We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Stryker (SYK) Earnings and Revenues Beat Estimates in Q3
Read MoreHide Full Article
Stryker Corp (SYK - Free Report) reported adjusted earnings of $1.52 per share in the third quarter of 2017, which comfortably beat the Zacks Consensus Estimate by 2 cents. Earnings improved from $1.39 per share in the year-ago quarter.
The company, based in Kalamazoo, MI, has maintained its streak of positive earnings surprise. Meanwhile, in the trailing four quarters, the company posted earnings beats, with an average of 1.86%. Currently, Stryker carries a Zacks Rank #3 (Hold).
The upside in earnings was primarily driven by a rise in revenues to $3.01 billion, which beat the Zacks Consensus Estimate of $2.97 billion. At constant currency (cc), net sales improved 5.8% from the year-ago quarter.
Segment Details
Orthopaedics net sales of $1.1 billion increased 5.1% year over year in the reported quarter. Excluding the 0.3% impact of acquisitions, net sales in the quarter increased 4.5% in cc, including 6.5% from increased unit volume. This was partially offset due to lower prices.
MedSurg net sales of $1.3 billion increased 6.7% in the reported quarter. Excluding the 0.6% impact of acquisitions, net sales in the quarter increased 5.6% in cc, including 5.6% increased unit volume.
Neurotechnology and Spine net sales of $0.5 billion increased 6.9% in the reported quarter. Net sales in the quarter increased 8.1% from increased unit volume. This was partially offset due to lower prices.
Guidance
For the fourth quarter of 2017, Stryker expects adjusted earnings in the range of $1.92-$1.97 per share. For full year, the company expects adjusted earnings in the band of $6.45 to $6.50. Stryker expects organic sales growth of 6.5% to 7.0% for full-year 2017.
Our Take
We believe Stryker’s innovative product pipeline will be a key catalyst in the near term. Furthermore, growing adoption of MAKO will drive sales in the orthopedic and reconstructive surgery market.
On the flip side, China might prove to be a challenging market for the company. Coming to supply-related headwinds, the company has been grappling with issues in the spine business for long. We believe that this may prove to be a major drawback in the quarters ahead. Nevertheless, Stryker’s efforts in sales force management should bode well.
Companies Reporting Solid Earnings Results
Intuitive Surgical Inc (ISRG - Free Report) posted adjusted earnings of $2.77 per share in the third quarter of 2017, beating the Zacks Consensus Estimate of $1.97 on stellar revenue growth. The stock holds a Zacks Rank #2 (Buy).
PetMed Express, Inc’s (PETS - Free Report) adjusted earnings per share of 43 cents for the second quarter of fiscal 2018 were up 79.2% from the year-ago quarter. Also, earnings surpassed the Zacks Consensus Estimate by 43.3%. The stock sports a Zacks Rank #1 (Strong Buy). ou can see the complete list of today’s Zacks #1 Rank stocks here.
Abbott (ABT - Free Report) reported third-quarter 2017 adjusted earnings from continuing operations of 66 cents per share, up 11.9% year over year. Third-quarter worldwide sales amounted $6.83 billion, up 28.8% year over year. Abbott carries a Zacks Rank #2.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
Stryker (SYK) Earnings and Revenues Beat Estimates in Q3
Stryker Corp (SYK - Free Report) reported adjusted earnings of $1.52 per share in the third quarter of 2017, which comfortably beat the Zacks Consensus Estimate by 2 cents. Earnings improved from $1.39 per share in the year-ago quarter.
The company, based in Kalamazoo, MI, has maintained its streak of positive earnings surprise. Meanwhile, in the trailing four quarters, the company posted earnings beats, with an average of 1.86%. Currently, Stryker carries a Zacks Rank #3 (Hold).
The upside in earnings was primarily driven by a rise in revenues to $3.01 billion, which beat the Zacks Consensus Estimate of $2.97 billion. At constant currency (cc), net sales improved 5.8% from the year-ago quarter.
Segment Details
Orthopaedics net sales of $1.1 billion increased 5.1% year over year in the reported quarter. Excluding the 0.3% impact of acquisitions, net sales in the quarter increased 4.5% in cc, including 6.5% from increased unit volume. This was partially offset due to lower prices.
MedSurg net sales of $1.3 billion increased 6.7% in the reported quarter. Excluding the 0.6% impact of acquisitions, net sales in the quarter increased 5.6% in cc, including 5.6% increased unit volume.
Neurotechnology and Spine net sales of $0.5 billion increased 6.9% in the reported quarter. Net sales in the quarter increased 8.1% from increased unit volume. This was partially offset due to lower prices.
Guidance
For the fourth quarter of 2017, Stryker expects adjusted earnings in the range of $1.92-$1.97 per share. For full year, the company expects adjusted earnings in the band of $6.45 to $6.50. Stryker expects organic sales growth of 6.5% to 7.0% for full-year 2017.
Our Take
We believe Stryker’s innovative product pipeline will be a key catalyst in the near term. Furthermore, growing adoption of MAKO will drive sales in the orthopedic and reconstructive surgery market.
On the flip side, China might prove to be a challenging market for the company. Coming to supply-related headwinds, the company has been grappling with issues in the spine business for long. We believe that this may prove to be a major drawback in the quarters ahead. Nevertheless, Stryker’s efforts in sales force management should bode well.
Companies Reporting Solid Earnings Results
Intuitive Surgical Inc (ISRG - Free Report) posted adjusted earnings of $2.77 per share in the third quarter of 2017, beating the Zacks Consensus Estimate of $1.97 on stellar revenue growth. The stock holds a Zacks Rank #2 (Buy).
PetMed Express, Inc’s (PETS - Free Report) adjusted earnings per share of 43 cents for the second quarter of fiscal 2018 were up 79.2% from the year-ago quarter. Also, earnings surpassed the Zacks Consensus Estimate by 43.3%. The stock sports a Zacks Rank #1 (Strong Buy). ou can see the complete list of today’s Zacks #1 Rank stocks here.
Abbott (ABT - Free Report) reported third-quarter 2017 adjusted earnings from continuing operations of 66 cents per share, up 11.9% year over year. Third-quarter worldwide sales amounted $6.83 billion, up 28.8% year over year. Abbott carries a Zacks Rank #2.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>