Stryker (NYSE:SYK) Updates FY 2024 Earnings Guidance

Stryker (NYSE:SYK - Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 11.850-12.050 for the period, compared to the consensus earnings per share estimate of 11.850. The company issued revenue guidance of -. Stryker also updated its FY24 guidance to $11.85-$12.05 EPS.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SYK. Truist Financial upped their price objective on Stryker from $330.00 to $345.00 and gave the stock a hold rating in a research note on Wednesday, January 31st. Canaccord Genuity Group raised Stryker from a hold rating to a buy rating and set a $360.00 price objective for the company in a research note on Wednesday, January 31st. Roth Mkm boosted their target price on Stryker from $345.00 to $348.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. StockNews.com upgraded Stryker from a hold rating to a buy rating in a research report on Tuesday, January 23rd. Finally, Wells Fargo & Company boosted their target price on Stryker from $336.00 to $364.00 and gave the stock an overweight rating in a research report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Stryker has an average rating of Moderate Buy and a consensus price target of $340.67.

Stryker Trading Down 0.8 %

Shares of SYK traded down $2.55 during mid-day trading on Tuesday, reaching $336.32. 2,480,477 shares of the company's stock traded hands, compared to its average volume of 1,301,242. The stock has a market cap of $127.96 billion, a P/E ratio of 41.09, a P/E/G ratio of 2.70 and a beta of 0.89. The stock's 50-day moving average is $348.68 and its two-hundred day moving average is $316.14. Stryker has a 12 month low of $249.98 and a 12 month 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.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.10 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 EPS. Research analysts forecast that Stryker will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a $0.80 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.95%. Stryker's dividend payout ratio (DPR) is 38.79%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 201,146 shares of the firm's stock in a transaction dated 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 sale, 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 Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction dated 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 sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 212,109 shares of company stock worth $72,845,768. Insiders own 5.50% of the company's stock.

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.

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