Stryker Co. Plans Quarterly Dividend of $0.70 (NYSE:SYK)

Stryker Co. (NYSE:SYKGet Rating) announced a quarterly dividend on Wednesday, May 4th, RTT News reports. Shareholders of record on Thursday, June 30th will be given a dividend of 0.695 per share by the medical technology company on Friday, July 29th. This represents a $2.78 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Wednesday, June 29th.

Stryker has increased its dividend by an average of 10.2% per year over the last three years and has increased its dividend every year for the last 29 years. Stryker has a dividend payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Stryker to earn $10.78 per share next year, which means the company should continue to be able to cover its $2.78 annual dividend with an expected future payout ratio of 25.8%.

SYK opened at $245.97 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.18 and a current ratio of 1.98. Stryker has a one year low of $230.16 and a one year high of $281.16. The company has a market cap of $93.01 billion, a P/E ratio of 46.76, a PEG ratio of 2.69 and a beta of 0.99. The business’s 50-day simple moving average is $260.23 and its 200-day simple moving average is $260.22.

Stryker (NYSE:SYKGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The medical technology company reported $1.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.95 by $0.02. Stryker had a return on equity of 24.09% and a net margin of 11.56%. The firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the prior year, the company posted $1.93 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, analysts predict that Stryker will post 9.64 earnings per share for the current fiscal year.

A number of equities research analysts recently weighed in on the stock. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Monday. Piper Sandler reduced their target price on Stryker from $315.00 to $290.00 in a report on Friday, April 29th. Bank of America assumed coverage on Stryker in a research note on Tuesday, March 1st. They set a “buy” rating on the stock. BTIG Research boosted their price objective on Stryker from $273.00 to $278.00 in a research note on Monday, April 18th. Finally, Evercore ISI restated an “outperform” rating and set a $284.00 target price on shares of Stryker in a research report on Tuesday, March 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $291.44.

Hedge funds have recently modified their holdings of the company. Barclays PLC boosted its stake in shares of Stryker by 86.5% in the fourth quarter. Barclays PLC now owns 1,269,778 shares of the medical technology company’s stock valued at $339,562,000 after buying an additional 588,854 shares in the last quarter. Sei Investments Co. grew its stake in shares of Stryker by 42.4% during the 4th quarter. Sei Investments Co. now owns 69,188 shares of the medical technology company’s stock worth $18,579,000 after purchasing an additional 20,585 shares during the period. Marshall Wace LLP purchased a new position in shares of Stryker in the 4th quarter valued at about $2,943,000. Madison Asset Management LLC lifted its stake in shares of Stryker by 89.1% in the fourth quarter. Madison Asset Management LLC now owns 21,651 shares of the medical technology company’s stock valued at $5,790,000 after purchasing an additional 10,200 shares during the period. Finally, Weiss Multi Strategy Advisers LLC purchased a new stake in Stryker during the fourth quarter worth about $1,877,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Stryker Company Profile (Get Rating)

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

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Dividend History for Stryker (NYSE:SYK)

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