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

Stryker Co. (NYSE:SYK) announced a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.80 per share by the medical technology company on Thursday, October 31st. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th.

Stryker has raised its dividend by an average of 9.0% per year over the last three years and has raised its dividend annually for the last 31 consecutive years. Stryker has a payout ratio of 23.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Stryker to earn $13.45 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 23.8%.

Stryker Stock Down 0.3 %

Shares of Stryker stock opened at $360.27 on Friday. Stryker has a 12-month low of $249.98 and a 12-month high of $374.63. The stock has a market capitalization of $137.24 billion, a P/E ratio of 41.13, a PEG ratio of 2.79 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average price of $347.92 and a two-hundred day moving average price of $343.06.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business posted $2.54 EPS. Equities analysts expect that Stryker will post 12 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Truist Financial lowered their target price on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Needham & Company LLC boosted their target price on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barclays increased their price target on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. UBS Group boosted their price objective on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Evercore ISI reduced their target price on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Five research 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, Stryker has an average rating of “Moderate Buy” and a consensus price target of $378.58.

Insider Buying and Selling at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock worth $71,811,372 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

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.