PNC Financial Services Group Inc. Acquires 1,699 Shares of Stryker Co. (NYSE:SYK)

PNC Financial Services Group Inc. grew its holdings in shares of Stryker Co. (NYSE:SYKFree Report) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,049,095 shares of the medical technology company’s stock after purchasing an additional 1,699 shares during the period. PNC Financial Services Group Inc. owned about 0.28% of Stryker worth $378,996,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SYK. Parnassus Investments LLC bought a new stake in shares of Stryker during the 3rd quarter valued at $762,798,000. International Assets Investment Management LLC increased its stake in Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after acquiring an additional 852,496 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in Stryker by 146.9% during the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after purchasing an additional 522,817 shares during the last quarter. American Century Companies Inc. boosted its stake in Stryker by 287.6% in the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after buying an additional 375,166 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Stryker by 49.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock valued at $233,553,000 after purchasing an additional 228,139 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Stock Down 0.2 %

Shares of NYSE SYK opened at $389.40 on Tuesday. Stryker Co. has a 12-month low of $285.79 and a 12-month high of $398.20. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm has a market cap of $148.45 billion, a PE ratio of 41.74, a P/E/G ratio of 2.94 and a beta of 0.91. The company’s fifty day simple moving average is $364.61 and its 200 day simple moving average is $347.98.

Stryker (NYSE:SYKGet Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the business earned $2.46 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 17.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,381 shares of company stock worth $24,825,275 in the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SYK. Piper Sandler restated an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Needham & Company LLC increased their target price on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wolfe Research started coverage on Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Finally, Citigroup lifted their target price on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Get Our Latest Report on Stryker

Stryker Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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