PNC Financial Services Group Inc. Grows Stock Position in Stryker Corporation $SYK

PNC Financial Services Group Inc. raised its holdings in Stryker Corporation (NYSE:SYK) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,050,602 shares of the medical technology company’s stock after purchasing an additional 17,278 shares during the period. PNC Financial Services Group Inc. owned 0.27% of Stryker worth $415,650,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SYK. Nuveen LLC purchased a new stake in shares of Stryker in the first quarter worth about $558,075,000. Price T Rowe Associates Inc. MD boosted its holdings in Stryker by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock valued at $4,515,847,000 after purchasing an additional 1,021,496 shares during the period. Alliancebernstein L.P. grew its position in shares of Stryker by 66.7% during the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock valued at $511,152,000 after purchasing an additional 549,643 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Stryker by 1.1% in 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 during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Stryker by 13.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock worth $838,640,000 after buying an additional 261,058 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 500 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider directly owned 12,511 shares of the company’s stock, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 276,173 shares of Stryker stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the transaction, the director owned 2,702,108 shares in the company, valued at $954,600,714.24. This represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 520,500 shares of company stock worth $184,803,065 over the last ninety days. 5.20% of the stock is currently owned by insiders.

Stryker Trading Up 2.4%

Shares of SYK opened at $363.68 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The firm’s 50-day moving average price is $373.39 and its 200-day moving average price is $381.33. The firm has a market capitalization of $139.08 billion, a price-to-earnings ratio of 48.17, a PEG ratio of 2.66 and a beta of 0.94.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, October 30th. The medical technology company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.13 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business had revenue of $6.06 billion during the quarter, compared to analyst estimates of $6.04 billion. During the same quarter last year, the firm posted $2.87 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SYK. Redburn Partners set a $420.00 price target on Stryker in a report on Thursday, September 18th. Weiss Ratings lowered shares of Stryker from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. UBS Group set a $408.00 price target on shares of Stryker in a research report on Monday, October 13th. Truist Financial reaffirmed a “hold” rating and set a $392.00 price objective (down from $407.00) on shares of Stryker in a research note on Monday, November 3rd. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Stryker in a research note on Monday, November 3rd. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $433.37.

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.