How to Buy Stryker Stock
Stryker Corp
Stryker is a medical device company located in Michigan, United States, which is part of the Healthcare sector, and is traded under the ticker SYK on the NYSE exchange.
Stryker stock last closed at $327.45, down 2.55% from the previous day, and has increased 12.56% in one year. It has overperformed other stocks in the Medical Devices industry by 0.29 percentage points. Stryker stock is currently +30.99% from its 52-week low of $249.98, and -9.4% from its 52-week high of $361.41.
As of Apr 18, 2024, there are 380.26M SYK shares outstanding. The market value of SYK is $124.52B. In the past 24 hours, 2.09M SYK shares were traded.
How to Buy Stryker Stock
Wondering how to invest in Stryker stock? Here's how.
- Decide where to buy Stryker stock: You need to decide on an online brokerage, but don't worry - we've researched dozens of stock brokerages and apps to help you decide where to buy Stryker stock.
- Sign up for a brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've selected.
- Deposit funds into your investment account: Choose your method of payment and add your information.
- Analyze Stryker stock: The Stryker ticker symbol is SYK. Is Stryker stock a good investment? Should you buy shares of SYK? How do SYK's underlying business fundamentals look? Do top analysts think Stryker is a good buy? Why has SYK's stock price moved recently? (Hint: Our stock research tools can help you evaluate if SYK is a good stock to buy).
- Make your SYK purchase: Decide if you will purchase SYK shares at the current market price or use a limit order to buy SYK shares at a particular price.
- Monitor your investment in SYK: Create a watchlist to monitor your investment in Stryker stock.
Step 1: Decide where to buy Stryker stock
You need an online brokerage account in order to access the NYSE market and buy SYK stock.
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Open eToro AccountStep 2: Sign up for a brokerage account
Now that you've picked your brokerage, the next step is to fill out some personal info so you are able to buy SYK stock today.
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Step 3: Deposit funds into your investment account
Now that you have finished signing up on one of the best stock trading apps, you need to deposit funds:
Check out the walkthrough below if you need help transferring funds into your new brokerage account.
Step 4: Analyze Stryker stock
Once you have chosen the best place to buy Stryker stock, it's important to evaluate their stock prior to buying, so you can comprehend the risk as well as the opportunity.
Stryker quick stats
SYK Overview
WallStreetZen was created to help part-time investors perform more in-depth fundamental analysis in less time.
You can see all of the due diligence checks on SYK's stock page.
Is SYK stock overvalued?
Analysts use a variety of different financial metrics, analyses, models, and charts to gauge SYK's true value.
Using relative valuations ratios:
- SYK may be overvalued based on its P/E ratio of 39.26x, relative to Medical Devices industry P/E ratio of 28.61x
- SYK could be overvalued based on its P/B ratio of 6.7x, relative to Medical Devices industry P/B ratio of 3.63x
- SYK could be overvalued based on its PEG ratio of 2.16x
You can do additional valuation analysis on SYK's stock here.
A look at SYK Cashflows and Balance Sheet
Pros:
- Total SYK debt is lower than 5 years ago, relative to shareholder equity.
- There are more short-term assets than short-term liabilities on the SYK balance sheet.
- SYK profit margin has gone up from 12.8% to 15.4% in the past year.
- SYK earnings of $3.67B is not enough to cover its interest payments.
- SYK's operating cash flow of $3.71B allows it to safely service it's debt of $13.00B.
Cons:
- SYK has a relatively high debt to equity ratio of 1.15.
- There are more long-term liabilities than short-term assets on the SYK balance sheet.
Is it a good time to buy SYK stock, according to Wall Street analysts?
Out of 10 sell side analysts who track SYK, the consensus analyst rating on Stryker is a Buy
Please keep in mind that analyst ratings are not stock recommendations, nor are they financial advice.
Most Recent SYK Analyst Recommendations
Jason Wittes, a top 20% analyst from Roth MKM maintains SYK with a strong buy rating and raises their SYK price target from $345.00 to $348.00, on Jan 31, 2024.
Kyle Rose, a top 10% analyst from Canaccord Genuity upgrades SYK to a strong buy rating and announces their SYK price target of $360.00, on Jan 31, 2024.
