Roth Capital Issues Optimistic Forecast for Stryker Earnings

Stryker Co. (NYSE:SYK) – Equities researchers at Roth Capital boosted their FY2024 earnings estimates for Stryker in a report released on Wednesday, October 30th. Roth Capital analyst J. Wittes now expects that the medical technology company will earn $12.10 per share for the year, up from their prior forecast of $12.00. The consensus estimate for Stryker’s current full-year earnings is $12.05 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.

SYK has been the topic of several other research reports. Wolfe Research started coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Canaccord Genuity Group increased their price target on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company increased their price target on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Morgan Stanley raised their target price on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Trading Up 3.1 %

NYSE SYK opened at $367.15 on Thursday. The stock has a market capitalization of $139.91 billion, a P/E ratio of 39.35, a PEG ratio of 2.79 and a beta of 0.91. Stryker has a 12 month low of $266.93 and a 12 month high of $374.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 0.95. The firm’s 50-day moving average is $360.18 and its two-hundred day moving average is $344.26.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the prior year, the firm posted $2.46 earnings per share. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Centennial Bank AR boosted its stake in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Stryker in the first quarter worth $39,000. HBW Advisory Services LLC bought a new stake in shares of Stryker during the third quarter worth $42,000. Hara Capital LLC bought a new stake in shares of Stryker during the third quarter worth $42,000. Finally, Grove Bank & Trust raised its position in shares of Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 56 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction on 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 owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was 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 200,068 shares of company stock worth $65,151,372. 5.90% of the stock is currently owned by company insiders.

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 issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 34.30%.

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.