Stryker (NYSE:SYK) Updates FY24 Earnings Guidance

Stryker (NYSE:SYK) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $11.85-$12.05 for the period, compared to the consensus estimate of $11.87.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company upped their price target on Stryker from $336.00 to $364.00 and gave the company an overweight rating in a research report on Wednesday, January 31st. Evercore ISI upped their target price on Stryker from $340.00 to $370.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Citigroup boosted their price objective on Stryker from $362.00 to $406.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Royal Bank of Canada boosted their price objective on shares of Stryker from $360.00 to $386.00 and gave the stock an outperform rating in a report on Monday, April 15th. Finally, Truist Financial lifted their target price on shares of Stryker from $330.00 to $345.00 and gave the stock a hold rating in a research report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $340.67.

Stryker Stock Down 0.7 %

NYSE:SYK traded down $2.37 on Tuesday, reaching $336.50. 2,440,389 shares of the stock traded hands, compared to its average volume of 1,301,011. The company’s fifty day simple moving average is $348.68 and its 200 day simple moving average is $316.14. Stryker has a 12 month low of $249.98 and a 12 month high of $361.41. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $128.03 billion, a price-to-earnings ratio of 41.09, a PEG ratio of 2.70 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.00 EPS. Equities analysts predict that Stryker will post 11.86 EPS for the current fiscal year.

Stryker Announces Dividend

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

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allan C. Golston sold 3,273 shares of the 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 completion of the transaction, the director now owns 14,242 shares in the company, valued at $4,856,522. The disclosure for this sale can be found here. In the last ninety days, insiders sold 212,109 shares of company stock worth $72,845,768. 5.50% of the stock is owned by corporate insiders.

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.