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

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

Several other large investors have also bought and sold shares of SYK. Opal Wealth Advisors LLC increased its stake in Stryker by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock worth $654,000 after acquiring an additional 28 shares during the last quarter. Capital & Planning LLC increased its holdings in shares of Stryker by 3.6% in the 4th quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after buying an additional 29 shares during the last quarter. Alhambra Investment Management LLC raised its position in shares of Stryker by 1.5% during the 4th quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock valued at $719,000 after buying an additional 29 shares in the last quarter. Concord Wealth Partners lifted its holdings in shares of Stryker by 2.2% in the 4th quarter. Concord Wealth Partners now owns 1,396 shares of the medical technology company’s stock valued at $503,000 after acquiring an additional 30 shares during the last quarter. Finally, Avestar Capital LLC grew its position in Stryker by 1.1% in the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after acquiring an additional 31 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Stock Down 1.3 %

Shares of NYSE SYK opened at $385.49 on Thursday. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The firm has a market capitalization of $146.96 billion, a price-to-earnings ratio of 49.68, a PEG ratio of 2.98 and a beta of 0.96. The stock has a 50 day moving average price of $377.27 and a 200 day moving average price of $366.01. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

Stryker (NYSE:SYK) last issued its 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 previous year, the business posted $3.46 earnings per share. Sell-side analysts expect that Stryker Co. will post 13.49 earnings per share for the current 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 issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.87%. The ex-dividend date is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SYK. Evercore ISI upped their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and set a $442.00 price target on shares of Stryker in a report on Wednesday, January 29th. Truist Financial lifted their price objective on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Finally, Citigroup raised their target price on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $420.68.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the 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 sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.90% of the company’s stock.

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.