Kayne Anderson Rudnick Investment Management LLC Has $23.89 Million Stock Position in Stryker Co. (NYSE:SYK)

Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 3.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,198 shares of the medical technology company’s stock after buying an additional 2,222 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Stryker were worth $23,885,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYK. Koshinski Asset Management Inc. bought a new stake in Stryker in the 1st quarter valued at $795,000. Envestnet Portfolio Solutions Inc. raised its position in shares of Stryker by 43.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after purchasing an additional 5,565 shares during the period. Norden Group LLC acquired a new stake in shares of Stryker during the 1st quarter worth about $4,027,000. International Assets Investment Management LLC bought a new stake in shares of Stryker during the 1st quarter worth about $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in Stryker by 38.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after buying an additional 5,502 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 0.1 %

SYK stock opened at $364.81 on Friday. The stock has a market capitalization of $138.97 billion, a P/E ratio of 41.64, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $345.12 and a 200-day moving average price of $342.89. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $374.63.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the business posted $2.54 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts anticipate that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Insider Activity

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SYK shares. UBS Group raised their price objective on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Morgan Stanley boosted their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Stifel Nicolaus lowered their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. BTIG Research boosted their target price on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group assumed coverage on shares of Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $378.58.

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.