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

Stryker Co. (NYSE:SYK) declared a quarterly dividend on Wednesday, February 5th,RTT News reports. Stockholders of record on Monday, March 31st will be paid 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 increased its dividend by an average of 7.8% annually 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% meaning its dividend is sufficiently covered by earnings. 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 Performance

Shares of SYK stock opened at $399.01 on Thursday. The firm has a market cap of $152.11 billion, a price-to-earnings ratio of 51.42, a PEG ratio of 2.78 and a beta of 0.96. The company’s 50 day moving average is $376.87 and its 200 day moving average is $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 issued 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 last year, the business earned $3.46 EPS. On average, sell-side analysts anticipate that Stryker will post 13.5 EPS for the current fiscal year.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SYK. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Barclays lifted their price target on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Morgan Stanley raised shares of 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 report on Monday, December 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 price target on shares of Stryker in a report on Wednesday, January 29th. Finally, Stifel Nicolaus lifted their price target on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $419.37.

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.