Oakworth Capital Inc. Increases Stake in Stryker Co. (NYSE:SYK)

Oakworth Capital Inc. raised its stake in shares of Stryker Co. (NYSE:SYK) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,104 shares of the medical technology company’s stock after buying an additional 230 shares during the quarter. Oakworth Capital Inc.’s holdings in Stryker were worth $2,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in SYK. Silver Oak Securities Incorporated bought a new position in shares of Stryker during the 4th quarter valued at approximately $571,000. Adero Partners LLC boosted its position in shares of Stryker by 5.4% during the 4th quarter. Adero Partners LLC now owns 801 shares of the medical technology company’s stock valued at $288,000 after acquiring an additional 41 shares during the last quarter. YANKCOM Partnership bought a new position in shares of Stryker during the 4th quarter valued at approximately $139,000. Bleakley Financial Group LLC boosted its position in shares of Stryker by 25.2% during the 4th quarter. Bleakley Financial Group LLC now owns 9,763 shares of the medical technology company’s stock valued at $3,515,000 after acquiring an additional 1,964 shares during the last quarter. Finally, NovaPoint Capital LLC lifted its position in Stryker by 5.3% in the fourth quarter. NovaPoint Capital LLC now owns 2,978 shares of the medical technology company’s stock worth $1,072,000 after buying an additional 150 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

SYK opened at $399.01 on Thursday. The business’s 50-day moving average is $377.08 and its two-hundred day moving average is $364.24. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a market capitalization of $152.11 billion, a PE ratio of 51.42, a price-to-earnings-growth ratio of 2.78 and a beta of 0.96.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the business earned $3.46 EPS. Research analysts anticipate that Stryker Co. will post 13.5 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.84%. Stryker’s payout ratio is 43.30%.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SYK shares. BTIG Research raised their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Citigroup raised their price target on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Royal Bank of Canada lifted their target price on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $419.37.

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.