Stryker Co. (NYSE:SYK) declared a quarterly dividend on Wednesday, February 6th, RTT News reports. Investors of record on Friday, March 29th will be paid a dividend of 0.52 per share by the medical technology company on Tuesday, April 30th. This represents a $2.08 dividend on an annualized basis and a yield of 1.17%.
Stryker has raised its dividend by an average of 10.9% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Stryker has a payout ratio of 28.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Stryker to earn $8.91 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 23.3%.
Shares of Stryker stock opened at $178.50 on Wednesday. Stryker has a one year low of $144.75 and a one year high of $181.18. The company has a market cap of $66.28 billion, a P/E ratio of 24.42, a P/E/G ratio of 2.18 and a beta of 0.86. The company has a current ratio of 1.91, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 29th. The medical technology company reported $2.18 EPS for the quarter, topping the Zacks’ consensus estimate of $2.15 by $0.03. Stryker had a return on equity of 29.21% and a net margin of 26.12%. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.73 billion. On average, research analysts predict that Stryker will post 8.11 earnings per share for the current year.
A number of brokerages recently commented on SYK. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $199.00 price objective on the stock in a research report on Monday. Cantor Fitzgerald restated a “neutral” rating on shares of Stryker in a research report on Friday, January 18th. Oppenheimer set a $170.00 target price on Stryker and gave the company a “hold” rating in a research report on Friday, November 9th. SunTrust Banks lifted their target price on Stryker to $205.00 and gave the company a “positive” rating in a research report on Monday. Finally, Canaccord Genuity lifted their target price on Stryker from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, January 30th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $185.37.
In other news, insider Timothy J. Scannell sold 9,332 shares of Stryker stock in a transaction on Tuesday, December 18th. The stock was sold at an average price of $161.60, for a total value of $1,508,051.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 180 shares of Stryker stock in a transaction on Monday, February 4th. The shares were sold at an average price of $176.77, for a total value of $31,818.60. The disclosure for this sale can be found here. Insiders sold 17,155 shares of company stock valued at $2,807,774 over the last ninety days. Insiders own 7.30% of the company’s stock.
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Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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