Stryker (SYK) to Release Quarterly Earnings on Tuesday

Stryker (NYSE:SYK) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $2.35 per share for the quarter. Stryker has set its FY24 guidance at $11.70 to $12.00 EPS and its FY 2024 guidance at 11.700-12.000 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.19. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned $3.00 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

Shares of SYK opened at $327.68 on Tuesday. The business’s 50-day moving average is $349.74 and its two-hundred day moving average is $313.59. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. Stryker has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company has a market capitalization of $124.67 billion, a P/E ratio of 39.72, a P/E/G ratio of 2.62 and a beta of 0.89.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Wednesday, March 27th. Stryker’s payout ratio is currently 38.79%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SYK shares. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a research note on Wednesday, January 31st. Royal Bank of Canada boosted their target price on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Roth Mkm boosted their target price on Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Evercore ISI upped their price objective on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Citigroup boosted their target price on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $340.45.

Insider Activity

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 completion of 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, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Allan C. Golston sold 3,273 shares of the stock in a transaction dated 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 transaction, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The disclosure for this sale can be found here. Over the last three months, insiders sold 212,109 shares of company stock valued at $72,845,768. Insiders own 5.50% 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.