Stryker Co. (NYSE:SYK – Get Free Report) declared a quarterly dividend on Thursday, May 9th, Zacks reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.80 per share by the medical technology company on Wednesday, July 31st. This represents a $3.20 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, June 28th.
Stryker has increased its dividend payment by an average of 9.0% annually over the last three years and has raised its dividend every year for the last 31 years. Stryker has a dividend payout ratio of 23.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Stryker to earn $13.38 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 23.9%.
Stryker Stock Performance
SYK opened at $340.79 on Thursday. The business’s 50-day moving average price is $336.73 and its two-hundred day moving average price is $332.95. Stryker has a 1 year low of $249.98 and a 1 year high of $361.41. The company has a market capitalization of $129.82 billion, a price-to-earnings ratio of 38.90, a P/E/G ratio of 2.67 and a beta of 0.92. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on SYK shares. Roth Mkm lifted their price target on Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Piper Sandler lifted their price target on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Wells Fargo & Company lifted their price target on Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. The Goldman Sachs Group began coverage on Stryker in a report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price target for the company. Finally, Evercore ISI boosted their price objective on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $370.58.
Get Our Latest Stock Report on SYK
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.
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