Stryker (SYK) Set to Announce Quarterly Earnings on Tuesday

Stryker (NYSE:SYK) is scheduled to announce its earnings results 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.Individual that wish to register for the company’s earnings conference call can do so using this link.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. During the same period in the prior year, the business posted $3.00 earnings per share. Stryker’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, analysts expect Stryker to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Stryker Stock Performance

Shares of SYK opened at $335.61 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. Stryker has a one year low of $249.98 and a one year high of $361.41. The company has a 50-day simple moving average of $348.88 and a two-hundred day simple moving average of $315.54. The firm has a market capitalization of $127.69 billion, a PE ratio of 40.68, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th 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 0.95%. The ex-dividend date is Wednesday, March 27th. Stryker’s dividend payout ratio is 38.79%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SYK. Roth Mkm boosted their target price on shares of Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and boosted their target price for the company from $315.00 to $360.00 in a research note on Wednesday, January 31st. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective for the company in a research report on Wednesday, January 31st. Finally, TD Cowen boosted their price objective on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $340.67.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now directly owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on 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 transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction 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 approximately $1,287,633,391.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 212,109 shares of company stock worth $72,845,768. Corporate 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.