Oak Harvest Investment Services Has $2.61 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Oak Harvest Investment Services lowered its holdings in shares of Stryker Co. (NYSE:SYK) by 24.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,246 shares of the medical technology company’s stock after selling 2,364 shares during the period. Oak Harvest Investment Services’ holdings in Stryker were worth $2,609,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dunhill Financial LLC lifted its holdings 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 acquiring an additional 37 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Stryker during the 3rd quarter worth approximately $36,000. Crews Bank & Trust acquired a new position in Stryker during the 4th quarter worth approximately $39,000. Hara Capital LLC bought a new position in Stryker in the 3rd quarter valued at approximately $42,000. Finally, HBW Advisory Services LLC acquired a new stake in Stryker in the third quarter valued at approximately $42,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Trading Down 0.2 %

Shares of SYK stock opened at $390.48 on Friday. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $376.55 and a 200-day moving average of $362.18. The firm has a market cap of $148.86 billion, a P/E ratio of 50.32, a PEG ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.86% and a net margin of 13.25%. During the same quarter in the previous year, the firm posted $3.46 EPS. Sell-side analysts anticipate that Stryker Co. will post 13.53 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 given a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is currently 43.30%.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Stifel Nicolaus boosted their price target on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday. BTIG Research raised their price objective on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird boosted their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price target on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $416.40.

Stryker Company 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.