Oakworth Capital Inc. Buys 100 Shares of Stryker Co. (NYSE:SYK)

Oakworth Capital Inc. increased its stake in Stryker Co. (NYSE:SYK) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,908 shares of the medical technology company’s stock after purchasing an additional 100 shares during the period. Oakworth Capital Inc.’s holdings in Stryker were worth $1,769,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Freedom Wealth Alliance LLC bought a new position in shares of Stryker in the fourth quarter worth $26,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of Stryker by 203.3% in 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 period. Quarry LP bought a new position in Stryker in the first quarter valued at about $27,000. HBC Financial Services PLLC bought a new position in Stryker in the fourth quarter valued at about $37,000. Finally, Bourgeon Capital Management LLC bought a new position in Stryker in the fourth quarter valued at about $37,000. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Allan C. Golston sold 3,273 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The disclosure for this sale can be found here. In the last three months, insiders have sold 212,109 shares of company stock worth $72,845,768. 5.50% of the stock is currently owned by insiders.

Stryker Price Performance

NYSE SYK traded down $1.07 during trading on Wednesday, reaching $336.59. The company’s stock had a trading volume of 663,881 shares, compared to its average volume of 1,246,687. The stock has a market capitalization of $128.06 billion, a PE ratio of 40.93, a P/E/G ratio of 2.73 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The firm has a fifty day moving average of $350.70 and a 200 day moving average of $311.86. Stryker Co. has a one year low of $249.98 and a one year high of $361.41.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.00 EPS. Analysts expect that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.80 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Roth Mkm lifted their target price on Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Royal Bank of Canada lifted their price target on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research note on Monday. Citigroup lifted their price target on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Finally, Evercore ISI lifted their price target on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average target price of $339.22.

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.