Canaccord Genuity's Kyle Rose upgraded their rating on Stryker (NYSE: SYK) from Hold to Strong Buy on 2024/01/31. The analyst also raised their price target by 14.3%, from $315 to $360.
Rose said they upgraded the stock and hiked their price target on Stryker after reviewing the company's Q4 and FY 2023 earnings, reported on 2024/01/30.
The company turned in a "strong" Q4 in the face of a tough Q4 2022 comp, "beating on the top and bottom lines and continuing to note healthy capital demand," the analyst detailed.
Earnings Report
Stryker reported:
For Q4 2023:
- EPS of $3.46, which beat the Zacks Consensus Estimate of $3.27 and, by 15.3%, Q4 2022’s $3.00.
- Revenue of $5.8B, which beat the Zacks Consensus Estimate of $5.6B and, by 11.8%, Q4 2022’s $5.2B.
- Organic revenue growth of 11.4%.
For FY 2023:
- EPS of $10.60, up 13.5% Y/Y.
- Revenue of $20.5B, up 11.1% Y/Y.
- Organic revenue growth of 11.5%.
For FY 2024, management guided:
- EPS of $11.70 to $12.
- Organic revenue growth of 7.5% to 9%.
Chairman & CEO Kevin Lobo commented: "We drove excellent organic sales growth of over 11% in both Q4 and FY 2023, and delivered strong adjusted earnings.
"It was exciting to surpass $20B in sales as we continue to drive high growth.”
Larry Biegelsen, a top 13% analyst from Wells Fargo maintains SYK with a strong buy rating and raises their SYK price target from $336.00 to $364.00, on Jan 31, 2024.
Drew Ranieri, a bottom 11% analyst from Morgan Stanley maintains SYK with a hold rating and raises their SYK price target from $300.00 to $320.00, on Dec 4, 2023.
Danielle Antalffy, a bottom 4% analyst from UBS maintains SYK with a hold rating and raises their SYK price target from $289.00 to $297.00, on Nov 9, 2023.
You can dig deeper into what analysts are forecasting on the Stryker stock forecast page.
Metrics for Advanced SYK Traders
SYK Growth Numbers
Last year, SYK earnings were $3.17B. During the past 5 year, SYK's earnings have gone up by -2.57% per year. This was slower than the Medical Devices industry average of 9.19%.
Last year, SYK revenue was $20.50B. In the past five year, SYK's revenue has increased by 8.55% per year. This was slower than the Medical Devices industry average of 13.47%.
Find out more about SYK's earnings and revenue performance here.
What are SYK insiders up to?
In the last year, insiders at SYK have sold more shares than they have bought.
James Andrew Pierce, Group President of SYK, was the latest SYK insider to sell. They sold $1,558,274.28 worth of SYK shares on Mar 21, 2024.
Research more about who owns SYK shares here.
Does SYK stock generate passive income?
Stryker pays a dividend of 0.95%, compared to the Medical Devices industry's average dividend yield of 1.59%. If you owned $1,000 worth of SYK stock, you would have been paid $9.47 last year.
Stryker dividend payments have consistently grown over the past decade and have remained stable.
Dig into more info about Stryker dividend yield and history here.
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Step 5: Make your SYK purchase
You have two main options:
- Market order: A market order is an order to buy or sell a stock at the best available price.
Market orders are mostly the best for newer investors. - Limit order: A limit order is an order to buy or sell a stock at a specific price (or better).
If you want to ensure you're buying or selling at a particular dollar amount, place a limit order.
Press the Open button and your broker will place your order.
If you require more help with investing in stocks on eToro, click the helpful video below:
Step 6: Monitor your investment in SYK
Now that you own some SYK stock, you'll want to keep up with your new stock purchase.
Put SYK on a watchlist to track your SYK stock.
SYK Feed
How to Buy Stock in Stryker
To summarize, here are the 6 steps to buy Stryker stock:
- Decide where to buy Stryker stock
- Sign up for a brokerage account
- Deposit funds into your investment account
- Analyze Stryker stock
- Make your SYK purchase
- Monitor your investment in SYK
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