Stryker (NYSE:SYK) Issues FY24 Earnings Guidance

Stryker (NYSE:SYK) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $11.90-12.10 for the period, compared to the consensus earnings per share estimate of $11.95. Stryker also updated its FY 2024 guidance to 11.900-12.100 EPS.

Stryker Price Performance

Shares of Stryker stock traded down $3.06 during trading on Tuesday, reaching $330.22. The company’s stock had a trading volume of 2,352,786 shares, compared to its average volume of 1,301,805. Stryker has a one year low of $249.98 and a one year high of $361.41. The stock has a 50-day moving average price of $339.05 and a two-hundred day moving average price of $339.49. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $125.80 billion, a P/E ratio of 37.76, a price-to-earnings-growth ratio of 2.61 and a beta of 0.89.

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

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a $0.80 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SYK. BTIG Research raised their price target on Stryker from $369.00 to $372.00 and gave the company a buy rating in a report on Monday, July 15th. The Goldman Sachs Group initiated coverage on shares of Stryker in a research note on Thursday, May 30th. They set a neutral rating and a $372.00 price target for the company. Roth Mkm raised their price objective on shares of Stryker from $348.00 to $405.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Citigroup lifted their target price on shares of Stryker from $362.00 to $406.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Finally, Robert W. Baird increased their price target on Stryker from $367.00 to $378.00 and gave the company an outperform rating in a research note on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $372.05.

About Stryker

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.