Zacks: Analysts Expect Stryker Co. (SYK) Will Announce Quarterly Sales of $3.60 Billion

Brokerages expect Stryker Co. (NYSE:SYK) to post sales of $3.60 billion for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Stryker’s earnings. The highest sales estimate is $3.62 billion and the lowest is $3.58 billion. Stryker posted sales of $3.32 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.4%. The business is scheduled to issue its next quarterly earnings report on Tuesday, July 23rd.

According to Zacks, analysts expect that Stryker will report full-year sales of $14.80 billion for the current financial year, with estimates ranging from $14.73 billion to $14.86 billion. For the next financial year, analysts expect that the company will report sales of $15.80 billion, with estimates ranging from $15.63 billion to $15.91 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Stryker.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.04. Stryker had a net margin of 25.38% and a return on equity of 26.72%. The firm had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the prior year, the firm posted $1.68 earnings per share. Stryker’s quarterly revenue was up 8.5% on a year-over-year basis.

A number of research analysts have commented on the stock. Deutsche Bank upped their target price on shares of Stryker from $181.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Robert W. Baird upped their target price on shares of Stryker from $201.00 to $206.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Canaccord Genuity upped their target price on shares of Stryker from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Oppenheimer upped their target price on shares of Stryker from $183.00 to $192.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Zacks Investment Research raised shares of Stryker from a “hold” rating to a “buy” rating and set a $209.00 target price on the stock in a research report on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Stryker currently has a consensus rating of “Buy” and an average target price of $196.89.

NYSE SYK opened at $185.63 on Friday. Stryker has a 12 month low of $144.75 and a 12 month high of $199.85. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.30 and a current ratio of 2.12. The stock has a market capitalization of $68.73 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 2.24 and a beta of 0.84.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.08 annualized dividend and a dividend yield of 1.12%. Stryker’s dividend payout ratio is presently 28.45%.

In related news, VP Bijoy Sagar sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $190.43, for a total value of $380,860.00. Following the sale, the vice president now owns 3,350 shares of the company’s stock, valued at $637,940.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $188.21, for a total transaction of $508,167.00. Following the completion of the sale, the chief financial officer now directly owns 23,333 shares in the company, valued at approximately $4,391,503.93. The disclosure for this sale can be found here. Insiders have sold 111,550 shares of company stock worth $21,374,171 in the last three months. Corporate insiders own 7.20% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Welch Group LLC increased its stake in Stryker by 1.5% in the first quarter. Welch Group LLC now owns 3,774 shares of the medical technology company’s stock valued at $745,000 after purchasing an additional 54 shares during the last quarter. Independence Bank of Kentucky increased its stake in Stryker by 4.9% in the first quarter. Independence Bank of Kentucky now owns 1,180 shares of the medical technology company’s stock valued at $233,000 after purchasing an additional 55 shares during the last quarter. Benedict Financial Advisors Inc. increased its stake in Stryker by 1.1% in the first quarter. Benedict Financial Advisors Inc. now owns 5,235 shares of the medical technology company’s stock valued at $1,034,000 after purchasing an additional 57 shares during the last quarter. Berman Capital Advisors LLC increased its stake in Stryker by 11.1% in the first quarter. Berman Capital Advisors LLC now owns 571 shares of the medical technology company’s stock valued at $112,000 after purchasing an additional 57 shares during the last quarter. Finally, 1ST Source Bank increased its stake in Stryker by 3.5% in the first quarter. 1ST Source Bank now owns 1,760 shares of the medical technology company’s stock valued at $348,000 after purchasing an additional 60 shares during the last quarter. 74.71% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also: What is the CBOE Russell 2000® Volatility Index?

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.