Stryker Co. (NYSE:SYK) declared a quarterly dividend on Wednesday, September 19th, Wall Street Journal reports. Investors of record on Friday, September 28th will be given a dividend of 0.47 per share by the medical technology company on Wednesday, October 31st. This represents a $1.88 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, September 27th.

Stryker has increased its dividend by an average of 11.7% per year over the last three years and has raised its dividend every year for the last 7 years. Stryker has a payout ratio of 25.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Stryker to earn $7.97 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 23.6%.

NYSE:SYK traded down $0.04 during mid-day trading on Wednesday, hitting $175.73. The company’s stock had a trading volume of 15,218 shares, compared to its average volume of 1,278,231. Stryker has a fifty-two week low of $139.51 and a fifty-two week high of $179.84. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $65.85 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.47 and a beta of 0.59.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 24th. The medical technology company reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.03. Stryker had a net margin of 8.28% and a return on equity of 26.93%. The firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the prior year, the business posted $1.53 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. research analysts expect that Stryker will post 7.25 EPS for the current year.

Several analysts have weighed in on the stock. Zacks Investment Research raised shares of Stryker from a “hold” rating to a “buy” rating and set a $196.00 price objective on the stock in a research note on Friday, June 1st. BMO Capital Markets reaffirmed a “hold” rating and set a $174.00 price objective on shares of Stryker in a research note on Thursday, July 12th. JPMorgan Chase & Co. upped their price objective on shares of Stryker to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, September 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a research note on Wednesday, July 25th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $185.00 price objective on shares of Stryker in a research note on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $178.33.

In other news, VP Katherine Ann Owen sold 37,866 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $166.84, for a total transaction of $6,317,563.44. Following the sale, the vice president now directly owns 11,367 shares of the company’s stock, valued at $1,896,470.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.30% of the stock is owned by corporate insiders.

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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Dividend History for Stryker (NYSE:SYK)

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