Oak Ridge Investments LLC Raises Position in Stryker Co. (NYSE:SYK)

Oak Ridge Investments LLC lifted its stake in shares of Stryker Co. (NYSE:SYK) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,186 shares of the medical technology company’s stock after acquiring an additional 1,731 shares during the quarter. Stryker accounts for about 0.8% of Oak Ridge Investments LLC’s portfolio, making the stock its 26th largest position. Oak Ridge Investments LLC’s holdings in Stryker were worth $10,508,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on 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 of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 5.50% of the company’s stock.

Stryker Trading Up 0.6 %

NYSE SYK opened at $383.91 on Friday. 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 stock has a market capitalization of $146.35 billion, a P/E ratio of 41.15, a P/E/G ratio of 2.51 and a beta of 0.95. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20. The firm has a 50-day moving average price of $375.51 and a 200 day moving average price of $358.81.

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

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s dividend payout ratio is 36.01%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SYK shares. JPMorgan Chase & Co. upped their target price on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Robert W. Baird raised 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. Canaccord Genuity Group boosted their target price on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Truist Financial raised their price target on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $405.80.

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.