C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases Shares of 5,293 Stryker Co. (NYSE:SYK)

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

A number of other hedge funds also recently bought and sold shares of the stock. Dunhill Financial LLC raised its position in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Stryker during the 3rd quarter worth about $36,000. Activest Wealth Management acquired a new stake in shares of Stryker during the 4th quarter worth about $36,000. Crews Bank & Trust acquired a new stake in shares of Stryker during the 4th quarter worth about $39,000. Finally, Hara Capital LLC acquired a new stake in shares of Stryker during the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of several research analyst reports. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Wells Fargo & Company raised their price target on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Needham & Company LLC restated a “buy” rating and set a $442.00 price target on shares of Stryker in a research note on Wednesday, January 29th. Stifel Nicolaus raised their price target on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. raised their price target on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $420.68.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 5.50% of the stock is currently owned by insiders.

Stryker Stock Up 0.1 %

SYK opened at $385.44 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The business has a 50 day simple moving average of $377.44 and a 200-day simple moving average of $367.94. The stock has a market capitalization of $147.08 billion, a P/E ratio of 49.67, a P/E/G ratio of 2.90 and a beta of 0.96. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS 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 previous year, the company posted $3.46 earnings per share. On average, equities analysts anticipate that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.87%. Stryker’s dividend payout ratio is presently 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.