Stryker (SYK) Set to Announce Earnings on Tuesday

Stryker (NYSE:SYK) will announce its earnings results after the market closes on Tuesday, July 30th. Analysts expect the company to announce earnings of $2.79 per share for the quarter. Stryker has set its FY24 guidance at $11.85-$12.05 EPS and its FY 2024 guidance at 11.850-12.050 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $2.14 earnings per share. On average, analysts expect Stryker to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Stryker Stock Performance

SYK opened at $331.67 on Monday. 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 company has a market cap of $126.35 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 2.61 and a beta of 0.89. Stryker has a 52-week low of $249.98 and a 52-week high of $361.41. The firm’s fifty day simple moving average is $338.99 and its two-hundred day simple moving average is $339.32.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is 36.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SYK shares. Robert W. Baird lifted their price target on shares of Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Piper Sandler lifted their price target on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group started coverage on shares of Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price target for the company. Morgan Stanley lifted their price target on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Finally, Citigroup lifted their price target on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $372.05.

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.