Stryker (SYK) Scheduled to Post Quarterly Earnings on Tuesday

Stryker (NYSE:SYK - Get Free Report) is set to post its quarterly earnings results after the market closes on Tuesday, October 29th. Analysts expect Stryker to post earnings of $2.78 per share for the quarter. Stryker has set its FY24 guidance at $11.90-12.10 EPS and its FY 2024 guidance at 11.900-12.100 EPS.Persons that are interested in registering for the company's earnings conference call can do so using this link.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm's revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.54 EPS. 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

Shares of NYSE SYK traded down $1.05 during midday trading on Tuesday, reaching $366.20. 893,450 shares of the company were exchanged, compared to its average volume of 1,250,070. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The stock has a market cap of $139.50 billion, a P/E ratio of 41.92, a PEG ratio of 2.85 and a beta of 0.91. Stryker has a one year low of $255.22 and a one year high of $374.63. The stock's 50-day moving average price is $356.63 and its 200-day moving average price is $343.34.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, September 30th. Stryker's dividend payout ratio (DPR) is currently 36.53%.

Insider Buying and Selling at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company's stock, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares of the company's stock, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,068 shares of company stock worth $71,811,372. Insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SYK. StockNews.com upgraded Stryker from a "hold" rating to a "buy" rating in a research report on Tuesday, October 1st. UBS Group boosted their price target on shares of Stryker from $351.00 to $366.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Barclays increased their price objective on shares of Stryker from $374.00 to $402.00 and gave the stock an "overweight" rating in a research report on Thursday, August 1st. Royal Bank of Canada restated an "outperform" rating and issued a $386.00 target price on shares of Stryker in a report on Wednesday, July 31st. Finally, BTIG Research increased their price target on Stryker from $374.00 to $383.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $381.16.

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.