Stryker (SYK) Declares $0.75 Dividend

Stryker said on February 9, 2023 that its board of directors declared a regular quarterly dividend of $0.75 per share ($3.00 annualized). Shareholders of record as of March 30, 2023 will receive the payment on April 28, 2023. Previously, the company paid $0.75 per share.

At the current share price of $264.36 / share, the stock's dividend yield is 1.13%. Looking back five years and taking a sample every week, the average dividend yield has been 1.12%, the lowest has been 0.91%, and the highest has been 1.82%. The standard deviation of yields is 0.13 (n=237).

The current dividend yield is 0.15 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.48. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.30%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 7.91% Upside

As of February 10, 2023, the average one-year price target for Stryker is $285.28. The forecasts range from a low of $252.50 to a high of $306.60. The average price target represents an increase of 7.91% from its latest reported closing price of $264.36.

The projected annual revenue for Stryker is $19,394MM, an increase of 5.12%. The projected annual EPS is $9.98, an increase of 60.02%.

What is the Fund Sentiment?

There are 2430 funds or institutions reporting positions in Stryker. This is an increase of 22 owner(s) or 0.91% in the last quarter. Average portfolio weight of all funds dedicated to SYK is 0.52%, an increase of 6.70%. Total shares owned by institutions increased in the last three months by 3.25% to 334,891K shares. The put/call ratio of SYK is 0.84, indicating a bullish outlook.

What are large shareholders doing?

Price T Rowe Associates holds 20,129K shares representing 5.32% ownership of the company. In it's prior filing, the firm reported owning 19,905K shares, representing an increase of 1.11%. The firm increased its portfolio allocation in SYK by 33.99% over the last quarter.

Greenleaf Trust holds 19,635K shares representing 5.19% ownership of the company. In it's prior filing, the firm reported owning 19,807K shares, representing a decrease of 0.87%. The firm increased its portfolio allocation in SYK by 2.39% over the last quarter.

Wellington Management Group Llp holds 17,649K shares representing 4.66% ownership of the company. In it's prior filing, the firm reported owning 16,368K shares, representing an increase of 7.26%. The firm increased its portfolio allocation in SYK by 16.12% over the last quarter.

Capital Research Global Investors holds 12,633K shares representing 3.34% ownership of the company. In it's prior filing, the firm reported owning 10,754K shares, representing an increase of 14.88%. The firm increased its portfolio allocation in SYK by 26.16% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,155K shares representing 2.68% ownership of the company. In it's prior filing, the firm reported owning 10,023K shares, representing an increase of 1.30%. The firm increased its portfolio allocation in SYK by 7.53% over the last quarter.

Stryker Background Information
(This description is provided by the company.)

Stryker is one of the world's leading medical technology companies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes.

This story originally appeared on Fintel.