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

Stryker Co. (NYSE:SYK) declared a quarterly dividend on Thursday, May 9th, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.80 per share by the medical technology company on Wednesday, July 31st. This represents a $3.20 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, June 28th.

Stryker has increased its dividend by an average of 9.0% per year over the last three years and has increased its dividend every year for the last 31 years. Stryker has a payout ratio of 23.9% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NYSE:SYK traded up $1.27 during trading hours on Friday, hitting $332.13. 46,695 shares of the company’s stock traded hands, compared to its average volume of 1,313,168. The business’s fifty day simple moving average is $345.60 and its two-hundred day simple moving average is $318.91. Stryker has a 52 week low of $249.98 and a 52 week high of $361.41. The firm has a market cap of $126.52 billion, a P/E ratio of 37.77, a P/E/G ratio of 2.54 and a beta of 0.91. 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 (NYSE:SYK) last announced its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $5.10 billion. During the same quarter in the previous year, the business earned $2.14 EPS. Stryker’s revenue was up 9.7% compared to the same quarter last year. On average, research analysts anticipate that Stryker will post 11.94 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SYK shares. TD Cowen lifted their target price on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and upped their target price for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Citigroup upped their price objective on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Stifel Nicolaus upped their price target on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $365.94.

About Stryker

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.