Q2 2024 EPS Estimates for Stryker Co. Cut by Zacks Research (NYSE:SYK)

Stryker Co. (NYSE:SYK) – Equities researchers at Zacks Research decreased their Q2 2024 earnings per share estimates for Stryker in a report released on Tuesday, May 21st. Zacks Research analyst I. Bandyopadhyay now anticipates that the medical technology company will earn $2.79 per share for the quarter, down from their prior forecast of $2.82. The consensus estimate for Stryker’s current full-year earnings is $11.95 per share. Zacks Research also issued estimates for Stryker’s Q4 2024 earnings at $3.81 EPS, FY2024 earnings at $11.90 EPS, Q1 2025 earnings at $2.75 EPS, Q2 2025 earnings at $3.19 EPS, Q3 2025 earnings at $3.17 EPS, Q4 2025 earnings at $4.23 EPS, FY2025 earnings at $13.35 EPS, Q1 2026 earnings at $3.04 EPS and FY2026 earnings at $14.31 EPS.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. Stryker’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $2.14 EPS.

A number of other research firms have also issued reports on SYK. Citigroup raised their target price on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Needham & Company LLC upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 price objective on the stock in a research note on Wednesday. Wells Fargo & Company upped their target price on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Robert W. Baird raised their price target on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective on the stock in a report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $367.32.

Stryker Trading Down 1.6 %

Shares of NYSE:SYK opened at $330.12 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. The stock’s 50-day moving average is $340.18 and its 200-day moving average is $323.43. The company has a market cap of $125.76 billion, a P/E ratio of 37.68, a P/E/G ratio of 2.60 and a beta of 0.91. Stryker has a 52-week low of $249.98 and a 52-week high of $361.41.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. Stryker’s dividend payout ratio is presently 36.53%.

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Stryker

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Stryker by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after buying an additional 309,592 shares in the last quarter. Greenleaf Trust boosted its holdings in Stryker by 0.6% in the first quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock valued at $6,655,089,000 after acquiring an additional 108,080 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after purchasing an additional 642,178 shares during the period. JPMorgan Chase & Co. raised its holdings in Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after purchasing an additional 813,311 shares during the last quarter. Finally, FMR LLC lifted its position in Stryker by 2.5% during the 3rd quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock valued at $1,632,127,000 after purchasing an additional 144,208 shares during the period. Institutional investors own 77.09% of the company’s stock.

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.