SVB Leerink Comments on Stryker Co.’s Q3 2022 Earnings (NYSE:SYK)

Stryker Co. (NYSE:SYK – Get Rating) – SVB Leerink boosted their Q3 2022 earnings per share (EPS) estimates for Stryker in a report issued on Monday, April 18th. SVB Leerink analyst D. Antalffy now expects that the medical technology company will post earnings per share of $2.54 for the quarter, up from their prior estimate of $2.47. SVB Leerink has a “Outperform” rating and a $285.00 price target on the stock.

Stryker (NYSE:SYK – Get Rating) last issued its quarterly earnings results on Thursday, January 27th. The medical technology company reported $2.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.72 by ($0.01). The business had revenue of $4.70 billion during the quarter, compared to the consensus estimate of $4.65 billion. Stryker had a net margin of 11.65% and a return on equity of 24.65%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.81 EPS.

A number of other research analysts also recently weighed in on the company. Truist Financial assumed coverage on Stryker in a research note on Tuesday, April 12th. They set a “hold” rating and a $296.00 price target on the stock. Piper Sandler raised Stryker from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $250.00 to $315.00 in a research note on Tuesday, January 4th. StockNews.com assumed coverage on Stryker in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Bank of America began coverage on Stryker in a research note on Tuesday, March 1st. They issued a “buy” rating for the company. Finally, Morgan Stanley cut their target price on Stryker from $305.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Monday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Stryker currently has an average rating of “Buy” and a consensus target price of $293.22.

NYSE SYK opened at $271.67 on Wednesday. The business’s 50-day moving average price is $260.72 and its two-hundred day moving average price is $261.07. Stryker has a 12 month low of $236.09 and a 12 month high of $281.16. The firm has a market capitalization of $102.61 billion, a PE ratio of 52.14, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98. The company has a current ratio of 2.20, a quick ratio of 1.47 and a debt-to-equity ratio of 0.84.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 29th. Investors of record on Thursday, March 31st will be issued a $0.695 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Wednesday, March 30th. Stryker’s dividend payout ratio (DPR) is currently 53.36%.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of Stryker by 4.5% in the 3rd quarter. BlackRock Inc. now owns 24,204,161 shares of the medical technology company’s stock worth $6,383,121,000 after buying an additional 1,035,957 shares during the last quarter. Greenleaf Trust boosted its holdings in shares of Stryker by 0.9% in the 3rd quarter. Greenleaf Trust now owns 20,423,471 shares of the medical technology company’s stock worth $5,386,078,000 after buying an additional 184,760 shares during the last quarter. State Street Corp boosted its holdings in shares of Stryker by 3.0% in the 4th quarter. State Street Corp now owns 13,911,036 shares of the medical technology company’s stock worth $3,729,638,000 after buying an additional 402,204 shares during the last quarter. Wellington Management Group LLP raised its stake in Stryker by 43.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,408,440 shares of the medical technology company’s stock valued at $3,272,353,000 after acquiring an additional 3,780,982 shares during the period. Finally, Capital Research Global Investors raised its stake in Stryker by 1.4% in the 4th quarter. Capital Research Global Investors now owns 9,900,733 shares of the medical technology company’s stock valued at $2,647,673,000 after acquiring an additional 140,504 shares during the period. 73.61% of the stock is currently owned by institutional investors.

About Stryker (Get Rating)

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

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