Stryker (SYK - Free Report) reported $5.24 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 9.7%. EPS of $2.50 for the same period compares to $2.14 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.05 billion, representing a surprise of +3.74%. The company delivered an EPS surprise of +6.38%, with the consensus EPS estimate being $2.35.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Stryker performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales by Geography- International: $1.33 billion compared to the $1.32 billion average estimate based on four analysts. The reported number represents a change of +5% year over year.
- Net Sales by Geography- United States: $3.91 billion versus $3.76 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +11.5% change.
- Net Sales by Business- Orthopaedics and Spine: $2.24 billion compared to the $2.17 billion average estimate based on eight analysts. The reported number represents a change of +7.5% year over year.
- Net Sales by Business- MedSurg and Neurotechnology: $3 billion compared to the $2.87 billion average estimate based on eight analysts. The reported number represents a change of +11.5% year over year.
- Net Sales by Business- Orthopaedics and Spine- Knees: $588 million versus $588.84 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +3.9% change.
- Net Sales by Business- Orthopaedics and Spine- Spine: $300 million versus $291.58 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +5.6% change.
- Net Sales by Business- Orthopaedics and Spine- Hips: $393 million versus the six-analyst average estimate of $389.41 million. The reported number represents a year-over-year change of +4.8%.
- Net Sales by Business- Orthopaedics and Spine- Other: $133 million versus $101.04 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +41.5% change.
- Net Sales by Business- Orthopaedics and Spine- Trauma and Extremities: $830 million versus the six-analyst average estimate of $816.39 million. The reported number represents a year-over-year change of +7.9%.
- Net Sales by Business- MedSurg and Neurotechnology- Instruments: $667 million versus the six-analyst average estimate of $629.09 million. The reported number represents a year-over-year change of +16%.
- Net Sales by Business- MedSurg and Neurotechnology- Endoscopy: $778 million compared to the $752.42 million average estimate based on six analysts. The reported number represents a change of +11.5% year over year.
- Net Sales by Business- MedSurg and Neurotechnology- Medical: $864 million versus $844.84 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +11.1% change.
View all Key Company Metrics for Stryker here>>>Shares of Stryker have returned -4.5% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Stryker (SYK - Free Report) reported $5.24 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 9.7%. EPS of $2.50 for the same period compares to $2.14 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.05 billion, representing a surprise of +3.74%. The company delivered an EPS surprise of +6.38%, with the consensus EPS estimate being $2.35.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Stryker performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales by Geography- International: $1.33 billion compared to the $1.32 billion average estimate based on four analysts. The reported number represents a change of +5% year over year.
- Net Sales by Geography- United States: $3.91 billion versus $3.76 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +11.5% change.
- Net Sales by Business- Orthopaedics and Spine: $2.24 billion compared to the $2.17 billion average estimate based on eight analysts. The reported number represents a change of +7.5% year over year.
- Net Sales by Business- MedSurg and Neurotechnology: $3 billion compared to the $2.87 billion average estimate based on eight analysts. The reported number represents a change of +11.5% year over year.
- Net Sales by Business- Orthopaedics and Spine- Knees: $588 million versus $588.84 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +3.9% change.
- Net Sales by Business- Orthopaedics and Spine- Spine: $300 million versus $291.58 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +5.6% change.
- Net Sales by Business- Orthopaedics and Spine- Hips: $393 million versus the six-analyst average estimate of $389.41 million. The reported number represents a year-over-year change of +4.8%.
- Net Sales by Business- Orthopaedics and Spine- Other: $133 million versus $101.04 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +41.5% change.
- Net Sales by Business- Orthopaedics and Spine- Trauma and Extremities: $830 million versus the six-analyst average estimate of $816.39 million. The reported number represents a year-over-year change of +7.9%.
- Net Sales by Business- MedSurg and Neurotechnology- Instruments: $667 million versus the six-analyst average estimate of $629.09 million. The reported number represents a year-over-year change of +16%.
- Net Sales by Business- MedSurg and Neurotechnology- Endoscopy: $778 million compared to the $752.42 million average estimate based on six analysts. The reported number represents a change of +11.5% year over year.
- Net Sales by Business- MedSurg and Neurotechnology- Medical: $864 million versus $844.84 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +11.1% change.
View all Key Company Metrics for Stryker here>>>Shares of Stryker have returned -4.5% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Get the latest research report on SYK - FREE