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

Stryker Co. (NYSE:SYK) – Roth Capital decreased their Q3 2024 earnings per share estimates for shares of Stryker in a research note issued to investors on Wednesday, May 1st. Roth Capital analyst J. Wittes now expects that the medical technology company will earn $2.90 per share for the quarter, down from their prior 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.

A number of other equities analysts have also recently commented on SYK. UBS Group increased their target price on Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a report on Wednesday. TD Cowen increased their price objective on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Roth Mkm increased their price objective on Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target for the company in a research report on Wednesday, January 31st. Finally, Royal Bank of Canada raised 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. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $365.94.

Stryker Price Performance

Shares of Stryker stock opened at $328.45 on Friday. The business has a 50 day simple moving average of $347.52 and a two-hundred day simple moving average of $316.85. Stryker has a 12 month low of $249.98 and a 12 month high of $361.41. The stock has a market capitalization of $124.97 billion, a P/E ratio of 37.49, a PEG ratio of 2.63 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.97.

Stryker (NYSE:SYK) last released its quarterly earnings results 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 company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. Stryker’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.14 EPS.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were paid 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 dividend payout ratio is presently 36.53%.

Insiders Place Their Bets

In other news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction 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 transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction 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 transaction, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Stryker during the 4th quarter worth approximately $1,260,562,000. Global Assets Advisory LLC acquired a new position in Stryker during the first quarter worth $341,049,000. Magellan Asset Management Ltd raised its position in Stryker by 74,911.8% in the third quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock worth $185,921,000 after acquiring an additional 679,450 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Stryker by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after purchasing an additional 642,178 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Stryker by 103.5% in the third quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock valued at $296,493,000 after purchasing an additional 551,798 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.