Analysts Issue Forecasts for Stryker Co.’s Q2 2024 Earnings (NYSE:SYK)

Stryker Co. (NYSE:SYK) – Equities research analysts at Roth Capital upped 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 forecasts 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 $11.86 per share. Roth Capital also issued estimates for Stryker’s Q4 2024 earnings at $3.70 EPS.

Several other research analysts have also recently commented on SYK. BTIG Research boosted their price target on Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a research note on Wednesday. Roth Mkm upped their target price on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Royal Bank of Canada upped their price target on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Finally, Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and raised their price objective for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $357.05.

Stryker Stock Performance

Shares of SYK stock opened at $328.14 on Thursday. The company’s fifty day moving average price is $348.05 and its two-hundred day moving average price is $316.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The firm has a market capitalization of $124.85 billion, a P/E ratio of 37.46, a P/E/G ratio of 2.71 and a beta of 0.91. Stryker has a 12 month low of $249.98 and a 12 month high of $361.41.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.44%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.14 earnings per share.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Wednesday, March 27th. Stryker’s payout ratio is 36.53%.

Insider Buying and Selling

In other Stryker news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction 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 of the company’s stock, valued at $4,856,522. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,146 shares of the 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 directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 212,109 shares of company stock valued at $72,845,768. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Burkett Financial Services LLC bought a new stake in shares of Stryker during the 4th quarter worth about $25,000. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 61 shares during the period. Rogco LP bought a new stake in Stryker during the fourth quarter worth approximately $30,000. DSM Capital Partners LLC acquired a new stake in Stryker in the fourth quarter worth approximately $34,000. Finally, HBC Financial Services PLLC bought a new position in Stryker during the 4th quarter valued at $37,000. 77.09% of the stock is currently 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.