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

Key Points

• PNC Financial Services Group reduced its Stryker stake by 3.2% in the fourth quarter, selling 32,588 shares and ending with 997,458 shares valued at about $350.6 million.
• Stryker reported weaker-than-expected quarterly results, with EPS of $2.60 versus the $2.98 estimate and revenue of $6.02 billion versus expectations of $6.34 billion, even though revenue still rose 2.6% year over year.
• The company also announced a quarterly dividend of $0.88 per share, payable July 31, while analysts remain generally positive with an average rating of “Moderate Buy” and an average price target of $395.48.

PNC Financial Services Group Inc. trimmed its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 997,458 shares of the medical technology company's stock after selling 32,588 shares during the quarter. PNC Financial Services Group Inc. owned about 0.26% of Stryker worth $350,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Tredje AP fonden lifted its position in Stryker by 32.0% during the 4th quarter. Tredje AP fonden now owns 131,561 shares of the medical technology company's stock valued at $46,240,000 after acquiring an additional 31,861 shares during the period. Handelsbanken Fonder AB lifted its position in Stryker by 13.5% during the 4th quarter. Handelsbanken Fonder AB now owns 320,001 shares of the medical technology company's stock valued at $112,471,000 after acquiring an additional 37,947 shares during the period. AMF Tjanstepension AB lifted its position in Stryker by 7.8% during the 4th quarter. AMF Tjanstepension AB now owns 187,059 shares of the medical technology company's stock valued at $65,746,000 after acquiring an additional 13,524 shares during the period. Profund Advisors LLC lifted its position in Stryker by 24.2% during the 4th quarter. Profund Advisors LLC now owns 5,766 shares of the medical technology company's stock valued at $2,027,000 after acquiring an additional 1,122 shares during the period. Finally, ProShare Advisors LLC lifted its position in Stryker by 8.4% during the 4th quarter. ProShare Advisors LLC now owns 65,383 shares of the medical technology company's stock valued at $22,980,000 after acquiring an additional 5,047 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 stock was sold at an average price of $283.85, for a total value of $1,481,697.00. Following the completion of the transaction, the vice president owned 13,137 shares of the company's stock, valued at approximately $3,728,937.45. The trade was a 28.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.60% of the company's stock.

Stryker Price Performance

SYK opened at $317.81 on Wednesday. The stock has a 50-day moving average price of $327.61 and a 200-day moving average price of $350.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25. The firm has a market cap of $121.84 billion, a PE ratio of 36.78, a P/E/G ratio of 1.97 and a beta of 0.80. Stryker Corporation has a 1 year low of $281.00 and a 1 year high of $404.87.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.38). Stryker had a return on equity of 23.42% and a net margin of 13.20%.The company had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $6.34 billion. During the same period in the prior year, the firm earned $2.84 EPS. Stryker's revenue for the quarter was up 2.6% compared to the same quarter last year. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. Sell-side analysts predict that Stryker Corporation will post 14.98 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.52 dividend on an annualized basis and a yield of 1.1%. Stryker's payout ratio is 40.74%.

Analyst Ratings Changes

A number of research analysts recently issued reports on SYK shares. Needham & Company LLC lowered their price target on shares of Stryker from $454.00 to $418.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Evercore set a $355.00 price target on Stryker in a research report on Friday, May 1st. Robert W. Baird set a $385.00 price target on Stryker in a research report on Friday, May 1st. Jefferies Financial Group reaffirmed a "buy" rating and issued a $465.00 price target on shares of Stryker in a research report on Wednesday, March 4th. Finally, Canaccord Genuity Group lowered their price target on Stryker from $435.00 to $400.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Sixteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $395.48.

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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