Stryker Co. (NYSE:SYK - Free Report) - Stock analysts at Roth Capital upped their Q2 2024 earnings per share (EPS) 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 per share of $2.91 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 - Get Free Report) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.44%. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the prior year, the business posted $2.14 earnings per share. The business's quarterly revenue was up 9.7% on a year-over-year basis.
Several other analysts also recently issued reports on SYK. Evercore ISI upped their price objective on shares of Stryker from $340.00 to $370.00 and gave the stock an "outperform" rating in a report on Thursday, April 4th. Canaccord Genuity Group raised Stryker from a "hold" rating to a "buy" rating and raised their target price for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Robert W. Baird increased their price target on shares of Stryker from $367.00 to $378.00 and gave the company an "outperform" rating in a report on Wednesday. UBS Group boosted their price objective on shares of Stryker from $339.00 to $351.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Canaccord Genuity Group upgraded shares of Stryker from a "hold" rating to a "buy" rating and set a $360.00 target price for the company in a research note on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $359.00.
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Stryker Stock Performance
SYK traded down $1.39 on Thursday, hitting $326.73. The company had a trading volume of 1,846,993 shares, compared to its average volume of 1,325,153. Stryker has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The company's fifty day moving average price is $347.52 and its 200 day moving average price is $316.85. The stock has a market cap of $124.31 billion, a price-to-earnings ratio of 37.30, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of SYK. Burkett Financial Services LLC acquired a new stake in Stryker during the 4th quarter worth $25,000. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 61 shares during the last quarter. Rogco LP acquired a new position in Stryker in the fourth quarter valued at about $30,000. DSM Capital Partners LLC bought a new position in Stryker during the fourth quarter worth about $34,000. Finally, HBC Financial Services PLLC acquired a new position in shares of Stryker during the 4th quarter worth about $37,000. Institutional investors own 77.09% of the company's stock.
Insider Activity at Stryker
In other news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction 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 sale, 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 available through the SEC website. In other news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 3,675 shares of the company's stock, valued at $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the business's stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares of the company's stock, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock valued at $72,845,768 in the last three months. Corporate 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 given 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 0.98%. Stryker's dividend payout ratio (DPR) is presently 36.53%.
About Stryker
(
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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.
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