Stryker (SYK) to Release Earnings on Tuesday

Stryker (NYSE:SYK) will likely be issuing its quarterly earnings data after the market closes on Tuesday, January 28th. Analysts expect the company to announce earnings of $3.87 per share and revenue of $6,358,730.00 billion for the quarter. Stryker has set its FY 2024 guidance at 12.000-12.100 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter last year, the company posted $2.46 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts expect Stryker to post $12 EPS for the current fiscal year and $14 EPS for the next fiscal year.

Stryker Price Performance

Shares of Stryker stock opened at $394.08 on Monday. Stryker has a 1-year low of $307.23 and a 1-year high of $398.20. The firm has a fifty day simple moving average of $376.11 and a 200-day simple moving average of $360.98. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $150.23 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 2.68 and a beta of 0.95.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio is 36.01%.

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SYK shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 target price on shares of Stryker in a report on Tuesday, January 7th. Evercore ISI raised their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Wells Fargo & Company raised their price target on shares of Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Canaccord Genuity Group upped their price objective on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

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.