Jensen Investment Management Inc. Trims Position in Stryker Corporation (NYSE:SYK)

Key Points

• Jensen Investment Management Inc. reduced its stake in Stryker Corporation by 14.0%, selling 246,059 shares during the first quarter, which brings its total holdings to approximately 1.5 million shares.
• Stryker recently announced a quarterly dividend of $0.84 per share, with a yield of 0.9% and a dividend payout ratio of 44.50%.
• Analysts have a positive outlook on Stryker, with an average rating of "Moderate Buy" and a price target of $430.10, reflecting expectations for further growth in earnings.

Jensen Investment Management Inc. reduced its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,517,463 shares of the medical technology company's stock after selling 246,059 shares during the quarter. Stryker accounts for 6.2% of Jensen Investment Management Inc.'s holdings, making the stock its 5th biggest holding. Jensen Investment Management Inc. owned approximately 0.40% of Stryker worth $564,876,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. AXS Investments LLC raised its position in Stryker by 13.7% in the first quarter. AXS Investments LLC now owns 8,827 shares of the medical technology company's stock valued at $3,286,000 after purchasing an additional 1,062 shares during the last quarter. Vanguard Group Inc. increased its holdings in Stryker by 1.1% in the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock worth $12,306,572,000 after purchasing an additional 361,136 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Stryker by 13.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock worth $838,640,000 after purchasing an additional 261,058 shares in the last quarter. Planning Alternatives Ltd. ADV acquired a new stake in Stryker in the first quarter valued at approximately $201,000. Finally, West Michigan Advisors LLC boosted its position in shares of Stryker by 2.4% during the first quarter. West Michigan Advisors LLC now owns 8,884 shares of the medical technology company's stock valued at $3,315,000 after buying an additional 209 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

Shares of Stryker stock traded up $1.36 during mid-day trading on Friday, reaching $377.73. 972,332 shares of the stock traded hands, compared to its average volume of 1,333,167. The business has a 50-day moving average of $387.17 and a 200 day moving average of $380.08. Stryker Corporation has a fifty-two week low of $322.03 and a fifty-two week high of $406.19. The stock has a market capitalization of $144.41 billion, a PE ratio of 50.03, a PEG ratio of 2.74 and a beta of 0.91. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.81 earnings per share. On average, analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's payout ratio is presently 44.50%.

Wall Street Analysts Forecast Growth

SYK has been the topic of several research analyst reports. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research report on Monday, May 5th. Citigroup reiterated a "buy" rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Roth Mkm increased their target price on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, BTIG Research restated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $430.10.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.90% of the company's stock.

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.