Update: Corrected analyst expectations from $13.3 billion to $12.4 billion for the full year 2017.
Stryker (NYSE:SYK) shares fell slightly today after it announced preliminary fourth quarter and full year 2017 sales results, meeting quarterly and yearly sales expectations and 2017 EPS expectations on The Street.
The Kalamazoo, Mich.-based company said it expects to post net sales of $3.5 billion for its fourth quarter and $12.4 billion for the full year, with increases of 10% and 9.9% respectively. The quarterly numbers beat the Wall Street consensus of $3.4 billion, while 2017 sales were in line with the $12.4 billion expected by The Street.
Earnings per share for the full year are expected to be between $6.45 and $6.50, Stryker said, just in line with the $6.47 expectations on Wall Street.
“We continued our momentum with strong organic sales growth of 8% for the fourth quarter and 7% for the full year. I would like to thank our teams for delivering these results, which were well balanced across businesses and geographies. We are also driving innovation through R&D and acquisitions that will fuel future growth. These investments will enable us to deliver sales growth at the high end of med tech and leveraged earning gains,” CEO Kevin Lobo said in an SEC filing.
Stryker said it expects to see a modest headwind in 2017 due to US tax reform, and that it will provide earnings guidance on January 30.
Shares in the company are currently down 1.65%, at $160.57 as of 11:06 a.m. EST.
Last month, Stryker said it completed a simplified public tender offer for French spinal implant maker Vexim, giving the company a 92.2% stake of its share capital and 91.6% of its voting rights.
