Stryker (NYSE:SYK) Updates FY 2022 Earnings Guidance

Stryker (NYSE:SYK – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $9.60-$9.60 for the period, compared to the consensus earnings per share estimate of $9.76. The company issued revenue guidance of -.

SYK has been the subject of a number of research analyst reports. Piper Sandler dropped their price objective on Stryker from $315.00 to $290.00 in a report on Friday, April 29th. Truist Financial reduced their price objective on Stryker from $296.00 to $280.00 in a research note on Monday, May 2nd. SVB Leerink cut their target price on shares of Stryker from $300.00 to $285.00 and set an outperform rating on the stock in a research note on Friday, January 28th. Morgan Stanley reduced their price objective on Stryker from $305.00 to $275.00 and set an equal weight rating on the stock in a research note on Monday, January 31st. Finally, Bank of America began coverage on shares of Stryker in a research note on Tuesday, March 1st. They set a buy rating on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Stryker currently has a consensus rating of Buy and an average target price of $291.44.

NYSE:SYK opened at $229.01 on Tuesday. The company has a current ratio of 1.98, a quick ratio of 1.18 and a debt-to-equity ratio of 0.92. Stryker has a 1-year low of $227.84 and a 1-year high of $281.16. The business’s fifty day moving average price is $258.60 and its 200 day moving average price is $259.32. The firm has a market capitalization of $86.60 billion, a price-to-earnings ratio of 43.54, a PEG ratio of 2.72 and a beta of 0.99.

Stryker (NYSE:SYK – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The medical technology company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.04. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. Stryker had a net margin of 11.56% and a return on equity of 24.09%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $1.93 EPS. Equities analysts forecast that Stryker will post 9.64 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Thursday, June 30th will be given a dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Wednesday, June 29th. Stryker’s dividend payout ratio (DPR) is currently 52.85%.

A number of large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC bought a new stake in Stryker in the fourth quarter worth approximately $31,000. First Community Trust NA purchased a new stake in Stryker in the fourth quarter valued at approximately $40,000. Ulland Investment Advisors LLC purchased a new position in Stryker in the 4th quarter worth $86,000. Autumn Glory Partners LLC bought a new stake in shares of Stryker in the fourth quarter worth about $212,000. Finally, Benchmark Investment Advisors LLC bought a new stake in Stryker during the 4th quarter valued at approximately $212,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Stryker Company Profile (Get Rating)

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

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