Medical technology company Stryker (NYSE: SYK) will be reporting earnings this Thursday afternoon. Here’s what investors should know.
Stryker met analysts’ revenue expectations last quarter, reporting revenues of $6.59 billion, up 9.4% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but organic revenue in line with analysts’ estimates.
Is Stryker a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Stryker’s revenue to grow 9.3% year on year, in line with the 10.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Stryker rarely misses Wall Street’s revenue estimates.
Looking at Stryker’s peers in the healthcare equipment and supplies segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Neogen delivered year-on-year revenue growth of 6.5%, beating analysts’ expectations by 7%, and Abbott Laboratories reported revenues up 14.5%, in line with consensus estimates. Neogen traded down 2.3% following the results while Abbott Laboratories’s stock price was unchanged.
Read our full analysis of Neogen’s results here and Abbott Laboratories’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 3.6% on average over the last month. Stryker is up 10.2% during the same time and is heading into earnings with an average analyst price target of $362.62 (compared to the current share price of $303.45).
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.
