Stryker Co. (NYSE:SYK) Stake Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its position in shares of Stryker Co. (NYSE:SYK) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,019,614 shares of the medical technology company’s stock after selling 29,481 shares during the quarter. PNC Financial Services Group Inc. owned 0.27% of Stryker worth $367,112,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new position in Stryker during the fourth quarter worth $25,000. Dunhill Financial LLC lifted its stake in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Stryker during the fourth quarter worth $30,000. BankPlus Trust Department bought a new position in Stryker during the fourth quarter worth $33,000. Finally, Darwin Wealth Management LLC bought a new position in Stryker during the third quarter worth $36,000. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SYK. Stifel Nicolaus raised their target price on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their target price on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 target price on shares of Stryker in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. raised their target price on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $422.15.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Stryker Price Performance

NYSE:SYK opened at $379.28 on Friday. The business’s 50-day moving average price is $382.45 and its 200 day moving average price is $372.78. The firm has a market cap of $144.73 billion, a P/E ratio of 48.88, a PEG ratio of 2.93 and a beta of 0.96. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the company earned $3.46 EPS. As a group, sell-side analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Monday, March 31st. Stryker’s payout ratio is currently 43.30%.

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.