Stryker Corporation (NYSE: SYK) is recognized among the 15 Blue Chip Dividend Stocks to Build a Passive Income Portfolio. Truist analyst Richard Newitter raised the price target on SYK to $400 from $392, emphasizing the company’s strong performance and steady operating leverage at its Investor Day, maintaining a Hold rating.

In its third-quarter earnings report, Stryker Corporation (NYSE: SYK) showcased impressive revenue growth of over 10%, reaching $6.1 billion. The company’s organic sales rose by 9.5%, with management expressing commitment to margin expansion and projecting organic net sales growth between 9.8% to 10.2%.

Aside from robust earnings, Stryker Corporation (NYSE: SYK) boasts a 32-year dividend growth streak, appealing to income investors with a payout ratio around 43%, indicating potential for future dividend growth. The company is a leading medical technology provider offering a wide range of products and services.

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Read more at Yahoo Finance: Stryker (SYK) Shows ‘Muscle’ at Investor Day, but Truist Stays Neutral