Stryker Co. (NYSE:SYK) Plans $0.84 Quarterly Dividend

Stryker Co. (NYSE:SYK) declared a quarterly dividend on Wednesday, February 5th,RTT News reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.84 per share by the medical technology company on Wednesday, April 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Monday, March 31st.

Stryker has raised its dividend by an average of 7.8% annually over the last three years and has raised its dividend every year for the last 15 years. Stryker has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Stryker to earn $14.92 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 22.5%.

Stryker Price Performance

Shares of SYK opened at $396.24 on Friday. Stryker has a 12-month low of $314.93 and a 12-month high of $406.19. The business’s fifty day moving average is $377.08 and its 200 day moving average is $364.24. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The stock has a market cap of $151.06 billion, a P/E ratio of 51.06, a P/E/G ratio of 2.78 and a beta of 0.96.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the firm posted $3.46 earnings per share. Sell-side analysts anticipate that Stryker will post 13.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 price target on shares of Stryker in a research note on Wednesday, January 29th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Finally, Truist Financial lifted their price target on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $419.37.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 5.50% of the company’s stock.

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.