Q2 2024 EPS Estimates for Stryker Co. (NYSE:SYK) Cut by Analyst

Stryker Co. (NYSE:SYK) – Investment analysts at Zacks Research decreased their Q2 2024 earnings per share (EPS) estimates for Stryker in a report issued on Tuesday, May 21st. Zacks Research analyst I. Bandyopadhyay now anticipates that the medical technology company will earn $2.79 per share for the quarter, down from their prior forecast of $2.82. The consensus estimate for Stryker’s current full-year earnings is $11.95 per share. Zacks Research also issued estimates for Stryker’s Q4 2024 earnings at $3.81 EPS, FY2024 earnings at $11.90 EPS, Q1 2025 earnings at $2.75 EPS, Q2 2025 earnings at $3.19 EPS, Q3 2025 earnings at $3.17 EPS, Q4 2025 earnings at $4.23 EPS, FY2025 earnings at $13.35 EPS, Q1 2026 earnings at $3.04 EPS and FY2026 earnings at $14.31 EPS.

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

Several other research analysts have also recently weighed in on SYK. Wells Fargo & Company lifted their price target on Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and lifted their target price for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. BTIG Research boosted their target price on shares of Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Stifel Nicolaus raised their price target on shares of Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Piper Sandler upped their price objective on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $367.32.

Stryker Stock Performance

NYSE SYK opened at $330.12 on Wednesday. The firm has a market capitalization of $125.76 billion, a P/E ratio of 37.68, a PEG ratio of 2.60 and a beta of 0.91. The stock has a 50-day simple moving average of $340.18 and a two-hundred day simple moving average of $323.43. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. Stryker has a fifty-two week low of $249.98 and a fifty-two week high of $361.41.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, June 28th. This represents a $3.20 annualized dividend and a yield of 0.97%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Orleans Capital Management Corp LA grew its stake in shares of Stryker by 470.9% in the 1st quarter. Orleans Capital Management Corp LA now owns 3,825 shares of the medical technology company’s stock valued at $1,369,000 after buying an additional 3,155 shares during the period. Atria Investments Inc grew its position in Stryker by 12.2% in the first quarter. Atria Investments Inc now owns 20,395 shares of the medical technology company’s stock worth $7,299,000 after acquiring an additional 2,212 shares during the period. Swedbank AB acquired a new stake in Stryker during the first quarter worth $16,239,000. Strategic Wealth Partners Ltd. raised its position in Stryker by 5.1% in the first quarter. Strategic Wealth Partners Ltd. now owns 17,893 shares of the medical technology company’s stock valued at $6,403,000 after purchasing an additional 871 shares during the period. Finally, Algebris UK Ltd lifted its stake in shares of Stryker by 15.2% in the 1st quarter. Algebris UK Ltd now owns 2,644 shares of the medical technology company’s stock valued at $877,000 after purchasing an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 77.09% 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.