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

Stryker Co. (NYSE:SYK) declared a quarterly dividend on Thursday, May 9th, Zacks reports. Stockholders 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 dividend yield of 0.97%. The ex-dividend date is Friday, June 28th.

Stryker has increased its dividend by an average of 9.0% annually 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. 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 Stock Up 0.5 %

Shares of Stryker stock opened at $330.86 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. Stryker has a 52-week low of $249.98 and a 52-week high of $361.41. The stock has a market capitalization of $126.04 billion, a price-to-earnings ratio of 37.77, a P/E/G ratio of 2.54 and a beta of 0.91. The company’s 50 day moving average price is $345.60 and its 200-day moving average price is $318.91.

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

Analyst Upgrades and Downgrades

SYK has been the subject of a number of recent research reports. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target for the company in a research note on Wednesday, January 31st. Stifel Nicolaus upped their target price on shares of Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Evercore ISI boosted their price objective on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Barclays increased their target price on shares of Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average target price of $365.94.

Insider Transactions at Stryker

In other 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 transaction of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.