Stryker (NYSE:SYK) Releases FY24 Earnings Guidance

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

Wall Street Analyst Weigh In

SYK has been the subject of several analyst reports. Evercore ISI lowered their target price on shares of Stryker from $370.00 to $365.00 and set an outperform rating for the company in a report on Tuesday, July 2nd. The Goldman Sachs Group initiated coverage on Stryker in a research note on Thursday, May 30th. They set a neutral rating and a $372.00 target price on the stock. Wells Fargo & Company raised their price target on Stryker from $364.00 to $381.00 and gave the stock an overweight rating in a research note on Wednesday, May 1st. BTIG Research cut their price objective on Stryker from $372.00 to $360.00 and set a buy rating on the stock in a research report on Wednesday. Finally, Robert W. Baird lifted their target price on Stryker from $367.00 to $378.00 and gave the stock an outperform rating in a research report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $373.11.

Stryker Stock Performance

Shares of NYSE:SYK traded down $7.94 during midday trading on Friday, reaching $325.23. The company’s stock had a trading volume of 529,821 shares, compared to its average volume of 1,313,981. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average of $338.95 and a 200 day moving average of $339.48. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41. The firm has a market capitalization of $123.90 billion, a PE ratio of 37.71, a P/E/G ratio of 2.57 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 23.26% and a net margin of 16.12%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.54 earnings per share. On average, equities analysts expect that Stryker will post 11.98 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a $0.80 dividend. The ex-dividend date was Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.98%. Stryker’s payout ratio is 36.53%.

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.