Stryker Co. (NYSE:SYK) announced a quarterly dividend on Thursday, July 30th, RTT News reports. Investors of record on Wednesday, September 30th will be paid a dividend of 0.575 per share by the medical technology company on Friday, October 30th. This represents a $2.30 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Tuesday, September 29th.
Stryker has raised its dividend by an average of 36.4% per year over the last three years and has increased its dividend every year for the last 9 years. Stryker has a dividend payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Stryker to earn $8.78 per share next year, which means the company should continue to be able to cover its $2.30 annual dividend with an expected future payout ratio of 26.2%.
Shares of NYSE SYK opened at $193.30 on Friday. Stryker has a 1 year low of $124.54 and a 1 year high of $226.30. The firm’s 50 day moving average price is $186.61 and its 200 day moving average price is $189.31. The firm has a market cap of $75.04 billion, a P/E ratio of 29.10, a price-to-earnings-growth ratio of 3.48 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.58.
In related news, Director Srikant M. Datar sold 200 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $186.01, for a total transaction of $37,202.00. Following the completion of the sale, the director now directly owns 17,686 shares of the company’s stock, valued at approximately $3,289,772.86. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Katherine Ann Owen sold 3,121 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $190.81, for a total transaction of $595,518.01. Following the sale, the vice president now directly owns 4,481 shares of the company’s stock, valued at $855,019.61. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,670 shares of company stock valued at $5,775,251. Company insiders own 6.80% of the company’s stock.
A number of equities analysts have weighed in on the stock. Argus cut their price target on shares of Stryker from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Cfra cut their price target on shares of Stryker from $234.00 to $231.00 and set a “strong-buy” rating on the stock in a research note on Friday, May 1st. Citigroup increased their price target on shares of Stryker from $227.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday. Deutsche Bank cut their price target on shares of Stryker from $243.00 to $228.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Raymond James cut their price target on shares of Stryker from $240.00 to $205.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $216.25.
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.
Recommended Story: How do analysts define an oversold condition?
Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.