Stryker Co. (NYSE:SYK – Get Rating) – Oppenheimer issued their Q1 2023 earnings estimates for shares of Stryker in a report released on Wednesday, February 1st. Oppenheimer analyst S. Lichtman expects that the medical technology company will post earnings per share of $2.01 for the quarter. The consensus estimate for Stryker's current full-year earnings is $9.83 per share. Oppenheimer also issued estimates for Stryker's Q2 2023 earnings at $2.46 EPS, Q3 2023 earnings at $2.41 EPS, Q4 2023 earnings at $3.12 EPS and FY2024 earnings at $11.11 EPS.
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Stryker (NYSE:SYK – Get Rating) last posted its earnings results on Tuesday, January 31st. The medical technology company reported $3.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.84 by $0.16. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.97 billion. Stryker had a net margin of 12.78% and a return on equity of 22.70%. Stryker's revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business posted $2.71 EPS.
A number of other equities analysts also recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Stryker in a research note on Wednesday, October 12th. They issued a "buy" rating and a $270.00 target price for the company. Cowen boosted their price objective on shares of Stryker from $233.00 to $283.00 in a report on Wednesday, December 14th. KeyCorp started coverage on shares of Stryker in a report on Wednesday, January 25th. They issued a "sector weight" rating for the company. Canaccord Genuity Group lowered shares of Stryker from a "buy" rating to a "hold" rating and cut their price objective for the stock from $225.00 to $220.00 in a research report on Tuesday, November 1st. Finally, Canaccord Genuity Group boosted their price objective on shares of Stryker from $220.00 to $250.00 and gave the stock a "hold" rating in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $271.32.
Stryker Price Performance
Shares of Stryker stock opened at $282.48 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.19 and a current ratio of 2.04. The firm's 50-day simple moving average is $247.78 and its 200-day simple moving average is $226.11. Stryker has a twelve month low of $188.84 and a twelve month high of $282.56. The firm has a market cap of $106.90 billion, a P/E ratio of 45.35, a price-to-earnings-growth ratio of 2.83 and a beta of 0.93.
Institutional Investors Weigh In On Stryker
A number of institutional investors and hedge funds have recently bought and sold shares of the company. AMG National Trust Bank increased its position in Stryker by 18.0% during the 3rd quarter. AMG National Trust Bank now owns 18,650 shares of the medical technology company's stock valued at $3,778,000 after buying an additional 2,851 shares in the last quarter. J.W. Cole Advisors Inc. raised its holdings in Stryker by 5.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 2,757 shares of the medical technology company's stock worth $558,000 after purchasing an additional 132 shares during the period. Lincoln National Corp raised its holdings in Stryker by 8.0% in the 2nd quarter. Lincoln National Corp now owns 5,668 shares of the medical technology company's stock worth $1,128,000 after purchasing an additional 421 shares during the period. Asset Dedication LLC acquired a new position in shares of Stryker during the third quarter valued at approximately $184,000. Finally, SG Americas Securities LLC raised its holdings in shares of Stryker by 117.7% during the second quarter. SG Americas Securities LLC now owns 18,095 shares of the medical technology company's stock valued at $3,600,000 after acquiring an additional 9,782 shares during the last quarter. 77.10% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, Director Srikant M. Datar sold 300 shares of the firm's stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $212.36, for a total value of $63,708.00. Following the transaction, the director now owns 4,861 shares of the company's stock, valued at $1,032,281.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Kevin Lobo sold 67,232 shares of Stryker stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $239.68, for a total value of $16,114,165.76. Following the completion of the transaction, the chief executive officer now owns 80,770 shares in the company, valued at approximately $19,358,953.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Srikant M. Datar sold 300 shares of the business's stock in a transaction on Monday, November 7th. The shares were sold at an average price of $212.36, for a total value of $63,708.00. Following the transaction, the director now owns 4,861 shares of the company's stock, valued at approximately $1,032,281.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,139 shares of company stock valued at $19,150,115. Insiders own 6.70% of the company's stock.
Stryker Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.06%. This is a boost from Stryker's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, December 29th. Stryker's dividend payout ratio (DPR) is presently 48.62%.
Stryker Company Profile
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Stryker Corp. operates as a medical technology company. It operates through the following segments: Orthopaedics & Spine and MedSurg & Neurotechnology. The Orthopaedics & Spine segment provides implants for use in total joint replacements, such as hip, knee, and shoulder, and trauma and extremities surgeries.
Further Reading
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