Stryker (NYSE:SYK) Releases FY 2024 Earnings Guidance

Stryker (NYSE:SYK) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 11.900-12.100 for the period, compared to the consensus estimate of 11.950. The company issued revenue guidance of -. Stryker also updated its FY24 guidance to $11.90-12.10 EPS.

Stryker Trading Down 0.9 %

SYK traded down $3.06 during midday trading on Tuesday, reaching $330.22. 2,352,786 shares of the company were exchanged, compared to its average volume of 1,301,805. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. Stryker has a one year low of $249.98 and a one year high of $361.41. The stock has a market capitalization of $125.80 billion, a P/E ratio of 37.70, a PEG ratio of 2.61 and a beta of 0.89. The stock’s 50-day simple moving average is $339.05 and its 200 day simple moving average is $339.61.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.54 earnings per share. As a group, analysts forecast that Stryker will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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 $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Friday, June 28th. Stryker’s dividend payout ratio is currently 36.53%.

Analyst Ratings Changes

SYK has been the topic of several recent analyst reports. Morgan Stanley boosted their price target on Stryker from $345.00 to $350.00 and gave the stock an equal weight rating in a research report on Monday, July 15th. The Goldman Sachs Group began coverage on Stryker in a research report on Thursday, May 30th. They set a neutral rating and a $372.00 price target on the stock. Royal Bank of Canada lifted their target price on Stryker from $360.00 to $386.00 and gave the stock an outperform rating in a research note on Monday, April 15th. Stifel Nicolaus lifted their target price on Stryker from $350.00 to $375.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Finally, Evercore ISI reduced their target price on Stryker from $370.00 to $365.00 and set an outperform rating for the company in a research note on Tuesday, July 2nd. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of Moderate Buy and a consensus target price of $372.05.

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.