Stryker (NYSE:SYK) Issues FY 2024 Earnings Guidance

Stryker (NYSE:SYK) updated its FY 2024 earnings guidance on Tuesday. 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 -.

Stryker Trading Up 1.2 %

Shares of NYSE:SYK traded up $4.47 during trading on Wednesday, hitting $363.48. The company had a trading volume of 2,242,755 shares, compared to its average volume of 1,255,561. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker has a one year low of $264.85 and a one year high of $374.63. The stock has a market cap of $138.47 billion, a price-to-earnings ratio of 41.49, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91. The company has a fifty day simple moving average of $359.79 and a two-hundred day simple moving average of $343.98.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.78 by $0.09. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the firm posted $2.46 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts forecast that Stryker will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.88%. Stryker’s dividend payout ratio is currently 36.53%.

Analysts Set New Price Targets

SYK has been the subject of a number of research reports. Needham & Company LLC boosted their price target on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday. Piper Sandler reiterated an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a report on Wednesday. Stifel Nicolaus cut their price target on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. UBS Group lifted their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Robert W. Baird increased their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $392.60.

Insider Activity at Stryker

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock valued at $71,811,372 in the last three months. 5.90% of the stock is owned by 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.