Stryker (SYK) Set to Announce Earnings on Tuesday

Stryker (NYSE:SYK) will be posting its quarterly earnings results after the market closes on Tuesday, April 30th. Analysts expect Stryker to post earnings of $2.35 per share for the quarter. Stryker has set its FY24 guidance at $11.70 to $12.00 EPS and its FY 2024 guidance at 11.700-12.000 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.19. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the business posted $3.00 EPS. On average, analysts expect Stryker to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Stryker Stock Performance

NYSE SYK opened at $335.61 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The firm has a market capitalization of $127.69 billion, a price-to-earnings ratio of 40.68, a P/E/G ratio of 2.71 and a beta of 0.89. The company’s fifty day moving average is $348.88 and its two-hundred day moving average is $315.16. Stryker has a 52-week low of $249.98 and a 52-week high of $361.41.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.95%. Stryker’s dividend payout ratio is 38.79%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SYK. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Roth Mkm lifted their target price on shares of Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and lifted their target price for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. Evercore ISI lifted their target price on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Truist Financial lifted their target price on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $340.67.

Insiders Place Their Bets

In other Stryker news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the sale, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The disclosure for this sale can be found here. Over the last three months, insiders sold 212,109 shares of company stock valued at $72,845,768. Insiders own 5.90% of the company’s stock.

Stryker Company Profile

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 total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.