Stryker (NYSE:SYK) Updates FY 2024 Earnings Guidance

Stryker (NYSE:SYK) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 12.000-12.100 for the period, compared to the consensus EPS estimate of 12.010. The company issued revenue guidance of -.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial raised their price target on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday. Stifel Nicolaus decreased their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Barclays lifted their price target on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, BTIG Research increased their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $392.60.

Stryker Price Performance

Shares of NYSE SYK traded up $4.47 during mid-day trading on Wednesday, reaching $363.48. The company’s stock had a trading volume of 2,242,755 shares, compared to its average volume of 1,255,561. The stock has a 50-day moving average of $359.79 and a two-hundred day moving average of $343.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The stock has a market capitalization of $138.47 billion, a P/E ratio of 41.49, a P/E/G ratio of 2.73 and a beta of 0.91. Stryker has a 1-year low of $264.85 and a 1-year high of $374.63.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.78 by $0.09. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the company posted $2.46 EPS. The business’s revenue was up 11.9% on a year-over-year basis. On average, equities research analysts anticipate that Stryker will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.88%. Stryker’s payout ratio is 36.53%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated 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 directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was 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 in the company, valued at approximately $1,072,790,023.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,068 shares of company stock worth $71,811,372. Insiders own 5.90% of the company’s stock.

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.