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

Stryker Co. (NYSE:SYK) announced a quarterly dividend on Wednesday, February 5th,RTT News reports. Stockholders 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 0.84%.

Stryker has raised its dividend by an average of 7.8% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Stryker has a dividend payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Up 1.7 %

SYK stock opened at $399.01 on Thursday. The stock has a market capitalization of $152.11 billion, a P/E ratio of 51.42, a P/E/G ratio of 2.78 and a beta of 0.96. The firm has a 50-day simple moving average of $376.87 and a 200-day simple moving average of $364.00. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. Stryker has a 52 week low of $314.93 and a 52 week high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings data 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 net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the previous year, the firm posted $3.46 earnings per share. Equities analysts forecast that Stryker will post 13.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SYK. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Truist Financial boosted their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a report on Thursday, January 30th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Finally, Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $419.37.

Insiders Place Their Bets

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

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.