Stryker (SYK) Scheduled to Post Quarterly Earnings on Tuesday

Stryker (NYSE:SYK - Get Free Report) is scheduled to post its quarterly earnings results after the market closes on Tuesday, April 30th. Analysts expect Stryker to post earnings of $2.35 per share for the quarter. Stryker has set its FY24 guidance at $11.70 to $12.00 EPS and its FY 2024 guidance at 11.700-12.000 EPS.Individual interested in participating in the company's earnings conference call can do so using this link.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same quarter last year, the firm earned $3.00 EPS. Stryker's revenue for the quarter was up 11.8% compared to the same quarter last year. On average, analysts expect Stryker to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Stryker Price Performance

SYK traded up $7.21 during trading on Tuesday, hitting $334.89. The company's stock had a trading volume of 1,430,515 shares, compared to its average volume of 1,279,753. Stryker has a 12 month low of $249.98 and a 12 month high of $361.41. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $127.42 billion, a price-to-earnings ratio of 40.46, a price-to-earnings-growth ratio of 2.62 and a beta of 0.89. The firm's 50 day moving average price is $349.74 and its two-hundred day moving average price is $313.59.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.96%. Stryker's dividend payout ratio (DPR) is 38.79%.

Analyst Ratings Changes

A number of brokerages have recently commented on SYK. Evercore ISI boosted their price target on Stryker from $340.00 to $370.00 and gave the company an "outperform" rating in a report on Thursday, April 4th. Citigroup boosted their price target on Stryker from $362.00 to $406.00 and gave the company a "buy" rating in a report on Wednesday, April 3rd. TD Cowen boosted their price target on Stryker from $365.00 to $400.00 and gave the company a "buy" rating in a report on Thursday, April 11th. Truist Financial boosted their price target on Stryker from $330.00 to $345.00 and gave the company a "hold" rating in a report on Wednesday, January 31st. Finally, Wells Fargo & Company upped their target price on Stryker from $336.00 to $364.00 and gave the stock an "overweight" rating in a report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $340.45.

Insider Activity

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $1,317,414. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related 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 sale, the chief accounting officer now owns 3,675 shares of the company's stock, valued at $1,317,414. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Allan C. Golston sold 3,273 shares of the firm's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the sale, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.50% of the stock is owned by insiders.

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.