Stryker Co. Announces Quarterly Dividend of $0.80 (NYSE:SYK)

Stryker Co. (NYSE:SYK) declared a quarterly dividend on Thursday, May 9th, Zacks reports. Investors of record on Friday, June 28th will be given a dividend of 0.80 per share by the medical technology company on Wednesday, July 31st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Friday, June 28th.

Stryker has raised its dividend by an average of 9.0% per year over the last three years and has increased its dividend annually for the last 31 consecutive years. Stryker has a dividend payout ratio of 23.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Stryker to earn $13.35 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 24.0%.

Stryker Stock Performance

NYSE SYK opened at $330.86 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41. The business has a 50-day moving average price of $345.60 and a 200-day moving average price of $318.91. The firm has a market cap of $126.04 billion, a price-to-earnings ratio of 37.77, a price-to-earnings-growth ratio of 2.54 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the previous year, the firm earned $2.14 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts predict that Stryker will post 11.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on SYK. Evercore ISI boosted their price target on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a report on Wednesday, May 1st. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective on the stock in a report on Wednesday, January 31st. BTIG Research upped their price objective on Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Roth Mkm upped their price objective on Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $365.94.

Insider Buying and Selling at Stryker

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

Stryker Company Profile

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.