PNC Financial Services Group Inc. lifted its holdings in Stryker Corporation (NYSE:SYK – Free Report) by 8.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,085,580 shares of the medical technology company’s stock after acquiring an additional 88,122 shares during the period. PNC Financial Services Group Inc.’s holdings in Stryker were worth $356,711,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. VanderPol Investments L.L.C. raised its position in Stryker by 1.4% during the fourth quarter. VanderPol Investments L.L.C. now owns 2,084 shares of the medical technology company’s stock valued at $732,000 after purchasing an additional 28 shares during the period. KCM Investment Advisors LLC boosted its holdings in shares of Stryker by 1.5% in the 4th quarter. KCM Investment Advisors LLC now owns 1,857 shares of the medical technology company’s stock worth $653,000 after purchasing an additional 28 shares during the period. Rossby Financial LCC boosted its holdings in shares of Stryker by 6.6% in the 4th quarter. Rossby Financial LCC now owns 451 shares of the medical technology company’s stock worth $159,000 after purchasing an additional 28 shares during the period. Tcfg Wealth Management LLC increased its position in shares of Stryker by 2.7% during the 3rd quarter. Tcfg Wealth Management LLC now owns 1,091 shares of the medical technology company’s stock valued at $403,000 after purchasing an additional 29 shares during the last quarter. Finally, Mechanics Financial Corp increased its position in shares of Stryker by 1.2% during the 4th quarter. Mechanics Financial Corp now owns 2,458 shares of the medical technology company’s stock valued at $864,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.
Stryker Price Performance
SYK opened at $313.89 on Wednesday. The business has a fifty day moving average of $313.79 and a 200 day moving average of $336.20. Stryker Corporation has a 52-week low of $281.00 and a 52-week high of $404.87. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62. The stock has a market cap of $120.33 billion, a P/E ratio of 36.33, a PEG ratio of 2.04 and a beta of 0.77.
Stryker Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a $0.88 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. Stryker’s dividend payout ratio is presently 40.74%.
Insider Transactions at Stryker
In other Stryker news, VP M Kathryn Fink sold 5,220 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $283.85, for a total value of $1,481,697.00. Following the completion of the sale, the vice president directly owned 13,137 shares of the company’s stock, valued at $3,728,937.45. The trade was a 28.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert S. Fletcher sold 4,544 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $306.87, for a total transaction of $1,394,417.28. Following the completion of the sale, the vice president directly owned 10,582 shares of the company’s stock, valued at approximately $3,247,298.34. This trade represents a 30.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 323,264 shares of company stock worth $100,659,489. Insiders own 4.60% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on SYK. Truist Financial restated a “hold” rating and issued a $330.00 price target (down from $380.00) on shares of Stryker in a research report on Monday, May 4th. Evercore set a $350.00 price objective on shares of Stryker in a research report on Monday, July 6th. Leerink Partners reduced their target price on shares of Stryker from $410.00 to $407.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Deutsche Bank Aktiengesellschaft set a $315.00 target price on shares of Stryker in a report on Friday, May 1st. Finally, BMO Capital Markets began coverage on shares of Stryker in a research note on Wednesday, July 8th. They set an “outperform” rating and a $369.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $392.52.
Stryker Company 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.
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