PNC Financial Services Group Inc. Purchases 17,278 Shares of Stryker Corporation $SYK

PNC Financial Services Group Inc. grew its holdings in shares of Stryker Corporation (NYSE:SYK) by 1.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,050,602 shares of the medical technology company’s stock after buying an additional 17,278 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Stryker were worth $415,650,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Stryker by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock worth $12,306,572,000 after acquiring an additional 361,136 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in 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 purchasing an additional 1,021,496 shares during the period. Goldman Sachs Group Inc. grew its holdings in Stryker by 13.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock worth $838,640,000 after acquiring an additional 261,058 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Stryker by 4.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company’s stock valued at $776,871,000 after buying an additional 83,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Stryker by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,015,374 shares of the medical technology company’s stock worth $750,223,000 after purchasing an additional 30,329 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SYK. BTIG Research boosted their price objective on Stryker from $408.00 to $410.00 and gave the company a “buy” rating in a report on Friday, October 31st. Evercore ISI reduced their target price on Stryker from $410.00 to $405.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Redburn Partners set a $420.00 price target on shares of Stryker in a report on Thursday, September 18th. Sanford C. Bernstein reissued an “outperform” rating on shares of Stryker in a research note on Monday, November 3rd. Finally, Wells Fargo & Company increased their price objective on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average price target of $433.37.

Insider Activity

In other Stryker news, insider Viju Menon sold 500 shares of Stryker stock in a transaction that occurred 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 owned 12,511 shares of the company’s stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total value of $97,566,397.44. Following the completion of the sale, the director owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 520,500 shares of company stock worth $184,803,065. Corporate insiders own 5.20% of the company’s stock.

Stryker Price Performance

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. The firm has a market cap of $139.08 billion, a price-to-earnings ratio of 48.17, a PEG ratio of 2.66 and a beta of 0.94. The stock’s 50-day moving average price is $373.39 and its 200 day moving average price is $381.33. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19.

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

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.