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

Stryker Co. (NYSE:SYK) declared a quarterly dividend on Thursday, May 8th, RTT News reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.84 per share by the medical technology company on Thursday, July 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%.

Stryker has raised its dividend payment by an average of 7.8% per year over the last three years and has raised its dividend annually for the last 32 consecutive years. Stryker has a dividend payout ratio of 22.6% meaning 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 Down 0.4 %

Shares of NYSE:SYK opened at $382.68 on Friday. The business has a fifty day moving average of $365.66 and a two-hundred day moving average of $374.20. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The stock has a market cap of $146.06 billion, a P/E ratio of 49.31, a PEG ratio of 2.93 and a beta of 0.93. 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 results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The business had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.68 billion. During the same quarter in the prior year, the company earned $2.50 earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis. On average, research analysts expect that Stryker will post 13.47 earnings per share for the current year.

Insider Activity at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director now directly owns 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. This represents a 5.53 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Stryker

An institutional investor recently raised its position in Stryker stock. Brighton Jones LLC lifted its holdings in Stryker Co. (NYSE:SYK) by 15.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,564 shares of the medical technology company’s stock after acquiring an additional 609 shares during the period. Brighton Jones LLC’s holdings in Stryker were worth $1,643,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of analyst reports. Wells Fargo & Company boosted their target price on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research note on Tuesday, March 4th. JMP Securities reissued a “market perform” rating on shares of Stryker in a research report on Monday. Evercore ISI decreased their target price on Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Finally, Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research report on Monday. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $427.05.

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.