C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $1.91 Million in Stryker Co. (NYSE:SYK)

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

Several other large investors have also made changes to their positions in the business. Atria Wealth Solutions Inc. raised its stake in shares of Stryker by 2.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 16,607 shares of the medical technology company’s stock worth $5,987,000 after buying an additional 389 shares during the period. Venturi Wealth Management LLC increased its position in shares of Stryker by 2.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,789 shares of the medical technology company’s stock worth $644,000 after purchasing an additional 42 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Stryker by 0.5% during the fourth quarter. D.A. Davidson & CO. now owns 82,574 shares of the medical technology company’s stock worth $29,731,000 after purchasing an additional 451 shares in the last quarter. Empower Advisory Group LLC increased its position in shares of Stryker by 52.3% during the fourth quarter. Empower Advisory Group LLC now owns 1,991 shares of the medical technology company’s stock worth $717,000 after purchasing an additional 684 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Stryker by 4.6% during the fourth quarter. CIBC Asset Management Inc now owns 65,857 shares of the medical technology company’s stock worth $23,712,000 after purchasing an additional 2,872 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

SYK opened at $385.44 on Wednesday. The stock’s 50-day moving average price is $377.44 and its 200 day moving average price is $367.94. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market cap of $147.08 billion, a price-to-earnings ratio of 49.67, a PEG ratio of 2.90 and a beta of 0.96.

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

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid 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%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Citigroup boosted their price target on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Evercore ISI boosted their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their target price on Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. UBS Group upped their target price on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $420.68.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated 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 sale, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.50% of the stock is owned by corporate insiders.

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.