C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires New Shares in Stryker Co. (NYSE:SYK)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Stryker Co. (NYSE:SYK) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,293 shares of the medical technology company’s stock, valued at approximately $1,906,000.

A number of other hedge funds have also added to or reduced their stakes in SYK. Van ECK Associates Corp boosted its position in shares of Stryker by 1.3% in the fourth quarter. Van ECK Associates Corp now owns 13,035 shares of the medical technology company’s stock valued at $4,693,000 after acquiring an additional 173 shares during the period. Avidian Wealth Enterprises LLC boosted its holdings in Stryker by 2.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 2,680 shares of the medical technology company’s stock valued at $965,000 after purchasing an additional 73 shares during the period. Great Lakes Retirement Inc. grew its position in shares of Stryker by 1.3% during the 4th quarter. Great Lakes Retirement Inc. now owns 4,748 shares of the medical technology company’s stock valued at $1,709,000 after purchasing an additional 61 shares in the last quarter. Kentucky Trust Co bought a new position in shares of Stryker in the fourth quarter worth $205,000. Finally, Gladstone Institutional Advisory LLC raised its position in shares of Stryker by 10.9% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 2,009 shares of the medical technology company’s stock worth $723,000 after buying an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on SYK shares. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Stifel Nicolaus boosted their price objective on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Barclays upped their price objective on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research report on Monday. Wells Fargo & Company lifted their target price on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Canaccord Genuity Group increased their price target on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $420.68.

Stryker Trading Down 1.3 %

NYSE SYK opened at $385.49 on Thursday. The stock has a 50-day moving average of $377.27 and a 200-day moving average of $366.01. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The firm has a market cap of $146.96 billion, a PE ratio of 49.68, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating 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 earned $3.46 earnings per share. As a group, sell-side analysts forecast that Stryker Co. will post 13.49 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Stryker Company Profile

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.