Stryker (SYK) Scheduled to Post Quarterly Earnings on Tuesday

Stryker (NYSE:SYK) is scheduled to be releasing its earnings data 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.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm 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

NYSE SYK opened at $352.82 on Friday. The company has a market cap of $134.41 billion, a PE ratio of 40.28, a price-to-earnings-growth ratio of 2.83 and a beta of 0.91. 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 firm’s 50-day simple moving average is $358.80 and its two-hundred day simple moving average is $343.72. Stryker has a 52 week low of $255.22 and a 52 week high of $374.63.

Stryker Announces Dividend

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

Analyst Ratings Changes

SYK has been the topic of a number of analyst reports. Morgan Stanley boosted their target price on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Piper Sandler reissued an “overweight” rating and set a $380.00 price objective on shares of Stryker in a report on Tuesday, September 10th. BTIG Research lifted their target price on Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 14th. Wolfe Research assumed coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Finally, Evercore ISI boosted their price objective on shares of Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average price target of $381.16.

Insiders Place Their Bets

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s 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 sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. This trade represents 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 through this link. Also, VP M Kathryn Fink sold 2,121 shares of the business’s 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 transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock valued at $71,811,372 in the last ninety days. Company insiders own 5.90% 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.