Medical technology company Stryker (NYSE:SYK) will be reporting earnings this Thursday after the bell. Here’s what to look for.
Stryker beat analysts’ revenue expectations last quarter, reporting revenues of $7.17 billion, up 11.4% year on year. It was a satisfactory quarter for the company, with a narrow beat of analysts’ organic 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, the market is expecting Stryker’s revenue to grow 8% year on year, slowing from the 11.9% increase it recorded in the same quarter last year.
The majority of analysts covering the company have 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.
Looking at Stryker’s peers in the medical devices & supplies – diversified segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Neogen’s revenues decreased 4.4% year on year, beating analysts’ expectations by 3.4%, and Abbott Laboratories reported revenues up 7.8%, topping estimates by 1.3%. Neogen traded down 8.9% following the results while Abbott Laboratories was also down 4.7%.
Read our full analysis of Neogen’s results here and Abbott Laboratories’s results here.
There has been positive sentiment among investors in the medical devices & supplies – diversified segment, with share prices up 10.8% on average over the last month. Stryker is down 1.3% during the same time and is heading into earnings with an average analyst price target of $419.11 (compared to the current share price of $321.92).
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.
