Stryker Corporation (NYSE:SYK) Declares Quarterly Dividend of $0.84

Key Points

• Stryker Corporation has declared a quarterly dividend of $0.84 per share, with payment scheduled for October 31st to stockholders on record by September 30th.
• The company reported earnings of $3.13 per share for the last quarter, exceeding analysts' expectations, with revenue climbing 11.1% year-over-year to $6.02 billion.
• Stryker's current dividend payout ratio stands at 22.6%, indicating a strong ability to sustain its dividend payments based on earnings.

Stryker Corporation (NYSE:SYK - Get Free Report) declared a quarterly dividend on Thursday, August 7th, RTT News reports. Shareholders of record on Tuesday, September 30th will be given a dividend of 0.84 per share by the medical technology company on Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th.

Stryker has a dividend payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Stryker to earn $14.83 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 22.7%.

Stryker Stock Performance

NYSE:SYK traded up $1.36 during trading hours on Friday, reaching $377.73. 972,332 shares of the stock were exchanged, compared to its average volume of 1,333,167. The stock has a market capitalization of $144.41 billion, a P/E ratio of 50.03, a P/E/G ratio of 2.74 and a beta of 0.91. Stryker has a 52 week low of $322.03 and a 52 week high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm has a 50 day simple moving average of $387.17 and a 200-day simple moving average of $380.15.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.06. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The business's revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $2.81 EPS. As a group, sell-side analysts forecast that Stryker will post 13.47 earnings per share for the current fiscal year.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.90% of the company's stock.

Institutional Trading of Stryker

Hedge funds and other institutional investors have recently modified their holdings of the company. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Stryker in the 2nd quarter worth $26,000. Capital A Wealth Management LLC bought a new stake in shares of Stryker in the 4th quarter worth $26,000. Sachetta LLC raised its stake in shares of Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock worth $29,000 after buying an additional 27 shares in the last quarter. Goodman Advisory Group LLC bought a new stake in shares of Stryker in the 1st quarter worth $32,000. Finally, City Holding Co. raised its stake in shares of Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after buying an additional 74 shares in the last quarter. Institutional investors own 77.09% 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.