Stryker Co. Forecasted to Earn Q2 2024 Earnings of $2.91 Per Share (NYSE:SYK)

Stryker Co. (NYSE:SYK) – Equities researchers at Roth Capital lifted their Q2 2024 earnings per share (EPS) estimates for shares of Stryker in a report issued on Wednesday, May 1st. Roth Capital analyst J. Wittes now expects that the medical technology company will earn $2.91 per share for the quarter, up from their prior forecast of $2.90. The consensus estimate for Stryker’s current full-year earnings is $11.93 per share. Roth Capital also issued estimates for Stryker’s Q4 2024 earnings at $3.70 EPS.

A number of other research analysts also recently commented on SYK. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Robert W. Baird lifted their price objective on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a report on Wednesday. BTIG Research increased their target price on shares of Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial raised their price target 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. Finally, Evercore ISI boosted their price objective on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $365.94.

Stryker Stock Performance

Shares of SYK stock opened at $328.45 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.97 and a current ratio of 1.71. The stock has a market capitalization of $124.97 billion, a price-to-earnings ratio of 37.49, a PEG ratio of 2.63 and a beta of 0.91. Stryker has a one year low of $249.98 and a one year high of $361.41. The company’s 50-day simple moving average is $347.52 and its 200-day simple moving average is $316.85.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.14 EPS.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were given a $0.80 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. Stryker’s dividend payout ratio is presently 36.53%.

Insider Buying and Selling at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction 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. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stryker

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Stryker by 0.5% in the third quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock worth $8,379,967,000 after acquiring an additional 143,631 shares in the last quarter. Greenleaf Trust raised its stake in Stryker by 0.6% during the 1st quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock valued at $6,655,089,000 after purchasing an additional 108,080 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after purchasing an additional 642,178 shares in the last quarter. FMR LLC boosted its position in shares of Stryker by 2.5% in the third quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock worth $1,632,127,000 after buying an additional 144,208 shares during the period. Finally, Morgan Stanley grew its holdings in shares of Stryker by 4.4% during the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after buying an additional 223,728 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

About Stryker

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.