Stryker (NYSE:SYK) Issues FY 2024 Earnings Guidance

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

Analysts Set New Price Targets

SYK has been the topic of a number of research reports. Citigroup upped their target price on Stryker from $362.00 to $406.00 and gave the company a buy rating in a report on Wednesday, April 3rd. Royal Bank of Canada upped their target price on Stryker from $360.00 to $386.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Canaccord Genuity Group upgraded Stryker from a hold rating to a buy rating and lifted their price target for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Evercore ISI increased their price objective on Stryker from $340.00 to $370.00 and gave the stock an outperform rating in a report on Thursday, April 4th. Finally, Canaccord Genuity Group raised shares of Stryker from a hold rating to a buy rating and set a $360.00 price objective on the stock in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Stryker currently has an average rating of Moderate Buy and a consensus target price of $340.67.

Stryker Stock Performance

Shares of Stryker stock traded down $2.55 during trading on Tuesday, reaching $336.32. The company’s stock had a trading volume of 2,480,477 shares, compared to its average volume of 1,301,242. Stryker has a one year low of $249.98 and a one year high of $361.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The firm has a market cap of $127.96 billion, a price-to-earnings ratio of 40.77, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. The business’s fifty day moving average price is $348.44 and its 200-day moving average price is $316.70.

Stryker (NYSE:SYK) last posted its quarterly earnings data 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 business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter in the previous year, the firm earned $2.14 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts predict that Stryker will post 11.86 earnings per share for the current year.

Stryker Dividend Announcement

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

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other 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 value of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the company’s 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 completion of the sale, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The disclosure for this sale can be found here. In 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.