Stryker (SYK) Set to Announce Earnings on Tuesday

Stryker (NYSE:SYK) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, April 30th. Analysts expect Stryker to post 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 are interested in registering for the company’s earnings conference call can do so using this link.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, beating 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%. Stryker’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $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 Stock Performance

Shares of Stryker stock opened at $335.61 on Friday. The stock’s fifty day moving average is $348.88 and its two-hundred day moving average is $315.16. The company has a market capitalization of $127.69 billion, a PE ratio of 40.68, a price-to-earnings-growth ratio of 2.71 and a beta of 0.89. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. Stryker has a 52 week low of $249.98 and a 52 week high of $361.41.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SYK. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a research report on Wednesday, January 31st. Citigroup increased 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. Royal Bank of Canada increased their price target on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Finally, Evercore ISI increased their price target on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $340.67.

Insider Buying and Selling

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now directly 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 can be accessed through this hyperlink. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following 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 SEC, which can be accessed through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $1,317,414. 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 over the last ninety days. Company 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.