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

Stryker Co. (NYSE:SYK - Get Free Report) declared a quarterly dividend on Thursday, May 9th, Zacks reports. Stockholders of record on Friday, June 28th will be given 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 of this dividend is Friday, June 28th.

Stryker has raised its dividend payment by an average of 9.0% annually over the last three years and has increased its dividend every year for the last 31 years. Stryker has a dividend payout ratio of 23.9% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 0.1 %

Shares of SYK stock traded down $0.21 during mid-day trading on Friday, hitting $330.65. The company's stock had a trading volume of 1,307,925 shares, compared to its average volume of 1,327,286. The company's fifty day simple moving average is $345.24 and its 200-day simple moving average is $318.99. Stryker has a 52 week low of $249.98 and a 52 week high of $361.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. The company has a market cap of $125.96 billion, a PE ratio of 37.78, a P/E/G ratio of 2.54 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same period last year, the company posted $2.14 EPS. The business's quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts expect that Stryker will post 11.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Truist Financial boosted their target price on Stryker from $330.00 to $345.00 and gave the company a "hold" rating in a research report on Wednesday, January 31st. Piper Sandler lifted their price target on Stryker from $375.00 to $380.00 and gave the company an "overweight" rating in a research note on Wednesday, May 1st. 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. Robert W. Baird lifted their price target on Stryker from $367.00 to $378.00 and gave the company an "outperform" rating in a research note on Wednesday, May 1st. Finally, Roth Mkm boosted their target price on Stryker from $348.00 to $405.00 and gave the stock a "buy" rating in a research note on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $365.94.

Insider Transactions at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.50% of the stock is currently owned by company insiders.

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.