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 purchased a new stake in Stryker Co. (NYSE:SYK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,293 shares of the medical technology company's stock, valued at approximately $1,906,000.

Other hedge funds have also recently bought and sold shares of the company. Parnassus Investments LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $762,798,000. International Assets Investment Management LLC increased its position in shares of Stryker by 66,967.5% during the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company's stock worth $308,433,000 after purchasing an additional 852,496 shares in the last quarter. RTW Investments LP acquired a new stake in shares of Stryker during the 3rd quarter worth about $143,392,000. State Street Corp increased its position in shares of Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company's stock worth $5,279,788,000 after purchasing an additional 316,404 shares in the last quarter. Finally, FMR LLC increased its position in shares of Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company's stock worth $2,639,725,000 after purchasing an additional 215,782 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SYK shares. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Tuesday. UBS Group raised their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Needham & Company LLC restated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a research report on Wednesday, January 29th. Barclays raised their price objective on shares of Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Finally, Wells Fargo & Company raised their price objective 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. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Stryker currently has an average rating of "Moderate Buy" and an average target price of $420.68.

Stryker Stock Down 1.0 %

SYK traded down $3.82 during trading on Friday, reaching $382.59. The company had a trading volume of 1,268,413 shares, compared to its average volume of 1,388,856. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The business's fifty day moving average price is $377.92 and its 200 day moving average price is $368.21. The company has a market cap of $145.99 billion, a P/E ratio of 49.30, a PEG ratio of 2.93 and a beta of 0.96.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the firm earned $3.46 EPS. Equities analysts anticipate that Stryker Co. will post 13.49 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. Stryker's payout ratio is presently 43.30%.

Insider Activity

In related news, Director Ronda E. Stryker sold 201,392 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares of the company's stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now directly owns 14,895 shares of the company's stock, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

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.