Equities research analysts forecast that Stryker Co. (NYSE:SYK) will announce $3.26 billion in sales for the current quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Stryker’s earnings, with the lowest sales estimate coming in at $3.23 billion and the highest estimate coming in at $3.30 billion. Stryker posted sales of $3.01 billion during the same quarter last year, which indicates a positive year over year growth rate of 8.3%. The firm is expected to issue its next earnings results on Thursday, October 25th.
On average, analysts expect that Stryker will report full year sales of $13.53 billion for the current fiscal year, with estimates ranging from $13.48 billion to $13.64 billion. For the next fiscal year, analysts forecast that the firm will post sales of $14.39 billion per share, with estimates ranging from $14.32 billion to $14.56 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Stryker.
Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 24th. The medical technology company reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.03. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Stryker had a net margin of 8.28% and a return on equity of 26.93%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.53 earnings per share.
Several research analysts have recently weighed in on SYK shares. ValuEngine upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Canaccord Genuity restated a “buy” rating and set a $185.00 target price on shares of Stryker in a report on Wednesday, July 25th. Royal Bank of Canada restated a “buy” rating and set a $184.00 target price on shares of Stryker in a report on Wednesday, July 25th. Zacks Investment Research cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Thursday, May 24th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $170.00 target price on shares of Stryker in a report on Wednesday, June 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $176.43.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in Stryker by 2.7% during the second quarter. BlackRock Inc. now owns 24,551,677 shares of the medical technology company’s stock worth $4,145,795,000 after acquiring an additional 646,505 shares in the last quarter. FMR LLC raised its position in Stryker by 24.0% during the second quarter. FMR LLC now owns 5,327,862 shares of the medical technology company’s stock worth $899,662,000 after acquiring an additional 1,032,333 shares in the last quarter. Morgan Stanley raised its position in Stryker by 7.3% during the second quarter. Morgan Stanley now owns 2,305,235 shares of the medical technology company’s stock worth $389,262,000 after acquiring an additional 157,400 shares in the last quarter. Wells Fargo & Company MN raised its position in Stryker by 3.2% during the second quarter. Wells Fargo & Company MN now owns 2,037,752 shares of the medical technology company’s stock worth $344,094,000 after acquiring an additional 63,251 shares in the last quarter. Finally, Carmignac Gestion raised its position in Stryker by 36.6% during the first quarter. Carmignac Gestion now owns 1,599,867 shares of the medical technology company’s stock worth $257,451,000 after acquiring an additional 428,789 shares in the last quarter. 74.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Stryker stock traded down $1.08 on Monday, hitting $168.90. The company had a trading volume of 950,300 shares, compared to its average volume of 1,328,171. The stock has a market capitalization of $62.04 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 2.35 and a beta of 0.62. Stryker has a twelve month low of $137.70 and a twelve month high of $179.84. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.63.
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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