Stryker (NYSE:SYK) Updates 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 12.000-12.100 for the period, compared to the consensus estimate of 12.010. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SYK. JPMorgan Chase & Co. boosted their price target on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday. Needham & Company LLC increased their target price on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler restated an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday. Truist Financial increased their price objective on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Robert W. Baird boosted their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Performance

Stryker stock traded up $11.01 during midday trading on Friday, hitting $367.29. The stock had a trading volume of 1,087,778 shares, compared to its average volume of 1,255,167. Stryker has a 52-week low of $266.93 and a 52-week high of $374.63. The company has a market capitalization of $139.97 billion, a PE ratio of 38.19, a P/E/G ratio of 2.79 and a beta of 0.91. The firm’s fifty day moving average is $359.90 and its two-hundred day moving average is $344.06. The company has a current ratio of 1.91, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $2.46 EPS. On average, research analysts forecast that Stryker will post 12.05 EPS for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, September 30th. Stryker’s dividend payout ratio is currently 34.30%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 200,068 shares of company stock valued at $65,151,372. 5.90% of the stock is owned by company insiders.

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.