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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 $353.22, up 1.19% from the previous day, and has increased 35.87% in one year. It has overperformed other stocks in the Medical Devices industry by 0.46 percentage points. Stryker stock is currently +41.3% from its 52-week low of $249.98, and -1.17% from its 52-week high of $357.40.

As of Mar 1, 2024, there are 380.26M SYK shares outstanding. The market value of SYK is $134.32B. In the past 24 hours, 1.31M SYK shares were traded.

How to Buy Stryker Stock

Wondering how to invest in Stryker stock? Here's how.
  1. 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.
  2. Sign up for a brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've selected.
  3. Deposit funds into your investment account: Choose your method of payment and add your information.
  4. 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).
  5. 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.
  6. 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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Step 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:

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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 Price
$353.22
1w %
-0.51%
1y %
35.87%
5y %
84.37%
P/E
42.35x
P/B
7.22x
P/S
6.54x
PEG
2.33x
Revenue
$20.50B
Earnings
$3.17B
Fore. Rev. Growth
6.33%
Fore. Earn. Growth
18.16%
Market Cap
$134.32B
Next Earnings
Apr 29, 2024
Next Dividend
Apr 30, 2024

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 42.35x, relative to Medical Devices industry P/E ratio of 28.97x
  • SYK could be overvalued based on its P/B ratio of 7.22x, relative to Medical Devices industry P/B ratio of 4.01x
  • SYK could be overvalued based on its PEG ratio of 2.33x

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 9 sell side analysts who track SYK, the consensus analyst rating on Stryker is a Strong Buy

Please keep in mind that analyst ratings are not stock recommendations, nor are they financial advice.

Most Recent SYK Analyst Recommendations

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.

Wells Fargo's Larry Biegelsen raised their price target on Stryker (NYSE: SYK) by 8.3% from $336 to $364 on 2024/01/31. The analyst maintained their Strong Buy rating on the stock.

Biegelsen's update followed an assessment of Stryker's 2024/01/30-dated Q4 and FY 2023 earnings report and participation in the earnings call.

Management guided 7.5% to 9% organic sales growth and an $11.70 to $12 EPS for 2024, while Q4 sales and EPS easily surpassed expectations, the analyst told investors.

However, the midpoint of management's EPS guidance is well above consensus," Biegelsen noted.

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.”

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 3% 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.

Travis Steed, a top 28% analyst from Bank of America upgrades SYK to a strong buy rating and announces their SYK price target of $315.00, on Sep 5, 2023.

You can dig deeper into what analysts are forecasting on the Stryker stock forecast page.

Metrics for Advanced SYK Traders

SMA10
351.19
SMA20
346.97
SMA50
322.95
SMA100
301.23
SMA200
293.38
MACD
8.51
MACD Signal
9.55
MACD Histogram
-1.04
RSI
69.15
Stochastic %K
71.39
Stochastic %D
72.11
StochRSI %K
14.02
StochRSI %D
13.15

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 9.22%.

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 12.74%.

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.

Glenn S. Boehnlein, VP Chief Financial Officer of SYK, was the latest SYK insider to sell. They sold $3,290,956.80 worth of SYK shares on Feb 9, 2024.

Research more about who owns SYK shares here.

Does SYK stock generate passive income?

Stryker pays a dividend of 0.86%, compared to the Medical Devices industry's average dividend yield of 1.46%. If you owned $1,000 worth of SYK stock, you would have been paid $8.63 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.

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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:

  1. Decide where to buy Stryker stock
  2. Sign up for a brokerage account
  3. Deposit funds into your investment account
  4. Analyze Stryker stock
  5. Make your SYK purchase
  6. Monitor your investment in SYK

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If you want to keep track of your investment in Stryker, click the button below.

NYSE: SYK
$353.22+4.15 (+1.19%)
Updated Mar 1, 2024
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NYSE: SYK
$353.22+4.15 (+1.19%)
Updated Mar 1, 2024
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FAQ

How much does it cost to buy one Stryker share?

As of Mar 1, 2024, it costs $353.22 to buy one share of Stryker stock.

Remember, eToro's fractional share buying allows you to buy partial shares of stocks and ETFs. Even if you only have $100, you can buy 0.283 shares of SYK.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Is now a good time to buy Stryker stock?

According to 9 Wall Street analysts who monitor Stryker, their consensus recommendation is to buy Stryker stock.

What is the best way to buy Stryker stock?

One way to place an order for Stryker stock is with a brokerage account.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.