Stryker Co. (SYK) To Go Ex-Dividend on December 31st

Stryker Co. (NYSE:SYK) announced a quarterly dividend on Tuesday, December 10th,RTT News reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.84 per share by the medical technology company on Friday, January 31st. This represents a $3.36 annualized dividend and a yield of 0.92%. The ex-dividend date is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80.

Stryker has increased its dividend payment by an average of 9.0% per year over the last three years and has increased its dividend every year for the last 32 years. Stryker has a dividend payout ratio of 24.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Stryker to earn $13.54 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 24.8%.

Stryker Stock Down 0.6 %

Shares of Stryker stock opened at $367.11 on Friday. The stock has a market capitalization of $139.95 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 2.82 and a beta of 0.94. Stryker has a twelve month low of $292.43 and a twelve month high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The business’s 50 day simple moving average is $375.37 and its 200-day simple moving average is $356.61.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $2.46 earnings per share. Equities research analysts forecast that Stryker will post 12.06 earnings per share for the current year.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Robert W. Baird raised their price target on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $425.00 target price (up previously from $400.00) on shares of Stryker in a research note on Wednesday, December 11th. Piper Sandler reissued an “overweight” rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Citigroup lifted their price objective on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Needham & Company LLC increased their target price on shares of Stryker from $409.00 to $442.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Company Profile

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 total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.