Stryker (NYSE:SYK) Updates FY 2024 Earnings Guidance

Stryker (NYSE:SYK) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 11.850-12.050 for the period, compared to the consensus earnings per share estimate of 11.850. The company issued revenue guidance of -. Stryker also updated its FY24 guidance to $11.85-$12.05 EPS.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Roth Mkm upped their target price on Stryker from $345.00 to $348.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Citigroup upped their target price on Stryker from $362.00 to $406.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Truist Financial upped their target price on Stryker from $330.00 to $345.00 and gave the company a hold rating in a research note on Wednesday, January 31st. Royal Bank of Canada boosted their price target on Stryker from $360.00 to $386.00 and gave the company an outperform rating in a research report on Monday, April 15th. Finally, StockNews.com raised Stryker from a hold rating to a buy rating in a research report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $340.67.

Stryker Stock Down 0.8 %

Shares of NYSE SYK traded down $2.55 on Tuesday, hitting $336.32. The company had a trading volume of 2,480,477 shares, compared to its average volume of 1,301,242. Stryker has a 12-month low of $249.98 and a 12-month high of $361.41. The business has a 50 day moving average of $348.68 and a two-hundred day moving average of $316.14. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $127.96 billion, a P/E ratio of 41.09, a PEG ratio of 2.70 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the prior year, the business earned $2.14 earnings per share. The company’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts forecast that Stryker will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Wednesday, March 27th. Stryker’s dividend payout ratio is currently 38.79%.

Insider Activity at Stryker

In related news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the transaction, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now owns 14,242 shares in the company, valued at $4,856,522. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 212,109 shares of company stock valued at $72,845,768. Insiders own 5.50% of the company’s stock.

Stryker Company Profile

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.