Jensen Investment Management Inc. Decreases Holdings in Stryker Corporation $SYK

Jensen Investment Management Inc. decreased its stake in Stryker Corporation (NYSE:SYK) by 13.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,220,050 shares of the medical technology company’s stock after selling 197,571 shares during the quarter. Stryker makes up 5.6% of Jensen Investment Management Inc.’s portfolio, making the stock its 4th biggest holding. Jensen Investment Management Inc. owned 0.32% of Stryker worth $451,016,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Stryker during the 2nd quarter valued at $26,000. Clayton Financial Group LLC purchased a new position in shares of Stryker in the third quarter worth $26,000. Elevation Point Wealth Partners LLC bought a new position in shares of Stryker during the second quarter worth $28,000. Kilter Group LLC bought a new stake in Stryker in the 2nd quarter valued at $29,000. Finally, Howard Hughes Medical Institute purchased a new stake in Stryker in the 2nd quarter worth $29,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

Shares of NYSE:SYK 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 firm’s 50-day moving average is $357.96 and its 200 day moving average is $369.88. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $404.87. The company has a market capitalization of $138.13 billion, a price-to-earnings ratio of 43.00, a PEG ratio of 2.08 and a beta of 0.87.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. The firm had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.Stryker’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $4.01 EPS. Research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.88 per share. 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 dividend payout ratio (DPR) is presently 41.90%.

Wall Street Analyst Weigh In

SYK has been the subject of a number of research analyst reports. Royal Bank Of Canada restated an “outperform” rating and set a $435.00 price objective on shares of Stryker in a research report on Friday, November 14th. The Goldman Sachs Group set a $399.00 price objective on Stryker in a research note on Friday, January 9th. Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Citigroup reaffirmed a “market outperform” rating on shares of Stryker in a research note on Friday, January 30th. Finally, Needham & Company LLC boosted their target price on shares of Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Twelve 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.94.

Insider Buying and Selling at Stryker

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at $2,449,200.72. This represents a 2.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the sale, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 252,118 shares of company stock valued at $91,504,172 in the last three months. Company insiders own 5.20% of the company’s stock.

Stryker Company 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.