Stryker Co. (NYSE:SYK) Raises Dividend to $0.84 Per Share

Stryker Co. (NYSE:SYK) declared a quarterly dividend on Tuesday, December 10th,RTT News reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.84 per share by the medical technology company on Friday, January 31st. This represents a $3.36 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80.

Stryker has increased its dividend payment by an average of 9.0% per year over the last three years and has increased its dividend every year for the last 32 years. Stryker has a payout ratio of 24.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Stryker to earn $13.54 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 24.8%.

Stryker Trading Down 0.6 %

NYSE:SYK opened at $367.11 on Friday. The stock has a market cap of $139.95 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 2.82 and a beta of 0.94. Stryker has a fifty-two week low of $292.43 and a fifty-two week high of $398.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The stock’s 50-day moving average is $375.37 and its two-hundred day moving average is $356.61.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts forecast that Stryker will post 12.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SYK. BTIG Research lifted their price objective on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and issued a $425.00 price objective (up previously from $400.00) on shares of Stryker in a report on Wednesday, December 11th. Robert W. Baird lifted their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $405.80.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.90% 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.