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

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its position in Stryker Corporation by 7.5%, selling 5,254 shares and holding 65,234 shares valued at approximately $24.3 million.
• Analysts have expressed positive sentiment for Stryker, with multiple firms maintaining a "buy" rating and price targets ranging from $430 to $456, indicating strong market confidence in the stock.
• In a significant insider transaction, Director Ronda E. Stryker sold 200,000 shares at an average price of $376.45, resulting in a 5.84% decrease in her ownership.

Kayne Anderson Rudnick Investment Management LLC reduced its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,234 shares of the medical technology company's stock after selling 5,254 shares during the quarter. 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 large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Stryker by 1.1% during 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. Price T Rowe Associates Inc. MD raised its stake in shares of 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 period. Northern Trust Corp lifted its position in shares of Stryker by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock valued at $1,298,426,000 after buying an additional 420,153 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock valued at $838,640,000 after acquiring an additional 261,058 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after acquiring an additional 2,070,133 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 500 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the transaction, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Analyst Ratings Changes

SYK has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. BTIG Research reiterated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research note on Monday, May 5th. Evercore ISI raised their target price on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Truist Financial set a $415.00 price target on Stryker and gave the stock a "hold" rating in a research report on Monday, August 4th. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and an average price target of $430.10.

Stryker Trading Up 0.5%

Shares of SYK stock traded up $1.81 on Friday, hitting $391.48. 669,919 shares of the stock traded hands, compared to its average volume of 1,414,915. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The firm's 50-day moving average price is $388.94 and its two-hundred day moving average price is $379.43. The stock has a market capitalization of $149.67 billion, a PE ratio of 51.85, a PEG ratio of 2.86 and a beta of 0.91.

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

Stryker Announces Dividend

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

Stryker 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.