Stryker (NYSE:SYK – Get Free Report) posted its quarterly earnings data on Tuesday. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14, Briefing.com reports. 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 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 firm earned $2.14 EPS. Stryker updated its FY24 guidance to $11.85-$12.05 EPS and its FY 2024 guidance to 11.850-12.050 EPS.
Stryker Stock Down 0.4 %
Shares of NYSE SYK opened at $326.73 on Friday. The business has a 50-day simple moving average of $347.52 and a two-hundred day simple moving average of $316.85. Stryker has a 52 week low of $249.98 and a 52 week high of $361.41. The company has a market cap of $124.31 billion, a P/E ratio of 37.30, a P/E/G ratio of 2.63 and a beta of 0.91. The company has a quick ratio of 0.97, a current ratio of 1.71 and a debt-to-equity ratio of 0.56.
Stryker Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.98%. Stryker’s dividend payout ratio (DPR) is 36.53%.
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Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays raised their target price on Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a research report on Thursday. Piper Sandler boosted their price target on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and increased their price target for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. Finally, Roth Mkm lifted their price objective on shares of Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $365.94.
Check Out Our Latest Analysis on SYK
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.
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