Although it posted healthy sales and profit growth last year, Stryker Corp. (NYSE:SYK) was a penny shy of analysts’ forecasts for adjusted earnings per share, which usually sends investors into a selling spree.
But the Kalamazoo, Mich.-based device maker bucked the trend, as Wall Street sent SYK shares up 3.8%, to $54.94, in early-afternoon trading as of about 2 p.m. today.
Stryker posted $8.31 billion in sales for 2011, 13.5% more than the $7.32 billion it brought in during 2010.