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

Stryker Co. (NYSE:SYK) announced a quarterly dividend on Thursday, May 9th, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.80 per share by the medical technology company on Wednesday, July 31st. This represents a $3.20 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, June 28th.

Stryker has increased its dividend by an average of 9.0% per year over the last three years and has increased its dividend annually for the last 31 consecutive years. Stryker has a payout ratio of 23.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Stryker to earn $13.38 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 23.9%.

Stryker Stock Up 0.4 %

Stryker stock opened at $340.79 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. The firm has a market capitalization of $129.82 billion, a price-to-earnings ratio of 38.90, a price-to-earnings-growth ratio of 2.67 and a beta of 0.92. Stryker has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The stock’s fifty day moving average is $336.73 and its two-hundred day moving average is $332.95.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the prior year, the business earned $2.14 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. Analysts predict that Stryker will post 11.95 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Roth Mkm increased their target price on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group initiated coverage on Stryker in a research report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 target price for the company. Royal Bank of Canada lifted their target price on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. BTIG Research lifted their target price on Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Stifel Nicolaus lifted their target price on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average price target of $370.58.

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.