Stryker (NYSE:SYK – Get Free Report) issued its earnings results on Tuesday. The medical technology company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14, Briefing.com reports. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.44%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.14 EPS. Stryker updated its FY24 guidance to $11.85-$12.05 EPS and its FY 2024 guidance to 11.850-12.050 EPS.
Stryker Stock Down 2.5 %
Shares of Stryker stock opened at $328.14 on Thursday. The company has a market cap of $124.85 billion, a price-to-earnings ratio of 37.46, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. The company’s 50 day moving average is $348.05 and its 200 day moving average is $316.78. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59.
Stryker Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were given a dividend of $0.80 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.98%. Stryker’s dividend payout ratio (DPR) is 36.53%.
Insider Activity at Stryker
Wall Street Analyst Weigh In
SYK has been the topic of a number of recent analyst reports. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Royal Bank of Canada raised their price target on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Wells Fargo & Company raised their price target on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a report on Wednesday. BTIG Research raised their price target on shares of Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, TD Cowen raised their price target on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $357.05.
Get Our Latest Research Report on SYK
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.
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