Stryker Corporation (NYSE:SYK) Declares Dividend Increase – $0.88 Per Share

Stryker Corporation (NYSE:SYK) announced a quarterly dividend on Thursday, December 11th. Shareholders of record on Wednesday, December 31st will be paid a dividend of 0.88 per share by the medical technology company on Friday, January 30th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a 4.8% increase from Stryker’s previous quarterly dividend of $0.84.

Stryker has raised its dividend by an average of 0.1%annually over the last three years and has raised 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 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 Price Performance

Shares of NYSE SYK traded down $0.96 during midday trading on Thursday, reaching $352.84. 1,552,483 shares of the company were exchanged, compared to its average volume of 1,454,638. The stock’s 50-day moving average price is $367.42 and its 200-day moving average price is $378.84. The stock has a market cap of $134.93 billion, a P/E ratio of 46.37, a PEG ratio of 2.47 and a beta of 0.89. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68. Stryker has a one year low of $329.16 and a one year high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, October 30th. The medical technology company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter last year, the business posted $2.87 EPS. Stryker’s revenue for the quarter was up 10.2% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. On average, sell-side analysts anticipate that Stryker will post 13.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 276,173 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total value of $97,566,397.44. Following the completion of the sale, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the transaction, the chief accounting officer owned 2,833 shares in the company, valued at $1,035,433.17. This represents a 40.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 522,118 shares of company stock worth $185,381,932. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after acquiring an additional 609 shares in the last quarter. Financial Engines Advisors L.L.C. grew its position in Stryker by 26.1% in the 1st quarter. Financial Engines Advisors L.L.C. now owns 865 shares of the medical technology company’s stock valued at $322,000 after purchasing an additional 179 shares during the period. Rathbones Group PLC increased its stake in Stryker by 4.3% during the 1st quarter. Rathbones Group PLC now owns 29,028 shares of the medical technology company’s stock valued at $10,806,000 after purchasing an additional 1,191 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Stryker by 11.0% during the first quarter. Russell Investments Group Ltd. now owns 225,727 shares of the medical technology company’s stock worth $83,906,000 after buying an additional 22,416 shares during the last quarter. Finally, LGT Group Foundation lifted its stake in shares of Stryker by 7.2% in the first quarter. LGT Group Foundation now owns 15,017 shares of the medical technology company’s stock valued at $5,590,000 after buying an additional 1,006 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

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.