PNC Financial Services Group Inc. Purchases 88,122 Shares of Stryker Corporation $SYK

Key Points

• PNC Financial Services Group increased its stake in Stryker by 8.8% in Q1, adding 88,122 shares and bringing its total holdings to 1,085,580 shares worth about $356.7 million.
• Stryker’s recent earnings came in below analyst expectations, with EPS of $2.60 versus $2.98 expected and revenue of $6.02 billion versus $6.34 billion expected, though revenue still rose 2.6% year over year.
• The company recently declared a quarterly dividend of $0.88 per share, implying an annualized payout of $3.52 and a yield of about 1.1%.

PNC Financial Services Group Inc. raised its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 8.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,085,580 shares of the medical technology company's stock after purchasing an additional 88,122 shares during the quarter. PNC Financial Services Group Inc. owned 0.28% of Stryker worth $356,711,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SYK. Czech National Bank increased its stake in shares of Stryker by 3.9% in the fourth quarter. Czech National Bank now owns 90,755 shares of the medical technology company's stock worth $31,898,000 after purchasing an additional 3,366 shares in the last quarter. Daymark Wealth Partners LLC raised its position in shares of Stryker by 436.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 45,863 shares of the medical technology company's stock valued at $16,119,000 after purchasing an additional 37,307 shares during the period. Varma Mutual Pension Insurance Co lifted its stake in shares of Stryker by 10.5% during the 4th quarter. Varma Mutual Pension Insurance Co now owns 53,610 shares of the medical technology company's stock valued at $18,842,000 after buying an additional 5,100 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in Stryker by 265.2% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 9,328 shares of the medical technology company's stock worth $3,278,000 after buying an additional 6,774 shares during the period. Finally, Diversified Trust Co. boosted its holdings in Stryker by 58.3% in the 4th quarter. Diversified Trust Co. now owns 19,704 shares of the medical technology company's stock worth $6,925,000 after buying an additional 7,259 shares during the period. Institutional investors own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Leerink Partners decreased their price target on Stryker from $410.00 to $407.00 and set an "outperform" rating on the stock in a report on Friday, June 5th. Citigroup cut their target price on Stryker from $420.00 to $385.00 and set a "buy" rating for the company in a research report on Tuesday, April 7th. Needham & Company LLC decreased their target price on Stryker from $454.00 to $418.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft set a $315.00 price target on Stryker in a report on Friday, May 1st. Finally, Truist Financial restated a "hold" rating and issued a $330.00 price target (down from $380.00) on shares of Stryker in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $392.52.

Stryker Stock Down 1.6%

Shares of SYK stock opened at $313.89 on Wednesday. The company's fifty day simple moving average is $313.79 and its two-hundred day simple moving average is $336.20. Stryker Corporation has a 52 week low of $281.00 and a 52 week high of $404.87. 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. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The medical technology company reported $2.60 earnings per share for the quarter, missing analysts' consensus estimates of $2.98 by ($0.38). Stryker had a net margin of 13.20% and a return on equity of 23.42%. The firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $6.34 billion. During the same quarter in the previous year, the business earned $2.84 EPS. The company's revenue for the quarter was up 2.6% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. Analysts predict that Stryker Corporation will post 14.99 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Stryker's dividend payout ratio (DPR) is currently 40.74%.

Insider Buying and Selling at Stryker

In other Stryker news, VP Robert S. Fletcher sold 4,544 shares of Stryker stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $306.87, for a total value of $1,394,417.28. Following the sale, the vice president owned 10,582 shares of the company's stock, valued at $3,247,298.34. The trade was a 30.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP M Kathryn Fink sold 5,220 shares of the company's stock in a transaction that occurred on 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 sale, the vice president directly owned 13,137 shares in the company, valued at $3,728,937.45. This trade represents a 28.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 323,264 shares of company stock worth $100,659,489 in the last quarter. 4.60% of the stock is owned by corporate insiders.

About Stryker

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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