Oak Ridge Investments LLC Purchases 1,731 Shares of Stryker Co. (NYSE:SYK)

Oak Ridge Investments LLC increased its holdings in Stryker Co. (NYSE:SYK) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,186 shares of the medical technology company’s stock after purchasing an additional 1,731 shares during the period. Stryker makes up about 0.8% of Oak Ridge Investments LLC’s investment portfolio, making the stock its 26th largest position. Oak Ridge Investments LLC’s holdings in Stryker were worth $10,508,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Dunhill Financial LLC raised its position in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the period. Centennial Bank AR raised its holdings in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new stake in Stryker during the 3rd quarter valued at $36,000. HBW Advisory Services LLC purchased a new position in Stryker during the third quarter worth $42,000. Finally, Hara Capital LLC bought a new position in Stryker during the third quarter valued at $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the subject of several analyst reports. Canaccord Genuity Group raised their target price on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Finally, Robert W. Baird increased their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $405.80.

Stryker Trading Up 0.6 %

Shares of SYK opened at $383.91 on Friday. Stryker Co. has a 12-month low of $307.23 and a 12-month high of $398.20. The firm 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. The firm has a 50-day moving average price of $375.51 and a 200 day moving average price of $358.81. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

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

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.84 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s payout ratio is 36.01%.

Insider Buying and Selling at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

Stryker 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.