Oak Asset Management LLC Has $5.66 Million Stake in Stryker Co. (NYSE:SYK)

Oak Asset Management LLC lowered its position in shares of Stryker Co. (NYSE:SYK) by 1.6% in the fourth quarter, HoldingsChannel reports. The fund owned 18,896 shares of the medical technology company’s stock after selling 305 shares during the period. Stryker accounts for approximately 2.3% of Oak Asset Management LLC’s investment portfolio, making the stock its 10th largest holding. Oak Asset Management LLC’s holdings in Stryker were worth $5,659,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Stryker during the first quarter worth $27,000. Freedom Wealth Alliance LLC bought a new stake in Stryker in the fourth quarter valued at about $26,000. Rise Advisors LLC grew its stake in Stryker by 692.9% in the third quarter. Rise Advisors LLC now owns 111 shares of the medical technology company’s stock valued at $30,000 after acquiring an additional 97 shares during the period. West Tower Group LLC acquired a new position in Stryker in the second quarter valued at about $35,000. Finally, Cornerstone Planning Group LLC acquired a new position in Stryker in the second quarter valued at about $38,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of NYSE SYK traded up $1.28 during trading hours on Thursday, reaching $352.28. 46,677 shares of the stock were exchanged, compared to its average volume of 1,284,494. The firm has a market capitalization of $134.03 billion, a price-to-earnings ratio of 42.59, a P/E/G ratio of 2.85 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The stock’s fifty day simple moving average is $347.58 and its 200 day simple moving average is $307.64.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.00 earnings per share. Sell-side analysts predict that Stryker Co. will post 11.86 EPS for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Wednesday, March 27th. Stryker’s dividend payout ratio is currently 38.79%.

Insider Buying and Selling

In related news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock valued at $72,845,768 over the last 90 days. 5.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SYK shares. Truist Financial boosted their target price on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $360.00 price objective on shares of Stryker in a research report on Thursday, February 15th. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and increased their price target for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Finally, Citigroup increased their price target on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average target price of $333.62.

About Stryker

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.