Stryker Corporation $SYK is Jensen Investment Management Inc.’s 2nd Largest Position

Jensen Investment Management Inc. reduced its stake in Stryker Corporation (NYSE:SYK) by 6.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,417,621 shares of the medical technology company’s stock after selling 99,842 shares during the quarter. Stryker accounts for 6.6% of Jensen Investment Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Jensen Investment Management Inc. owned about 0.37% of Stryker worth $560,853,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SYK. Nuveen LLC purchased a new position in Stryker in the 1st quarter valued at $558,075,000. Price T Rowe Associates Inc. MD raised its position in Stryker by 9.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock worth $4,515,847,000 after buying an additional 1,021,496 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Stryker by 66.7% in the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock worth $511,152,000 after acquiring an additional 549,643 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Stryker by 1.1% in the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock valued at $12,306,572,000 after acquiring an additional 361,136 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Stryker by 13.1% during 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 acquiring an additional 261,058 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 3.0%

Shares of SYK stock opened at $362.39 on Friday. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The stock has a market cap of $138.59 billion, a P/E ratio of 48.00, a P/E/G ratio of 2.66 and a beta of 0.94. The business has a fifty day simple moving average of $371.96 and a 200-day simple moving average of $381.22. 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) last released its quarterly earnings data on Thursday, October 30th. The medical technology company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.13 by $0.06. The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.87 EPS. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. On average, analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Viju Menon sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, the insider owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the transaction, the director directly owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. The trade was a 9.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 520,500 shares of company stock worth $184,803,065 in the last ninety days. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SYK. Rothschild Redb upgraded shares of Stryker to a “hold” rating in a research report on Thursday, September 18th. Rothschild & Co Redburn initiated coverage on Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price target for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Stryker in a research note on Thursday. BTIG Research reiterated a “buy” rating and issued a $410.00 price objective on shares of Stryker in a research report on Friday. Finally, Truist Financial boosted their target price on shares of Stryker from $392.00 to $400.00 and gave the stock a “hold” rating in a research report on Friday. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $434.37.

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.