Oak Ridge Investments LLC Has $10.51 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Oak Ridge Investments LLC raised its position in Stryker Co. (NYSE:SYK - Free Report) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 biggest holding. Oak Ridge Investments LLC's holdings in Stryker were worth $10,508,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SYK. Dunhill Financial LLC raised its stake in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock worth $27,000 after buying an additional 37 shares during the period. Centennial Bank AR raised its position in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Stryker during the 3rd quarter valued at about $36,000. Hara Capital LLC acquired a new position in shares of Stryker in the 3rd quarter valued at approximately $42,000. Finally, HBW Advisory Services LLC bought a new stake in Stryker during the 3rd quarter worth approximately $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYK has been the subject of several research analyst reports. Canaccord Genuity Group upped their price target on shares of Stryker from $360.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Evercore ISI upped their target price on shares of Stryker from $380.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Needham & Company LLC reissued a "buy" rating and issued a $442.00 price target on shares of Stryker in a research note on Tuesday, January 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $425.00 price objective on shares of Stryker in a research report on Tuesday, January 7th. Finally, StockNews.com raised Stryker from a "hold" rating to a "buy" rating in a research report on Thursday, January 9th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $405.80.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.50% of the company's stock.

Stryker Stock Performance

Stryker stock traded up $2.12 during mid-day trading on Friday, hitting $383.91. 1,727,106 shares of the company's stock traded hands, compared to its average volume of 1,070,245. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20. The stock has a market cap of $146.35 billion, a price-to-earnings ratio of 41.15, a P/E/G ratio of 2.51 and a beta of 0.95. The firm has a 50 day simple moving average of $375.51 and a two-hundred day simple moving average of $358.98. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. Stryker's revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 EPS. On average, research analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This is a boost 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 dividend payout ratio (DPR) is presently 36.01%.

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.