Stryker (SYK) to Release Earnings on Tuesday

Stryker (NYSE:SYK) will be posting its quarterly earnings results after the market closes on Tuesday, October 29th. Analysts expect Stryker to post earnings of $2.78 per share for the quarter. Stryker has set its FY24 guidance at $11.90-12.10 EPS and its FY 2024 guidance at 11.900-12.100 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.54 EPS. On average, analysts expect Stryker to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Stryker Price Performance

Shares of SYK stock opened at $352.82 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The stock has a market cap of $134.41 billion, a price-to-earnings ratio of 40.28, a PEG ratio of 2.83 and a beta of 0.91. The business’s fifty day moving average is $358.80 and its 200 day moving average is $343.72. Stryker has a twelve month low of $255.22 and a twelve month high of $374.63.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is presently 36.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wolfe Research initiated coverage on shares of Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. Evercore ISI boosted their price target on Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. UBS Group boosted their target price on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, BTIG Research increased their target price on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $381.16.

Insider Activity

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock valued at $71,811,372 in the last 90 days. 5.90% of the stock is currently owned by 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.