Stryker Co. (NYSE:SYK) Shares Sold by Oak Asset Management LLC

Oak Asset Management LLC lessened its holdings in Stryker Co. (NYSE:SYK) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,750 shares of the medical technology company’s stock after selling 146 shares during the period. Stryker comprises approximately 2.5% of Oak Asset Management LLC’s portfolio, making the stock its 9th biggest position. Oak Asset Management LLC’s holdings in Stryker were worth $6,710,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Stryker during the fourth quarter valued at $1,260,562,000. Global Assets Advisory LLC bought a new position in Stryker during the first quarter valued at about $341,049,000. Price T Rowe Associates Inc. MD raised its holdings in Stryker by 5.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after buying an additional 642,178 shares in the last quarter. Confluence Investment Management LLC bought a new position in Stryker during the first quarter valued at about $93,369,000. Finally, Morgan Stanley raised its holdings in Stryker by 4.4% during the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after buying an additional 223,728 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Down 0.1 %

Shares of SYK opened at $340.25 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The stock’s 50-day moving average price is $337.38 and its 200 day moving average price is $333.91. The firm has a market capitalization of $129.62 billion, a price-to-earnings ratio of 38.84, a P/E/G ratio of 2.68 and a beta of 0.89. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.14 earnings per share. As a group, research analysts predict that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Friday, June 28th. Stryker’s payout ratio is 36.53%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their target price on Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Roth Mkm lifted their price objective on Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Citigroup lifted their price objective on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Stifel Nicolaus lifted their price objective on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Needham & Company LLC upgraded Stryker from a “hold” rating to a “buy” rating and set a $392.00 price objective on the stock in a research note on Wednesday, May 22nd. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $370.58.

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.