Stryker (NYSE:SYK) Issues Quarterly Earnings Results

Stryker (NYSE:SYK) released its quarterly earnings results on Tuesday. The medical technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14, Briefing.com reports. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.14 earnings per share. Stryker updated its FY24 guidance to $11.85-$12.05 EPS and its FY 2024 guidance to 11.850-12.050 EPS.

Stryker Trading Down 0.8 %

Shares of SYK opened at $336.32 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The stock has a market cap of $127.96 billion, a PE ratio of 40.77, a PEG ratio of 2.73 and a beta of 0.89. Stryker has a 1 year low of $249.98 and a 1 year high of $361.41. The stock has a 50 day simple moving average of $348.44 and a 200-day simple moving average of $316.70.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Wednesday, March 27th. Stryker’s payout ratio is 38.79%.

Insider Activity at Stryker

In other news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the transaction, the director now owns 14,242 shares in the company, valued at $4,856,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 201,146 shares of the business’s 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 in the company, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Insiders have sold a total of 212,109 shares of company stock valued at $72,845,768 in the last 90 days. 5.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SYK has been the topic of several recent analyst reports. Roth Mkm lifted their target price on shares of Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Evercore ISI lifted their price objective on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Truist Financial boosted their price objective on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. Citigroup lifted their price target on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, Wells Fargo & Company lifted their price target on Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $340.67.

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.