Stryker Corporation $SYK Stake Reduced by Jensen Investment Management Inc.

Jensen Investment Management Inc. lessened its holdings in Stryker Corporation (NYSE:SYK) by 13.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,220,050 shares of the medical technology company’s stock after selling 197,571 shares during the quarter. Stryker comprises approximately 5.6% of Jensen Investment Management Inc.’s investment portfolio, making the stock its 4th largest holding. Jensen Investment Management Inc.’s holdings in Stryker were worth $451,016,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Stryker in the second quarter worth $26,000. Clayton Financial Group LLC acquired a new position in Stryker during the third quarter valued at $26,000. Elevation Point Wealth Partners LLC purchased a new stake in Stryker in the second quarter valued at $28,000. Kilter Group LLC acquired a new stake in Stryker during the 2nd quarter worth about $29,000. Finally, Howard Hughes Medical Institute purchased a new position in shares of Stryker during the 2nd quarter valued at about $29,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

Stryker stock opened at $361.20 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $357.96 and a 200 day moving average price of $369.88. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $404.87. The stock has a market cap of $138.13 billion, a P/E ratio of 43.00, a PEG ratio of 2.08 and a beta of 0.87.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.40 by $0.07. The business had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.01 EPS. Sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. Stryker’s payout ratio is currently 41.90%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This represents a 9.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the sale, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 252,118 shares of company stock worth $91,504,172 over the last quarter. 5.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SYK shares. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Citizens Jmp raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price for the company in a research note on Friday, December 19th. Robert W. Baird set a $437.00 price target on Stryker in a research note on Friday, January 30th. Wells Fargo & Company increased their price objective on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Finally, Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price for the company in a report on Tuesday, January 6th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $426.94.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.