$3.97 Billion in Sales Expected for Stryker Co. (NYSE:SYK) This Quarter


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Equities analysts forecast that Stryker Co. (NYSE:SYK) will post sales of $3.97 billion for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Stryker’s earnings, with the highest sales estimate coming in at $4.05 billion and the lowest estimate coming in at $3.86 billion. Stryker reported sales of $3.59 billion during the same quarter last year, which indicates a positive year over year growth rate of 10.6%. The company is scheduled to report its next quarterly earnings results on Thursday, April 29th.

According to Zacks, analysts expect that Stryker will report full-year sales of $17.07 billion for the current year, with estimates ranging from $16.88 billion to $17.21 billion. For the next year, analysts forecast that the company will post sales of $18.21 billion, with estimates ranging from $17.95 billion to $18.41 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Stryker.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 26th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.55 by $0.26. Stryker had a return on equity of 20.94% and a net margin of 12.35%. The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the prior year, the company earned $2.49 EPS. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year.

A number of equities research analysts have issued reports on the company. Truist increased their price target on Stryker from $210.00 to $245.00 in a research note on Wednesday, January 6th. Canaccord Genuity cut their price objective on shares of Stryker from $240.00 to $234.00 and set a “buy” rating for the company in a report on Friday, October 30th. BTIG Research boosted their price target on shares of Stryker from $234.00 to $252.00 and gave the stock a “buy” rating in a research report on Thursday, December 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a research note on Thursday, January 28th. Finally, TheStreet raised shares of Stryker from a “c+” rating to a “b+” rating in a research report on Thursday, October 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $227.00.

In other Stryker news, CFO Glenn S. Boehnlein sold 2,000 shares of the business’s stock in a transaction on Monday, December 28th. The shares were sold at an average price of $239.10, for a total transaction of $478,200.00. Following the completion of the sale, the chief financial officer now owns 14,321 shares in the company, valued at $3,424,151.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin Lobo sold 10,697 shares of the business’s stock in a transaction on Monday, December 7th. The shares were sold at an average price of $236.28, for a total transaction of $2,527,487.16. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in SYK. Fort Pitt Capital Group LLC acquired a new position in shares of Stryker during the fourth quarter valued at $48,000. WCM Investment Management LLC boosted its holdings in shares of Stryker by 18.1% during the fourth quarter. WCM Investment Management LLC now owns 2,076,640 shares of the medical technology company’s stock valued at $508,860,000 after acquiring an additional 318,714 shares during the period. InTrack Investment Management Inc acquired a new position in shares of Stryker during the fourth quarter valued at $619,000. Achmea Investment Management B.V. boosted its holdings in shares of Stryker by 32.1% during the fourth quarter. Achmea Investment Management B.V. now owns 18,219 shares of the medical technology company’s stock valued at $4,465,000 after acquiring an additional 4,428 shares during the period. Finally, Albion Financial Group UT acquired a new position in shares of Stryker during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 71.46% of the company’s stock.

SYK stock traded up $3.41 during mid-day trading on Tuesday, hitting $246.56. 1,289,495 shares of the stock were exchanged, compared to its average volume of 1,291,837. Stryker has a 12 month low of $124.54 and a 12 month high of $248.69. The stock has a market capitalization of $92.76 billion, a price-to-earnings ratio of 52.31, a PEG ratio of 2.79 and a beta of 0.87. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.89 and a quick ratio of 2.15. The business has a fifty day moving average price of $240.09 and a 200 day moving average price of $222.33.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Investors of record on Wednesday, March 31st will be paid a $0.63 dividend. The ex-dividend date is Tuesday, March 30th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.02%. Stryker’s dividend payout ratio (DPR) is presently 30.51%.

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 that are used in various medical specialties.

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