Stryker Corporation (NYSE:SYK) to Issue $0.88 Quarterly Dividend

Stryker Corporation (NYSE:SYK) announced a quarterly dividend on Wednesday, February 4th. Stockholders of record on Tuesday, March 31st will be given a dividend of 0.88 per share by the medical technology company on Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, March 31st.

Stryker has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 32 years. Stryker has a dividend payout ratio of 23.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Stryker to earn $14.83 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 23.7%.

Stryker Trading Down 0.2%

Stryker stock traded down $0.63 during midday trading on Wednesday, reaching $360.19. The stock had a trading volume of 3,836,687 shares, compared to its average volume of 2,066,513. Stryker has a twelve month low of $329.16 and a twelve month high of $404.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. The firm has a market cap of $137.74 billion, a price-to-earnings ratio of 42.88, a PEG ratio of 2.33 and a beta of 0.87. The firm’s fifty day simple moving average is $359.07 and its two-hundred day simple moving average is $371.19.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.40 by $0.07. The company had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $4.01 EPS. Equities analysts anticipate that Stryker will post 13.47 EPS for the current fiscal year.

Insider Activity

In other Stryker news, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the transaction, the chief accounting officer directly owned 2,833 shares in the company, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the sale, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at $2,449,200.72. This represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 278,291 shares of company stock worth $98,340,570. 5.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Stryker during the second quarter worth approximately $1,882,173,000. Alliancebernstein L.P. lifted its stake in shares of Stryker by 307.6% in the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after buying an additional 4,223,366 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Stryker by 104.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after buying an additional 1,146,998 shares during the period. Strive Asset Management LLC acquired a new position in Stryker in the 3rd quarter valued at $227,389,000. Finally, Credit Agricole S A bought a new position in Stryker in the 3rd quarter worth $194,045,000. 77.09% of the stock is owned by institutional investors.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.