Kayne Anderson Rudnick Investment Management LLC Cuts Position in Stryker Corporation $SYK

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in Stryker Corporation (NYSE:SYK) by 7.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,234 shares of the medical technology company’s stock after selling 5,254 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Stryker were worth $24,284,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYK. Brighton Jones LLC boosted its stake in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after buying an additional 609 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Stryker by 10.9% in the 4th quarter. Integrated Wealth Concepts LLC now owns 6,240 shares of the medical technology company’s stock worth $2,247,000 after buying an additional 611 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Stryker by 51.3% in the 4th quarter. Lord Abbett & CO. LLC now owns 894 shares of the medical technology company’s stock worth $322,000 after purchasing an additional 303 shares during the period. Nebula Research & Development LLC raised its holdings in shares of Stryker by 19.9% in the 4th quarter. Nebula Research & Development LLC now owns 2,920 shares of the medical technology company’s stock worth $1,051,000 after purchasing an additional 484 shares during the period. Finally, Coldstream Capital Management Inc. raised its holdings in shares of Stryker by 3.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,621 shares of the medical technology company’s stock worth $2,744,000 after purchasing an additional 273 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of a number of research reports. Citigroup reaffirmed a “buy” rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Needham & Company LLC lifted their price target on shares of Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a report on Friday, August 1st. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Roth Mkm lifted their price target on shares of Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Finally, Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $430.10.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction on 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 transaction, the director owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.90% of the company’s stock.

Stryker Trading Up 2.3%

Shares of SYK stock opened at $393.8040 on Monday. The company’s fifty day simple moving average is $387.51 and its two-hundred day simple moving average is $379.25. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The stock has a market capitalization of $150.55 billion, a price-to-earnings ratio of 52.16, a PEG ratio of 2.86 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the previous year, the firm posted $2.81 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

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

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.