Roth Capital Forecasts Stryker’s FY2024 Earnings (NYSE:SYK)

Stryker Co. (NYSE:SYK) – Stock analysts at Roth Capital increased their FY2024 EPS estimates for Stryker in a research report issued on Wednesday, October 30th. Roth Capital analyst J. Wittes now expects that the medical technology company will earn $12.10 per share for the year, up from their previous estimate of $12.00. The consensus estimate for Stryker’s current full-year earnings is $12.00 per share. Roth Capital also issued estimates for Stryker’s Q4 2024 earnings at $3.92 EPS, FY2025 earnings at $13.56 EPS and FY2026 earnings at $14.97 EPS.

A number of other research analysts have also recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday. Needham & Company LLC increased their price objective on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday. Wolfe Research initiated coverage on Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target on the stock. Morgan Stanley raised their target price on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Finally, StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $392.60.

Stryker Trading Up 1.2 %

SYK opened at $363.48 on Thursday. Stryker has a 1-year low of $264.85 and a 1-year high of $374.63. The firm has a market capitalization 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’s 50 day simple moving average is $359.79 and its two-hundred day simple moving average is $343.98. 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 (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.09. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the firm earned $2.46 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis.

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 issued a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s dividend payout ratio is currently 36.53%.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Stryker news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction on 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 directly owns 2,852 shares in the company, valued at $949,716. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,068 shares of company stock valued at $71,811,372. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Stryker by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after purchasing an additional 309,592 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after buying an additional 813,311 shares during the period. Clearbridge Investments LLC lifted its position in Stryker by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after acquiring an additional 66,482 shares in the last quarter. TD Asset Management Inc raised its position in Stryker by 2.9% in the 1st quarter. TD Asset Management Inc now owns 1,601,380 shares of the medical technology company’s stock valued at $573,086,000 after buying an additional 44,765 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Stryker by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock worth $411,624,000 after buying an additional 46,375 shares in the last quarter. Institutional investors own 77.09% 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.