Stryker (NYSE:SYK) Issues FY24 Earnings Guidance

Stryker (NYSE:SYK) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $11.85-$12.05 for the period, compared to the consensus EPS estimate of $11.87. Stryker also updated its FY 2024 guidance to 11.850-12.050 EPS.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Stryker from $360.00 to $386.00 and gave the company an outperform rating in a report on Monday, April 15th. TD Cowen upped their target price on shares of Stryker from $365.00 to $400.00 and gave the company a buy rating in a report on Thursday, April 11th. StockNews.com upgraded shares of Stryker from a hold rating to a buy rating in a research report on Tuesday, January 23rd. Truist Financial upped their price target 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. Finally, Roth Mkm upped their price target 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. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $340.67.

Stryker Price Performance

Shares of SYK traded down $2.55 during trading hours on Tuesday, reaching $336.32. The company had a trading volume of 2,480,477 shares, compared to its average volume of 1,301,242. The firm has a 50 day simple moving average of $348.44 and a 200-day simple moving average of $316.70. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $127.96 billion, a price-to-earnings ratio of 40.77, a PEG ratio of 2.70 and a beta of 0.89. Stryker has a 12-month low of $249.98 and a 12-month high of $361.41.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.14 EPS. Research analysts expect that Stryker will post 11.86 earnings per share for the current year.

Stryker Dividend Announcement

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

Insider Activity at Stryker

In related news, Director Allan C. Golston sold 3,273 shares of the 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 sale, the director now directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction dated 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 in the company, valued at $4,856,522. The disclosure for this sale can be found here. In the last three months, insiders have sold 212,109 shares of company stock valued at $72,845,768. Insiders own 5.50% 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.