Oak Asset Management LLC Has $6.56 Million Holdings in Stryker Co. (NYSE:SYK)

Oak Asset Management LLC lessened its position in shares of Stryker Co. (NYSE:SYK) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,214 shares of the medical technology company’s stock after selling 276 shares during the period. Stryker makes up about 2.4% of Oak Asset Management LLC’s holdings, making the stock its 9th biggest position. Oak Asset Management LLC’s holdings in Stryker were worth $6,558,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Dunhill Financial LLC increased its position in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the last quarter. Centennial Bank AR raised its position in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Stryker during the 3rd quarter worth $36,000. HBW Advisory Services LLC purchased a new position in Stryker in the third quarter worth $42,000. Finally, Hara Capital LLC bought a new position in Stryker in the third quarter valued at $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research reports. Robert W. Baird upped their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. UBS Group upped their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Canaccord Genuity Group upped their price objective on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $405.80.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $360.96 on Tuesday. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20. The stock has a market cap of $137.60 billion, a price-to-earnings ratio of 38.69, a PEG ratio of 2.82 and a beta of 0.95. The stock’s 50 day simple moving average is $375.28 and its two-hundred day simple moving average is $358.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.46 earnings per share. As a group, analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a yield of 0.93%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is presently 36.01%.

Stryker 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.