Stryker (NYSE:SYK) Posts Earnings Results, Beats Expectations By $0.09 EPS

Stryker (NYSE:SYK) released its quarterly earnings data on Tuesday. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.09, Briefing.com reports. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the previous year, the company posted $2.46 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. Stryker updated its FY 2024 guidance to 12.000-12.100 EPS.

Stryker Price Performance

SYK opened at $356.28 on Friday. The stock has a 50-day moving average price of $359.90 and a 200-day moving average price of $344.06. Stryker has a 12-month low of $264.85 and a 12-month high of $374.63. The company has a current ratio of 1.91, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $135.77 billion, a P/E ratio of 38.19, a PEG ratio of 2.79 and a beta of 0.91.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Monday, September 30th. Stryker’s payout ratio is currently 34.30%.

Wall Street Analyst Weigh In

SYK has been the topic of a number of analyst reports. Evercore ISI boosted their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley boosted their price objective on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Wells Fargo & Company boosted their price objective on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Finally, Robert W. Baird upped their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 200,068 shares of company stock worth $65,151,372 in the last ninety days. 5.90% of the stock is owned by company insiders.

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.