The FY2017 EPS Estimates for Stryker Co. (SYK) Increased by Leerink Swann – Petro Global News 24

Stryker Co. (NYSE:SYK) Leerink Swann lifted their FY2017 earnings per share estimates for shares of Stryker in a report issued on Monday. Leerink Swann analyst R. Newitter now anticipates that the firm will post earnings per share of $6.40 for the year, up from their previous forecast of $6.39. Leerink Swann also issued estimates for Strykers FY2018 earnings at $7.14 EPS.

Several other brokerages have also weighed in on SYK. Needham & Company LLC reissued a sell rating on shares of Stryker in a report on Wednesday, January 25th. Wells Fargo & Co reissued an outperform rating and issued a $134.50 price objective on shares of Stryker in a report on Saturday, January 28th. Jefferies Group LLC lifted their price objective on Stryker from $120.00 to $132.00 and gave the stock a hold rating in a report on Wednesday, January 25th. Edward Jones lowered Stryker from a buy rating to a hold rating in a report on Thursday, January 5th. Finally, Zacks Investment Research raised Stryker from a hold rating to a buy rating and set a $125.00 price objective for the company in a report on Monday, December 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $127.74.

Stryker (NYSE:SYK) opened at 132.38 on Wednesday. Stryker has a 1-year low of $104.34 and a 1-year high of $133.59. The stock has a 50 day moving average price of $127.53 and a 200 day moving average price of $119.14. The firm has a market cap of $49.36 billion, a P/E ratio of 30.43 and a beta of 0.80.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 24th. The medical technology company reported $1.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters consensus estimate of $1.76 by $0.02. Stryker had a return on equity of 23.86% and a net margin of 14.54%. The company earned $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the firm posted $1.56 earnings per share. The firms revenue was up 16.3% compared to the same quarter last year.

A number of hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in Stryker by 1.7% in the third quarter. Capital Research Global Investors now owns 33,537,131 shares of the medical technology companys stock worth $3,904,057,000 after buying an additional 556,349 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Stryker by 6.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 17,503,094 shares of the medical technology companys stock worth $2,037,535,000 after buying an additional 1,022,233 shares during the last quarter. State Street Corp increased its stake in Stryker by 3.1% in the fourth quarter. State Street Corp now owns 13,774,848 shares of the medical technology companys stock worth $1,650,599,000 after buying an additional 419,118 shares during the last quarter. Franklin Resources Inc. increased its stake in Stryker by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 12,270,194 shares of the medical technology companys stock worth $1,470,104,000 after buying an additional 265,300 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Stryker by 1.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 8,620,753 shares of the medical technology companys stock worth $1,003,542,000 after buying an additional 95,303 shares during the last quarter. Institutional investors own 75.29% of the companys stock.

In other news, Director Louise Francesconi sold 3,716 shares of Stryker stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $122.34, for a total transaction of $454,615.44. Following the completion of the sale, the director now owns 20,242 shares in the company, valued at approximately $2,476,406.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Yin C. Becker sold 11,660 shares of Stryker stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $120.22, for a total value of $1,401,765.20. Following the sale, the vice president now owns 28,599 shares of the companys stock, valued at approximately $3,438,171.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,968 shares of company stock valued at $5,202,715. Corporate insiders own 7.80% of the companys stock.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, March 31st will be given a dividend of $0.425 per share. The ex-dividend date is Wednesday, March 29th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.28%. Strykers dividend payout ratio (DPR) is presently 39.08%.

About Stryker

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 Companys 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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The FY2017 EPS Estimates for Stryker Co. (SYK) Increased by Leerink Swann - Petro Global News 24