Medical technology company Stryker (NYSE: SYK) will be reporting results this Thursday afternoon. Here’s what investors should know.
Stryker beat analysts’ revenue expectations by 1.6% last quarter, reporting revenues of $6.02 billion, up 11.1% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ organic revenue estimates and a decent beat of analysts’ revenue estimates.
Is Stryker a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Stryker’s revenue to grow 9.7% year on year to $6.03 billion, slowing from the 11.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.13 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Stryker has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 2.1% on average.
Looking at Stryker’s peers in the medical devices & supplies - diversified segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Neogen’s revenues decreased 3.6% year on year, beating analysts’ expectations by 2.6%, and Boston Scientific reported revenues up 20.3%, topping estimates by 1.9%. Neogen traded up 3.7% following the results while Boston Scientific was also up 2.5%.
Read our full analysis of Neogen’s results here and Boston Scientific’s results here.
There has been positive sentiment among investors in the medical devices & supplies - diversified segment, with share prices up 6.1% on average over the last month. Stryker is up 1.6% during the same time and is heading into earnings with an average analyst price target of $429.37 (compared to the current share price of $375.76).
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