Stryker Co. (NYSE:SYK) Forecasted to Earn Q2 2024 Earnings of $2.91 Per Share

Stryker Co. (NYSE:SYK) – Equities researchers at Roth Capital raised their Q2 2024 EPS estimates for shares of Stryker in a research report issued on Wednesday, May 1st. Roth Capital analyst J. Wittes now anticipates that the medical technology company will post earnings per share of $2.91 for the quarter, up from their prior forecast 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.

Other research analysts have also issued research reports about the company. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. UBS Group boosted their price objective on Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Stryker in a research note on Wednesday. Stifel Nicolaus lifted their target price on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Robert W. Baird upped their price target on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $357.05.

Stryker Price Performance

SYK stock opened at $328.14 on Thursday. The stock has a market cap of $124.85 billion, a PE ratio of 37.46, a P/E/G ratio of 2.71 and a beta of 0.91. Stryker has a 12 month low of $249.98 and a 12 month high of $361.41. The company has a 50-day moving average price of $348.05 and a 200 day moving average price of $316.78. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 23.44% and a net margin of 16.03%. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period last year, the company earned $2.14 earnings per share. Stryker’s revenue was up 9.7% on a year-over-year basis.

Institutional Investors Weigh In On Stryker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brookstone Capital Management grew its position in Stryker by 6.9% during the 3rd quarter. Brookstone Capital Management now owns 8,022 shares of the medical technology company’s stock worth $2,153,000 after purchasing an additional 521 shares during the last quarter. Accurate Wealth Management LLC increased its position in shares of Stryker by 10.4% in the 3rd quarter. Accurate Wealth Management LLC now owns 815 shares of the medical technology company’s stock valued at $218,000 after acquiring an additional 77 shares during the period. Kingswood Wealth Advisors LLC raised its stake in Stryker by 28.4% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 904 shares of the medical technology company’s stock worth $247,000 after acquiring an additional 200 shares during the last quarter. Tectonic Advisors LLC lifted its position in Stryker by 5.0% during the 3rd quarter. Tectonic Advisors LLC now owns 2,153 shares of the medical technology company’s stock worth $588,000 after acquiring an additional 102 shares during the period. Finally, Raymond James & Associates grew its stake in Stryker by 1.6% during the 3rd quarter. Raymond James & Associates now owns 563,217 shares of the medical technology company’s stock valued at $153,910,000 after purchasing an additional 9,005 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated 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 filing with the SEC, 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 shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares in the company, valued at $4,856,522. The disclosure for this sale can be found here. In the last three months, insiders sold 212,109 shares of company stock valued at $72,845,768. Corporate insiders own 5.90% of the company’s stock.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were issued a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.98%. Stryker’s dividend payout ratio is presently 36.53%.

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.