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

Stryker Co. (NYSE:SYK) declared a quarterly dividend on Wednesday, February 5th, RTT News reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.84 per share by the medical technology company on Wednesday, April 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Monday, March 31st.

Stryker has increased its dividend by an average of 7.8% annually over the last three years and has increased its dividend every year for the last 32 years. Stryker has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Stryker to earn $14.83 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 22.7%.

Stryker Stock Down 0.9 %

SYK opened at $364.38 on Friday. Stryker has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The stock has a market cap of $139.08 billion, a price-to-earnings ratio of 46.96, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The firm’s fifty day moving average is $384.08 and its 200 day moving average is $374.25.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the prior year, the business earned $3.46 EPS. On average, sell-side analysts forecast that Stryker will post 13.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on SYK. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price target on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Argus set a $450.00 price objective on shares of Stryker in a report on Monday, February 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 target price on shares of Stryker in a report on Friday, March 21st. Finally, Canaccord Genuity Group increased their price target on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $421.90.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Stryker

An institutional investor recently raised its position in Stryker stock. Brighton Jones LLC increased its position in Stryker Co. (NYSE:SYK) by 15.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,564 shares of the medical technology company’s stock after acquiring an additional 609 shares during the period. Brighton Jones LLC’s holdings in Stryker were worth $1,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 77.09% of the company’s stock.

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.