190.00 price objective on the stock. in a research report on Monday, May 4th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $216.25.

In other Stryker news, CFO Glenn S. Boehnlein sold 10,351 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $185.24, for a total transaction of $1,917,419.24. Following the sale, the chief financial officer now owns 16,321 shares in the company, valued at approximately $3,023,302.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Srikant M. Datar sold 200 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $194.32, for a total transaction of $38,864.00. Following the sale, the director now owns 17,686 shares in the company, valued at approximately $3,436,743.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,670 shares of company stock worth $5,775,251. 6.80% of the stock is owned by company insiders.

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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Earnings History for Stryker (NYSE:SYK)

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