Stryker Co. (NYSE:SYK) to Post Q3 2024 Earnings of $2.90 Per Share, Roth Capital Forecasts

Stryker Co. (NYSE:SYK) – Analysts at Roth Capital reduced their Q3 2024 earnings per share estimates for shares of Stryker in a report released on Wednesday, May 1st. Roth Capital analyst J. Wittes now anticipates that the medical technology company will earn $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 $11.93 per share. Roth Capital also issued estimates for Stryker’s FY2026 earnings at $14.79 EPS.

Several other equities research analysts have also weighed in on SYK. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Robert W. Baird increased their price target on Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research note on Wednesday. Roth Mkm increased their price target on Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday. Stifel Nicolaus increased their price target on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Piper Sandler increased their price target on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $365.94.

Stryker Price Performance

Shares of NYSE SYK opened at $328.45 on Friday. Stryker has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.97. The business’s fifty day moving average price is $347.52 and its two-hundred day moving average price is $316.85. The firm has a market capitalization of $124.97 billion, a PE ratio of 37.49, a P/E/G ratio of 2.63 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share 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 analyst estimates of $5.10 billion. During the same period last year, the company earned $2.14 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis.

Institutional Investors Weigh In On Stryker

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Burkett Financial Services LLC acquired a new stake in Stryker in the 4th quarter worth approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares during the last quarter. Rogco LP acquired a new stake in Stryker in the 4th quarter worth approximately $30,000. Central Pacific Bank Trust Division acquired a new stake in Stryker in the 1st quarter worth approximately $39,000. Finally, DSM Capital Partners LLC acquired a new stake in Stryker in the 4th quarter worth approximately $34,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Stryker 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 completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction dated 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 directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of Stryker 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 sale, the chief accounting officer now owns 3,675 shares of the company’s stock, 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given 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 0.97%. Stryker’s payout ratio is presently 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.