Stryker (NYSE:SYK) posted fourth-quarter results that beat the consensus forecast on Wall Street, with continued momentum around the sale of its popular Mako robot-assisted ortho surgery systems.
The Kalamazoo, Mich.-based company reported profits of $725 million, or $1.90 per share, on sales of $4.1 billion for the three months ended Dec. 31, 2019, for a bottom like loss of -64.9% sales growth of 8.8% compared with Q4 2018.
Adjusted to exclude one-time items, earnings per share were $2.49, 3¢ ahead of The Street, where analysts were looking for sales of $3.9 billion.
“We had an excellent finish to 2019, achieving 8.1% full-year organic grown and 13% adjusted EPS gains. This marks our seventh consecutive year of accelerating organic sales growth and is a testament to our talent, culture and durable operating model,” CEO Kevin Lobo said in a news release. “The performance was balanced across businesses and geographies and positions us well for continued success.”
Stryker during Q4 sold 89 Mako robots, up 65% from the same quarter a year before, Katherine Owen, Stryker’s VP of strategy and investor relations, said during an earnings call yesterday. The company now has 860 Mako robots installed around the world — with nearly 700 in the U.S.
Stryker expects organic sales growth for 2020 to be in the range of 6.5% to 7.5%
Shares in SYK were down -1.44% to $211.12 apiece in mid-morning trading.
