PNC Financial Services Group Inc. Has $380.78 Million Stock Holdings in Stryker Corporation $SYK

PNC Financial Services Group Inc. lowered its stake in shares of Stryker Corporation (NYSE:SYK) by 2.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,030,046 shares of the medical technology company’s stock after selling 20,556 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Stryker were worth $380,777,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SYK. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Stryker during the second quarter worth $26,000. Clayton Financial Group LLC acquired a new position in shares of Stryker during the third quarter worth about $26,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Stryker in the second quarter valued at about $28,000. Kilter Group LLC acquired a new stake in Stryker in the second quarter valued at $29,000. Finally, Howard Hughes Medical Institute acquired a new position in shares of Stryker during the 2nd quarter worth approximately $29,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

Shares of NYSE SYK opened at $366.02 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $404.87. The company has a market capitalization of $140.07 billion, a PE ratio of 43.57, a price-to-earnings-growth ratio of 2.14 and a beta of 0.87. The company’s fifty day moving average price is $358.00 and its 200 day moving average price is $369.35.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.40 by $0.07. The company had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $4.01 earnings per share. On average, research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is 41.90%.

Insider Buying and Selling

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the transaction, the chief financial officer owned 6,694 shares in the company, valued at $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of analyst reports. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target for the company in a research note on Friday, December 19th. TD Cowen lowered shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 price target for the company. in a research report on Monday, January 26th. Needham & Company LLC raised their price target on Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Finally, Citigroup reiterated a “market outperform” rating on shares of Stryker in a research note on Friday, January 30th. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $426.94.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.