Stryker (NYSE:SYK) Releases FY24 Earnings Guidance

Stryker (NYSE:SYK) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $11.90-12.10 for the period, compared to the consensus estimate of $11.95. Stryker also updated its FY 2024 guidance to 11.900-12.100 EPS.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of research reports. Morgan Stanley increased their price target on Stryker from $345.00 to $350.00 and gave the stock an equal weight rating in a research report on Monday, July 15th. Wells Fargo & Company raised their target price on Stryker from $364.00 to $381.00 and gave the company an overweight rating in a research note on Wednesday, May 1st. Evercore ISI dropped their price objective on shares of Stryker from $370.00 to $365.00 and set an outperform rating on the stock in a report on Tuesday, July 2nd. Royal Bank of Canada lifted their price objective on shares of Stryker from $360.00 to $386.00 and gave the company an outperform rating in a research report on Monday, April 15th. Finally, StockNews.com upgraded shares of Stryker from a hold rating to a buy rating in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $372.05.

Stryker Price Performance

Shares of SYK traded down $3.06 during midday trading on Tuesday, reaching $330.22. The stock had a trading volume of 2,352,786 shares, compared to its average volume of 1,301,805. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. The company has a market capitalization of $125.80 billion, a P/E ratio of 37.76, a P/E/G ratio of 2.61 and a beta of 0.89. The firm’s 50 day moving average price is $339.05 and its 200-day moving average price is $339.49. Stryker has a 52 week low of $249.98 and a 52 week high of $361.41.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the company earned $2.54 earnings per share. Stryker’s revenue was up 8.5% compared to the same quarter last year. On average, analysts forecast that Stryker will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Friday, June 28th. Stryker’s payout ratio is 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.