FY2024 Earnings Forecast for Stryker Issued By Roth Capital

Stryker Co. (NYSE:SYK) – Analysts at Roth Capital boosted their FY2024 EPS estimates for Stryker in a report released on Wednesday, October 30th. Roth Capital analyst J. Wittes now expects that the medical technology company will post earnings of $12.10 per share for the year, up from their previous estimate of $12.00. The consensus estimate for Stryker’s current full-year earnings is $12.00 per share. Roth Capital also issued estimates for Stryker’s Q4 2024 earnings at $3.92 EPS, FY2025 earnings at $13.56 EPS and FY2026 earnings at $14.97 EPS.

A number of other brokerages also recently commented on SYK. Barclays boosted their price objective on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday. Needham & Company LLC boosted their price target on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup increased their price objective on Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI lifted their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Trading Down 2.0 %

NYSE:SYK opened at $356.28 on Thursday. The stock’s 50-day moving average is $359.90 and its two-hundred day moving average is $344.06. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The stock has a market cap of $135.72 billion, a PE ratio of 40.67, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91. Stryker has a fifty-two week low of $264.85 and a fifty-two week high of $374.63.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.78 by $0.09. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. Stryker’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.46 earnings per share.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Monday, September 30th. Stryker’s dividend payout ratio is currently 36.53%.

Insider Activity at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,068 shares of company stock worth $65,151,372 in the last ninety days. 5.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Patrick M Sweeney & Associates Inc. increased its holdings in Stryker by 1.5% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Stryker by 2.4% in the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after acquiring an additional 33 shares in the last quarter. Versant Capital Management Inc raised its holdings in Stryker by 4.0% during the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after acquiring an additional 33 shares in the last quarter. Stanley Laman Group Ltd. raised its stake in shares of Stryker by 4.6% during the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after purchasing an additional 33 shares in the last quarter. Finally, Plimoth Trust Co. LLC raised its position in Stryker by 0.3% during the second quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after acquiring an additional 33 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.