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

Stryker Co. (NYSE:SYK) – Stock analysts at Roth Capital raised their Q2 2024 earnings estimates for shares of Stryker in a research report issued to clients and investors on Wednesday, May 1st. Roth Capital analyst J. Wittes now forecasts that the medical technology company will post earnings of $2.91 per share for the quarter, up from their prior estimate of $2.90. The consensus estimate for Stryker’s current full-year earnings is $11.86 per share. Roth Capital also issued estimates for Stryker’s Q4 2024 earnings at $3.70 EPS.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.44%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.14 earnings per share.

Several other brokerages also recently commented on SYK. Needham & Company LLC restated a “hold” rating on shares of Stryker in a research report on Wednesday. Truist Financial boosted their target price on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and upped their price target for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. TD Cowen increased their price objective on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Finally, StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $365.94.

Stryker Stock Down 0.4 %

NYSE SYK opened at $326.73 on Thursday. The company has a market capitalization of $124.31 billion, a P/E ratio of 37.30, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. Stryker has a 52 week low of $249.98 and a 52 week high of $361.41. The stock’s 50-day moving average price is $347.52 and its 200-day moving average price is $316.85. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59.

Hedge Funds Weigh In On Stryker

A number of hedge funds have recently modified their holdings of the business. Burkett Financial Services LLC purchased a new stake in shares of Stryker during the fourth quarter worth $25,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in Stryker by 203.3% during 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 acquiring an additional 61 shares during the period. Rogco LP purchased a new stake in shares of Stryker in the fourth quarter valued at about $30,000. DSM Capital Partners LLC purchased a new stake in shares of Stryker in the fourth quarter valued at approximately $34,000. Finally, HBC Financial Services PLLC acquired a new position in Stryker during the fourth quarter worth about $37,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was 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 approximately $1,317,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the company’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 value 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 disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were issued a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.98%. Stryker’s dividend payout ratio (DPR) 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.