Q2 2024 EPS Estimates for Stryker Co. (NYSE:SYK) Decreased by Zacks Research

Stryker Co. (NYSE:SYK - Free Report) - Zacks Research lowered their Q2 2024 earnings per share estimates for Stryker in a research note issued on Tuesday, May 21st. Zacks Research analyst I. Bandyopadhyay now expects that the medical technology company will earn $2.79 per share for the quarter, down from their previous estimate of $2.82. The consensus estimate for Stryker's current full-year earnings is $11.94 per share. Zacks Research also issued estimates for Stryker's Q4 2024 earnings at $3.81 EPS, FY2024 earnings at $11.90 EPS, Q1 2025 earnings at $2.75 EPS, Q2 2025 earnings at $3.19 EPS, Q3 2025 earnings at $3.17 EPS, Q4 2025 earnings at $4.23 EPS, FY2025 earnings at $13.35 EPS, Q1 2026 earnings at $3.04 EPS and FY2026 earnings at $14.31 EPS.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 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 analysts' expectations of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm's revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.14 earnings per share.

SYK has been the topic of several other research reports. BTIG Research increased their target price on Stryker from $366.00 to $369.00 and gave the company a "buy" rating in a report on Wednesday, May 1st. Barclays raised their price objective on shares of Stryker from $372.00 to $376.00 and gave the company an "overweight" rating in a research report on Thursday, May 2nd. Royal Bank of Canada lifted their price target on shares of Stryker from $360.00 to $386.00 and gave the company an "outperform" rating in a research report on Monday, April 15th. Stifel Nicolaus lifted their price target on shares of Stryker from $350.00 to $375.00 and gave the company a "buy" rating in a research report on Wednesday, May 1st. Finally, Canaccord Genuity Group upgraded Stryker from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $367.32.

Stryker Stock Up 1.5 %

Shares of NYSE SYK traded up $4.91 during mid-day trading on Wednesday, hitting $335.42. The company had a trading volume of 1,515,387 shares, compared to its average volume of 1,336,249. The company has a market capitalization of $127.78 billion, a PE ratio of 38.29, a price-to-earnings-growth ratio of 2.57 and a beta of 0.91. The business's 50-day simple moving average is $340.69 and its 200 day simple moving average is $323.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. Stryker has a 1-year low of $249.98 and a 1-year high of $361.41.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.80 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.95%. Stryker's dividend payout ratio is currently 36.53%.

Insiders Place Their Bets

In other Stryker news, 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 5.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stryker

A number of institutional investors have recently modified their holdings of SYK. Burkett Financial Services LLC bought a new position in Stryker in the 4th quarter worth about $25,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 61 shares in the last quarter. Rogco LP purchased a new stake in shares of Stryker in the 4th quarter valued at approximately $30,000. DSM Capital Partners LLC purchased a new stake in shares of Stryker in the 4th quarter valued at approximately $34,000. Finally, HBC Financial Services PLLC acquired a new position in Stryker in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 77.09% of the company's stock.

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.