Stryker Corporation Announces Quarterly Dividend of $0.43 (SYK)
Stryker Corporation (NYSE:SYK) announced a quarterly dividend on Thursday, August 3rd, Zacks reports. Shareholders of record on Friday, September 29th will be given a dividend of 0.425 per share by the medical technology company on Tuesday, October 31st. This represents a $1.70 annualized dividend and a yield of 1.16%. The ex-dividend date is Thursday, September 28th.
Stryker Corporation has increased its dividend payment by an average of 12.8% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Stryker Corporation has a payout ratio of 26.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Stryker Corporation to earn $7.13 per share next year, which means the company should continue to be able to cover its $1.70 annual dividend with an expected future payout ratio of 23.8%.
Stryker Corporation (NYSE:SYK) traded up 0.05% during mid-day trading on Friday, reaching $146.44. The company’s stock had a trading volume of 269,528 shares. The firm has a market cap of $54.78 billion, a PE ratio of 32.69 and a beta of 0.80. Stryker Corporation has a one year low of $106.48 and a one year high of $148.84. The stock’s 50 day moving average is $142.76 and its 200 day moving average is $134.44.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.02. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the company posted $1.39 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. On average, analysts anticipate that Stryker Corporation will post $6.50 EPS for the current year.
In other Stryker Corporation news, insider David Floyd sold 7,381 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $144.70, for a total value of $1,068,030.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.40% of the company’s stock.
SYK has been the topic of a number of analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a $148.00 price objective (up previously from $135.00) on shares of Stryker Corporation in a report on Saturday, April 29th. BidaskClub lowered Stryker Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Zacks Investment Research raised Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 price objective on the stock in a report on Monday, July 17th. Stifel Nicolaus lifted their price objective on Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $160.00 price objective (up previously from $150.00) on shares of Stryker Corporation in a report on Sunday, July 30th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $144.03.
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Stryker Corporation Company Profile
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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