PNC Financial Services Group Inc. Reduces Stake in Stryker Co. (NYSE:SYK)

PNC Financial Services Group Inc. decreased its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,019,614 shares of the medical technology company's stock after selling 29,481 shares during the period. PNC Financial Services Group Inc. owned approximately 0.27% of Stryker worth $367,112,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SYK. J. W. Coons Advisors LLC lifted its stake in Stryker by 0.7% during the fourth quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company's stock worth $1,315,000 after purchasing an additional 26 shares during the last quarter. Opal Wealth Advisors LLC lifted its stake in Stryker by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company's stock worth $654,000 after purchasing an additional 28 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Stryker by 2.0% during the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock worth $507,000 after purchasing an additional 28 shares during the last quarter. Alhambra Investment Management LLC lifted its stake in Stryker by 1.5% during the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company's stock worth $719,000 after purchasing an additional 29 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in shares of Stryker by 4.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 687 shares of the medical technology company's stock worth $247,000 after buying an additional 29 shares during the period. Institutional investors own 77.09% of the company's stock.

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Stryker Stock Down 0.8 %

Shares of Stryker stock traded down $3.03 during midday trading on Friday, hitting $379.28. The company had a trading volume of 1,961,830 shares, compared to its average volume of 1,209,637. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The stock has a market capitalization of $144.73 billion, a P/E ratio of 48.88, a P/E/G ratio of 2.93 and a beta of 0.95. The company has a 50 day moving average of $382.45 and a 200 day moving average of $372.99. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $3.46 EPS. On average, equities analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Insider Buying and Selling at Stryker

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

Analyst Upgrades and Downgrades

SYK has been the topic of several analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Wednesday, January 29th. Barclays lifted their price objective on Stryker from $418.00 to $443.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Citigroup reiterated a "buy" rating and issued a $450.00 price objective on shares of Stryker in a report on Wednesday, February 26th. StockNews.com downgraded Stryker from a "buy" rating to a "hold" rating in a report on Thursday. Finally, Morgan Stanley upgraded Stryker from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $422.15.

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.