Stryker Co. (NYSE:SYK) is Oak Asset Management LLC’s 9th Largest Position

Oak Asset Management LLC lessened its stake in shares of Stryker Co. (NYSE:SYK) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,214 shares of the medical technology company’s stock after selling 276 shares during the quarter. Stryker comprises about 2.4% of Oak Asset Management LLC’s investment portfolio, making the stock its 9th biggest holding. Oak Asset Management LLC’s holdings in Stryker were worth $6,558,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Parnassus Investments LLC bought a new stake in shares of Stryker in the third quarter worth $762,798,000. Baltimore Washington Financial Advisors Inc. boosted its position in Stryker by 2.4% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock worth $24,089,000 after purchasing an additional 1,554 shares during the last quarter. Sivik Global Healthcare LLC grew its stake in shares of Stryker by 8.0% during the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after purchasing an additional 2,000 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Stryker by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock valued at $210,289,000 after purchasing an additional 16,504 shares during the last quarter. Finally, World Investment Advisors LLC increased its position in shares of Stryker by 126.1% during the 3rd quarter. World Investment Advisors LLC now owns 8,142 shares of the medical technology company’s stock valued at $2,941,000 after purchasing an additional 4,541 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

NYSE SYK opened at $360.96 on Tuesday. The company has a market cap of $137.60 billion, a P/E ratio of 38.69, a P/E/G ratio of 2.82 and a beta of 0.95. The business’s 50 day moving average price is $375.28 and its 200-day moving average price is $358.09. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20. 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 earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the business earned $2.46 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Sell-side analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.84 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio is currently 36.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SYK shares. Piper Sandler reissued an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. BTIG Research lifted their price target on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Evercore ISI raised their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $425.00 target price on shares of Stryker in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value 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 $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 5.90% of the company’s stock.

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.