Jensen Investment Management Inc. Has $662.34 Million Holdings in Stryker Co. (NYSE:SYK)

Jensen Investment Management Inc. decreased its stake in Stryker Co. (NYSE:SYK) by 6.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,833,422 shares of the medical technology company’s stock after selling 121,033 shares during the quarter. Stryker accounts for about 5.5% of Jensen Investment Management Inc.’s investment portfolio, making the stock its 5th largest holding. Jensen Investment Management Inc. owned 0.48% of Stryker worth $662,342,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Arrow Financial Corp boosted its position in Stryker by 0.4% during the 3rd quarter. Arrow Financial Corp now owns 13,521 shares of the medical technology company’s stock worth $4,885,000 after acquiring an additional 55 shares during the period. Mesirow Financial Investment Management Inc. raised its stake in shares of Stryker by 1.4% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 18,136 shares of the medical technology company’s stock worth $6,554,000 after purchasing an additional 253 shares in the last quarter. XML Financial LLC raised its stake in shares of Stryker by 7.1% during the 3rd quarter. XML Financial LLC now owns 3,100 shares of the medical technology company’s stock worth $1,120,000 after purchasing an additional 205 shares in the last quarter. Carr Financial Group Corp purchased a new stake in shares of Stryker during the 3rd quarter worth about $219,000. Finally, Atria Investments Inc raised its stake in shares of Stryker by 11.2% during the 3rd quarter. Atria Investments Inc now owns 23,722 shares of the medical technology company’s stock worth $8,570,000 after purchasing an additional 2,383 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SYK shares. Morgan Stanley raised their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Robert W. Baird raised their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Needham & Company LLC raised their price objective on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price objective on Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Stryker Trading Up 1.7 %

NYSE:SYK traded up $6.13 during mid-day trading on Friday, hitting $375.96. The company had a trading volume of 1,009,226 shares, compared to its average volume of 1,183,677. Stryker Co. has a fifty-two week low of $266.93 and a fifty-two week high of $377.83. The business’s fifty day moving average is $361.46 and its two-hundred day moving average is $345.71. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The firm has a market cap of $143.32 billion, a P/E ratio of 40.30, a P/E/G ratio of 2.83 and a beta of 0.91.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the prior year, the firm posted $2.46 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, research analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock worth $24,825,275 over the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Stryker Company Profile

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.