Stryker Corporation (NYSE:SYK) declared a quarterly dividend on Wednesday, February 7th, Zacks reports. Investors of record on Thursday, March 29th will be given a dividend of 0.47 per share by the medical technology company on Monday, April 30th. This represents a $1.88 annualized dividend and a yield of 1.24%. The ex-dividend date is Wednesday, March 28th.
Stryker has increased its dividend payment by an average of 11.7% per year over the last three years and has increased its dividend every year for the last 7 years. Stryker has a payout ratio of 29.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Stryker to earn $7.82 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 24.0%.
Stryker (SYK) traded down $2.15 during mid-day trading on Thursday, reaching $151.52. 333,291 shares of the company traded hands, compared to its average volume of 1,430,671. The firm has a market capitalization of $56,800.00, a price-to-earnings ratio of 56.63, a price-to-earnings-growth ratio of 2.22 and a beta of 0.70. The company has a current ratio of 2.29, a quick ratio of 1.59 and a debt-to-equity ratio of 0.66. Stryker has a 1-year low of $122.28 and a 1-year high of $170.00.
Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Stryker from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 2nd. Robert W. Baird upgraded shares of Stryker from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $161.00 to $173.00 in a report on Thursday, November 16th. BMO Capital Markets upgraded shares of Stryker to a “market perform” rating and set a $163.00 price objective on the stock in a report on Tuesday, December 12th. Zacks Investment Research lowered shares of Stryker from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $163.00 price objective on shares of Stryker in a report on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $162.50.
In other news, insider Graham A. Mclean sold 2,984 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $160.53, for a total transaction of $479,021.52. Following the completion of the sale, the insider now directly owns 9,100 shares of the company’s stock, valued at $1,460,823. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Howard E. Cox, Jr. sold 7,400 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $164.09, for a total transaction of $1,214,266.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,840 shares of company stock valued at $2,749,989. 7.40% of the stock is currently owned by insiders.
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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