Northcoast Research Analysts Boost Earnings Estimates for Stryker Co. (SYK)

Stryker Co. (NYSE:SYK) – Northcoast Research upped their Q3 2020 earnings estimates for Stryker in a report released on Wednesday, April 24th. Northcoast Research analyst D. Keiser now anticipates that the medical technology company will post earnings per share of $2.12 for the quarter, up from their prior estimate of $2.11.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. Stryker had a net margin of 25.38% and a return on equity of 27.58%. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the previous year, the business earned $1.68 earnings per share. Stryker’s revenue for the quarter was up 8.5% compared to the same quarter last year.

A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $209.00 price target on the stock in a research note on Thursday. Oppenheimer lifted their price target on Stryker from $183.00 to $192.00 and gave the stock an “outperform” rating in a research note on Wednesday. Robert W. Baird lifted their price target on Stryker from $201.00 to $206.00 and gave the stock an “outperform” rating in a research note on Wednesday. Deutsche Bank lifted their price target on Stryker from $181.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Canaccord Genuity lifted their price target on Stryker from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $196.44.

Shares of Stryker stock opened at $188.28 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.41 and a debt-to-equity ratio of 0.72. Stryker has a 52 week low of $144.75 and a 52 week high of $199.85. The stock has a market capitalization of $70.25 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 2.27 and a beta of 0.88.

A number of large investors have recently added to or reduced their stakes in SYK. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Stryker by 6.1% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 49,309 shares of the medical technology company’s stock valued at $9,740,000 after buying an additional 2,844 shares in the last quarter. Securian Asset Management Inc grew its stake in shares of Stryker by 0.6% in the 1st quarter. Securian Asset Management Inc now owns 32,154 shares of the medical technology company’s stock valued at $6,351,000 after buying an additional 196 shares in the last quarter. Farmers & Merchants Investments Inc. grew its stake in shares of Stryker by 2.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 51,294 shares of the medical technology company’s stock valued at $10,132,000 after buying an additional 1,012 shares in the last quarter. FTB Advisors Inc. grew its stake in shares of Stryker by 17.9% in the 1st quarter. FTB Advisors Inc. now owns 3,725 shares of the medical technology company’s stock valued at $735,000 after buying an additional 565 shares in the last quarter. Finally, CENTRAL TRUST Co grew its stake in shares of Stryker by 8.5% in the 1st quarter. CENTRAL TRUST Co now owns 23,046 shares of the medical technology company’s stock valued at $4,552,000 after buying an additional 1,803 shares in the last quarter. 74.67% of the stock is currently owned by institutional investors.

In other Stryker news, Chairman Kevin Lobo sold 41,750 shares of Stryker stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $194.11, for a total transaction of $8,104,092.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Yin C. Becker sold 15,240 shares of Stryker stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $198.03, for a total value of $3,017,977.20. Following the transaction, the vice president now directly owns 16,577 shares in the company, valued at approximately $3,282,743.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,455 shares of company stock worth $24,723,292. Company insiders own 7.20% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $2.08 annualized dividend and a yield of 1.10%. Stryker’s dividend payout ratio (DPR) is presently 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.

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Earnings History and Estimates for Stryker (NYSE:SYK)

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