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Home » Stryker beats The Street with Q2 results

Stryker beats The Street with Q2 results

July 25, 2019 By Chris Newmarker

StrykerStryker (NYSE:SYK) posted second-quarter results this evening that beat the consensus forecast on Wall Street — and further boosted its earnings guidance for the year. 

The Kalamazoo, Mich.–based orthopedic device giant reported profits of $480 million, or $1.26 per share, on sales of $3.65 billion for the three months ended June, for a bottom-line gain of 6.2% sales growth of 9.9% compared with Q2 2018.

Adjusted to exclude one-time items, earnings per share were $1.98, 4¢ ahead of The Street, where analysts were looking for sales of $3.6 billion.

“The durability of our growth is evidenced by continued strength across our businesses and regions, as well as our revised full-year outlook,” CEO Kevin A. Lobo said in a news release.

Stryker said it expects to log adjusted EPS in the range of $8.15 to $8.25 this year, up from a prior guidance range of $8.05 to $8.20.

Investors reacted by sending SYK shares up 1.3%, to $215 per share, in the first 10 minutes of after-hours trading.

Filed Under: Business/Financial News, Featured, News Well, Orthopedics, Wall Street Beat Tagged With: Stryker

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About Chris Newmarker

Chris Newmarker is the executive editor of WTWH Media life science's news websites and publications including MassDevice, Medical Design & Outsourcing and more. A professional journalist of 18 years, he is a veteran of UBM (now Informa) and The Associated Press whose career has taken him from Ohio to Virginia, New Jersey and, most recently, Minnesota. He’s covered a wide variety of subjects, but his focus over the past decade has been business and technology. He holds bachelor’s degrees in journalism and political science from Ohio State University. Connect with him on LinkedIn or email at [email protected].

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