Roth Capital Comments on Stryker Co.’s Q3 2024 Earnings (NYSE:SYK)

Stryker Co. (NYSE:SYK) – Equities researchers at Roth Capital decreased their Q3 2024 earnings per share estimates for shares of Stryker in a research note issued to investors on Wednesday, May 1st. Roth Capital analyst J. Wittes now expects that the medical technology company will post earnings of $2.90 per share for the quarter, down from their previous estimate of $2.92. The consensus estimate for Stryker’s current full-year earnings is $11.94 per share. Roth Capital also issued estimates for Stryker’s FY2026 earnings at $14.79 EPS.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter last year, the company earned $2.14 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year.

A number of other equities research analysts have also issued reports on SYK. Roth Mkm raised their price target on Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup increased their price objective on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Evercore ISI raised their price target on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Finally, Stifel Nicolaus raised their price objective on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $365.94.

Stryker Stock Performance

NYSE:SYK opened at $328.45 on Friday. The company has a current ratio of 1.71, a quick ratio of 0.97 and a debt-to-equity ratio of 0.56. Stryker has a 12-month low of $249.98 and a 12-month high of $361.41. The stock has a 50-day moving average price of $346.99 and a 200 day moving average price of $317.29. The stock has a market capitalization of $125.12 billion, a P/E ratio of 37.49, a P/E/G ratio of 2.55 and a beta of 0.91.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Keybank National Association OH increased its position in shares of Stryker by 3.5% in the 3rd quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock valued at $7,603,000 after buying an additional 952 shares in the last quarter. Carnegie Capital Asset Management LLC lifted its stake in Stryker by 0.5% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock valued at $28,820,000 after purchasing an additional 497 shares during the last quarter. CoreCap Advisors LLC lifted its stake in Stryker by 3.9% in the 4th quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after purchasing an additional 191 shares during the last quarter. Consolidated Planning Corp acquired a new stake in Stryker in the 4th quarter valued at about $205,000. Finally, Meritage Portfolio Management bought a new position in Stryker in the 4th quarter valued at about $569,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 transaction of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Ronda E. Stryker sold 201,146 shares of Stryker 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 sale, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’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 transaction, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

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 paid a dividend of $0.80 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. Stryker’s payout ratio is currently 36.53%.

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.