Hutchens Investment Management Inc Decreases Holdings in Stryker Corporation (SYK)

Hutchens Investment Management Inc lessened its stake in shares of Stryker Corporation (NYSE:SYK) by 26.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,053 shares of the medical technology company’s stock after selling 5,428 shares during the quarter. Stryker makes up 2.2% of Hutchens Investment Management Inc’s holdings, making the stock its 14th biggest holding. Hutchens Investment Management Inc’s holdings in Stryker were worth $2,330,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Stryker by 2.8% in the second quarter. Vanguard Group Inc. now owns 24,078,709 shares of the medical technology company’s stock worth $3,341,643,000 after purchasing an additional 657,656 shares during the last quarter. BlackRock Inc. grew its stake in shares of Stryker by 5.2% in the second quarter. BlackRock Inc. now owns 23,115,853 shares of the medical technology company’s stock worth $3,208,017,000 after purchasing an additional 1,139,082 shares during the last quarter. Jensen Investment Management Inc. grew its stake in shares of Stryker by 11.3% in the third quarter. Jensen Investment Management Inc. now owns 2,472,476 shares of the medical technology company’s stock worth $351,141,000 after purchasing an additional 251,685 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Stryker by 2.8% in the third quarter. Legal & General Group Plc now owns 1,805,572 shares of the medical technology company’s stock worth $256,393,000 after purchasing an additional 49,143 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Stryker by 4.8% in the third quarter. Wells Fargo & Company MN now owns 1,742,959 shares of the medical technology company’s stock worth $247,536,000 after purchasing an additional 79,551 shares during the last quarter. 74.90% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Stryker Corporation (SYK) traded down $1.58 during midday trading on Wednesday, hitting $159.20. 626,127 shares of the stock traded hands, compared to its average volume of 1,223,683. Stryker Corporation has a 52-week low of $119.05 and a 52-week high of $164.20. The firm has a market capitalization of $60,170.00, a price-to-earnings ratio of 33.94, a P/E/G ratio of 2.30 and a beta of 0.78. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.02. Stryker had a net margin of 14.67% and a return on equity of 24.11%. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the prior year, the business earned $1.39 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. sell-side analysts forecast that Stryker Corporation will post 6.47 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.88 annualized dividend and a dividend yield of 1.18%. This is a positive change from Stryker’s previous quarterly dividend of $0.43. Stryker’s dividend payout ratio is currently 40.09%.

In related news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $155.34, for a total value of $776,700.00. Following the sale, the insider now owns 83,207 shares in the company, valued at approximately $12,925,375.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.40% of the company’s stock.

Several analysts recently weighed in on the stock. SunTrust Banks reissued a “buy” rating and issued a $161.00 price objective on shares of Stryker in a research note on Monday, October 2nd. Oppenheimer set a $156.00 price target on shares of Stryker and gave the company a “hold” rating in a research report on Monday, October 30th. Canaccord Genuity upped their price target on shares of Stryker from $155.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Zacks Investment Research cut shares of Stryker from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Finally, Cowen set a $160.00 price target on shares of Stryker and gave the company a “buy” rating in a research report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $156.60.

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About Stryker

Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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