Oak Asset Management LLC Has $6.71 Million Stake in Stryker Co. (NYSE:SYK)

Oak Asset Management LLC cut its holdings in shares of Stryker Co. (NYSE:SYK) by 0.8% in the 1st quarter, HoldingsChannel reports. The fund owned 18,750 shares of the medical technology company’s stock after selling 146 shares during the period. Stryker makes up approximately 2.5% 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 $6,710,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Burkett Financial Services LLC purchased a new position in Stryker during the fourth quarter worth about $25,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares during the last quarter. Rogco LP purchased a new position in Stryker during the fourth quarter worth about $30,000. DSM Capital Partners LLC purchased a new position in Stryker during the fourth quarter worth about $34,000. Finally, HBC Financial Services PLLC purchased a new position in Stryker during the fourth quarter worth about $37,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

NYSE SYK opened at $340.25 on Monday. The company’s 50 day moving average is $337.38 and its 200-day moving average is $333.91. 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 firm has a market cap of $129.62 billion, a P/E ratio of 38.84, a price-to-earnings-growth 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 posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. Stryker’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.14 EPS. Sell-side analysts predict that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors 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 dividend payout ratio (DPR) is presently 36.53%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SYK. Barclays boosted their price target on shares of Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. UBS Group boosted their target price on shares of Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Royal Bank of Canada boosted their target price on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. TD Cowen boosted their target price on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, Robert W. Baird boosted their target price on shares of Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $370.58.

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.