Jensen Investment Management Inc. Sells 69,900 Shares of Stryker Co. (NYSE:SYK)

Jensen Investment Management Inc. reduced its position in Stryker Co. (NYSE:SYK) by 3.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,763,522 shares of the medical technology company’s stock after selling 69,900 shares during the quarter. Stryker comprises about 5.7% of Jensen Investment Management Inc.’s holdings, making the stock its 5th largest position. Jensen Investment Management Inc.’s holdings in Stryker were worth $634,956,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SYK. Creative Financial Designs Inc. ADV grew its stake in shares of Stryker by 25.6% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 398 shares of the medical technology company’s stock worth $143,000 after purchasing an additional 81 shares during the period. GLOBALT Investments LLC GA grew its stake in shares of Stryker by 27.0% during the 4th quarter. GLOBALT Investments LLC GA now owns 18,885 shares of the medical technology company’s stock worth $6,800,000 after purchasing an additional 4,013 shares during the period. GWN Securities Inc. acquired a new position in shares of Stryker during the 4th quarter worth $231,000. Glenview Trust co grew its stake in shares of Stryker by 0.8% during the 4th quarter. Glenview Trust co now owns 4,382 shares of the medical technology company’s stock worth $1,578,000 after purchasing an additional 33 shares during the period. Finally, Harbour Investments Inc. grew its stake in Stryker by 17.4% in the 4th quarter. Harbour Investments Inc. now owns 7,431 shares of the medical technology company’s stock valued at $2,676,000 after acquiring an additional 1,101 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYK has been the topic of a number of research reports. Truist Financial increased their price objective on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. JMP Securities restated a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Wells Fargo & Company increased their price objective on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $442.00 price objective on shares of Stryker in a report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average target price of $421.90.

Stryker Stock Up 1.7 %

SYK opened at $369.96 on Monday. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The stock has a market cap of $141.17 billion, a P/E ratio of 47.68, a P/E/G ratio of 2.93 and a beta of 0.95. The stock’s 50 day moving average price is $383.04 and its 200 day moving average price is $373.60.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the previous year, the company posted $3.46 EPS. As a group, research analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

About Stryker

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.