Oak Point Wealth Management Acquires Shares of 945 Stryker Corporation (SYK)
Oak Point Wealth Management acquired a new stake in Stryker Corporation (NYSE:SYK) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 945 shares of the medical technology company’s stock, valued at approximately $145,000.
A number of other large investors have also recently made changes to their positions in SYK. Acrospire Investment Management LLC bought a new stake in shares of Stryker during the second quarter worth $111,000. Motco grew its stake in shares of Stryker by 50.7% during the second quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after buying an additional 278 shares during the last quarter. San Francisco Sentry Investment Group CA grew its stake in shares of Stryker by 47.8% during the third quarter. San Francisco Sentry Investment Group CA now owns 1,005 shares of the medical technology company’s stock worth $143,000 after buying an additional 325 shares during the last quarter. Bruderman Asset Management LLC bought a new stake in shares of Stryker during the second quarter worth $150,000. Finally, BB&T Investment Services Inc. bought a new stake in shares of Stryker during the second quarter worth $178,000. 74.90% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on SYK shares. SunTrust Banks reaffirmed a “buy” rating and set a $161.00 target price on shares of Stryker in a research note on Monday, October 2nd. Royal Bank of Canada reaffirmed a “buy” rating and set a $155.00 target price on shares of Stryker in a research note on Monday, October 2nd. Cowen set a $160.00 target price on shares of Stryker and gave the stock a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research cut shares of Stryker from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $161.00 target price on shares of Stryker in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $156.60.
Shares of Stryker Corporation (NYSE:SYK) opened at $159.54 on Thursday. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63. Stryker Corporation has a one year low of $119.17 and a one year high of $164.20. The firm has a market cap of $59,710.00, a price-to-earnings ratio of 34.02, a P/E/G ratio of 2.30 and a beta of 0.78.
Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.02. Stryker had a net margin of 14.67% and a return on equity of 24.11%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the previous year, the firm posted $1.39 earnings per share. Stryker’s revenue for the quarter was up 6.1% on a year-over-year basis. analysts forecast that Stryker Corporation will post 6.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be paid a $0.47 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, December 28th. This represents a $1.88 annualized dividend and a dividend yield of 1.18%. Stryker’s payout ratio is currently 40.09%.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $155.34, for a total value of $776,700.00. Following the transaction, the insider now owns 83,207 shares in the company, valued at $12,925,375.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 7.40% of the company’s stock.
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Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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