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

Stryker Co. (NYSE:SYK) announced a quarterly dividend on Wednesday, February 5th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.84 per share by the medical technology company on Wednesday, April 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Monday, March 31st.

Stryker has raised its dividend by an average of 7.8% 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 22.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.9 %

NYSE SYK opened at $364.38 on Friday. Stryker has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The company has a market capitalization of $139.08 billion, a PE ratio of 46.96, a P/E/G ratio of 2.93 and a beta of 0.95. The company has a fifty day moving average of $384.08 and a 200 day moving average of $374.25.

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 return on equity of 23.58% and a net margin of 13.25%. During the same period in the previous year, the firm posted $3.46 earnings per share. Research analysts forecast that Stryker will post 13.47 earnings per share for the current year.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Stryker

A hedge fund recently raised its stake in Stryker stock. Brighton Jones LLC grew its position in Stryker Co. (NYSE:SYK) by 15.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,564 shares of the medical technology company’s stock after buying 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. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYK has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research report on Friday, March 21st. Citigroup restated a “buy” rating and set a $450.00 target price on shares of Stryker in a research report on Wednesday, February 26th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, Barclays raised their price objective on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $421.90.

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.