FY2024 Earnings Estimate for Stryker Issued By Roth Capital

Stryker Co. (NYSE:SYK) – Analysts at Roth Capital raised their FY2024 EPS estimates for Stryker in a research report issued to clients and investors on Wednesday, October 30th. Roth Capital analyst J. Wittes now anticipates that the medical technology company will post earnings of $12.10 per share for the year, up from their previous forecast 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 commented on SYK. BTIG Research upped their price objective on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday. Barclays boosted their target price on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group raised their price target on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a report on Wednesday. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Price Performance

Stryker stock opened at $356.28 on Thursday. The company has a market capitalization of $135.72 billion, a price-to-earnings ratio of 40.67, a PEG ratio of 2.73 and a beta of 0.91. The stock’s 50 day moving average is $359.90 and its 200-day moving average is $344.06. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker has a 12 month low of $264.85 and a 12 month high of $374.63.

Stryker (NYSE:SYK) last announced its quarterly 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. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.46 EPS.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Buying and Selling at Stryker

In other news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. 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. In related news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction 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 sale, the insider now owns 9,069 shares in the company, valued at $3,219,495. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 200,068 shares of company stock worth $65,151,372 over the last 90 days. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position 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 buying an additional 309,592 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after acquiring an additional 813,311 shares during the last quarter. Clearbridge Investments LLC increased its position in Stryker by 2.9% during 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 purchasing an additional 66,482 shares during the period. TD Asset Management Inc raised its holdings in Stryker by 2.9% during the 1st quarter. TD Asset Management Inc now owns 1,601,380 shares of the medical technology company’s stock worth $573,086,000 after purchasing an additional 44,765 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Stryker by 4.0% in 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 purchasing an additional 46,375 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.