Update from Stryker Corporation (SYK): A steady trajectory

The closing price of Stryker Corporation (NYSE: SYK) was $275.69 for the day, up 3.37% from the previous closing price of $266.71. In other words, the price has increased by $+8.98 from its previous closing price. On the day, 2192937 shares were traded. SYK stock price reached its highest trading level at $276.37 during the session, while it also had its lowest trading level at $268.55.

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Our analysis of SYK’s different ratios will help us gain a deeper understanding of the company. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 54.92 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 107.50. For the most recent quarter (mrq), Quick Ratio is recorded 1.00 and its Current Ratio is at 1.60. In the meantime, Its Debt-to-Equity ratio is 0.79 whereas as Long-Term Debt/Eq ratio is at 0.71.

Upgrades & Downgrades

On January 09, 2023, RBC Capital Mkts Upgraded its rating to Outperform which previously was Sector Perform and also upped its target price recommendation from $240 to $284.

Canaccord Genuity Downgraded its Buy to Hold on November 01, 2022, whereas the target price for the stock was revised from $225 to $220.

Insider Transactions:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Feb 28 when Golston Allan C. sold 5,459 shares for $263.27 per share. The transaction valued at 1,437,180 led to the insider holds 13,537 shares of the business.

Menon Viju sold 2,161 shares of SYK for $571,166 on Feb 09. The Group President now owns 10,611 shares after completing the transaction at $264.31 per share. On Feb 07, another insider, STRYKER RONDA E, who serves as the Director of the company, sold 212,200 shares for $271.21 each. As a result, the insider received 57,551,545 and left with 4,730,754 shares of the company.

Valuation Measures:

As of this moment, Stryker’s Price-to-Earnings (P/E) ratio for their current fiscal year is 44.68, and their Forward P/E ratio for the next fiscal year is 24.77. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 4.83. For the stock, the TTM Price-to-Sale (P/S) ratio is 5.74 while its Price-to-Book (P/B) ratio in mrq is 6.28.

Stock Price History:

Over the past 52 weeks, SYK has reached a high of $284.00, while it has fallen to a 52-week low of $188.84. The 50-Day Moving Average of the stock is 261.85, while the 200-Day Moving Average is calculated to be 228.60.

Shares Statistics:

SYK traded an average of 1.32M shares per day over the past three months and 1.29M shares per day over the past ten days. A total of 378.50M shares are outstanding, with a floating share count of 371.63M. Insiders hold about 0.10% of the company’s shares, while institutions hold 79.80% stake in the company. Shares short for SYK as of Jan 12, 2023 were 5.62M with a Short Ratio of 5.23M, compared to 4.98M on Dec 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 1.48% and a Short% of Float of 1.60%.

Dividends & Splits

With its trailing 12-month dividend rate of 2.41, SYK has a forward annual dividend rate of 3.00. Against a Trailing Annual Dividend Yield of 0.90%, it implies a Forward Annual Dividend Yield of 1.12%. The stock’s 5-year Average Dividend Yield is 1.07. The current Payout Ratio is 45.50% for SYK, which recently paid a dividend on Apr 27, 2023 with an ex-dividend date of Dec 28, 2022. Stock splits for the company last occurred on May 16, 2004 when the company split stock in a 2:1 ratio.

Earnings Estimates

The firm’s stock currently is rated by 23 analysts. On average, analysts expect EPS of $2 for the current quarter, with a high estimate of $2.11 and a low estimate of $1.96, while EPS last year was $1.97. The consensus estimate for the next quarter is $2.36, with high estimates of $2.48 and low estimates of $2.26.

Analysts are recommending an EPS of between $10.17 and $9.86 for the fiscal current year, implying an average EPS of $10.02. EPS for the following year is $11.12, with 24 analysts recommending between $11.57 and $10.89.

Revenue Estimates

It is expected that $90B in revenue will be generated in the current quarter, according to 20 analysts. It ranges from a high estimate of $4.69B to a low estimate of $4.46B. As of the current estimate, Stryker Corporation’s year-ago sales were $4.28B, an estimated increase of 6.60% from the year-ago figure. For the next quarter, 20 analysts are estimating revenue of $4.81B, an increase of 7.10% over than the figure of $6.60% in the same quarter last year. There is a high estimate of $4.9B for the next quarter, whereas the lowest estimate is $4.72B.

A total of 26 analysts have provided revenue estimates for SYK’s current fiscal year. The highest revenue estimate was $19.95B, while the lowest revenue estimate was $19.17B, resulting in an average revenue estimate of $19.77B. In the same quarter a year ago, actual revenue was $18.45B, up 7.10% from the average estimate. Based on 26 analysts’ estimates, the company’s revenue will be $21.14B in the next fiscal year. The high estimate is $21.54B and the low estimate is $20.3B. The average revenue growth estimate for next year is up 6.90% from the average revenue estimate for this year.