Stryker Corporation Plans Quarterly Dividend of $0.88 (NYSE:SYK)

Stryker Corporation (NYSE:SYK) announced a quarterly dividend on Wednesday, February 4th. Stockholders of record on Tuesday, March 31st will be given a dividend of 0.88 per share by the medical technology company on Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st.

Stryker has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 32 consecutive years. Stryker has a payout ratio of 23.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Stryker to earn $14.83 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 23.7%.

Stryker Stock Down 0.2%

Shares of Stryker stock opened at $360.19 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. Stryker has a 52-week low of $329.16 and a 52-week high of $404.87. The company’s 50 day moving average price is $358.84 and its 200-day moving average price is $371.11. The stock has a market capitalization of $137.74 billion, a price-to-earnings ratio of 42.88, a P/E/G ratio of 2.11 and a beta of 0.87.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the prior year, the company posted $4.01 EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts forecast that Stryker will post 13.47 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on SYK shares. Sanford C. Bernstein raised their target price on Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research note on Friday, January 9th. Raymond James Financial upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective on the stock in a research report on Tuesday, January 6th. Citigroup reissued a “market outperform” rating on shares of Stryker in a research note on Friday, January 30th. TD Cowen downgraded Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price for the company. in a report on Monday, January 26th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average price target of $426.56.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.