Do what you gotta do, and get her back in the water.
The cutlass may be toast if the strut is loose. If it is, you may want to drop the rudder, and check for moisture intrusion while you are at it. I have seen this with other O'days and found water in the rudder on my O'D 35.
Through hulls are relatively easy... Get some G10 from Mc Master-Carr for backing plates, then go here