Stryker posts Q3 beat

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StrykerStryker (NYSE:SYK)  today released 3rd quarter earnings that beat the Street in both earnings per share and revenue.

The Kalamazoo, Mich.-based company posted profits of $434 million, or $1.14 per share, on sales of $3 billion for the 3 months ended September 30, seeing the bottom-line grow 22.3% while sales grew 6.1% compared with the same period last year.

Adjusted to exclude 1-time items, earnings per share were $1.52, ahead of the $1.50 consensus on Wall Street, where analysts were expecting to see sales of $2.97 billion.

“We delivered strong growth despite headwinds related to Sage products and hurricanes, which is reflected in our revised sales and earnings outlook. Our teams continue to execute well, and we are also pleased to have closed on the Novadaq acquisition in the quarter,” chair & CEO Kevin Lobo said in a prepared statement.

Stryker updated its guidance for the fiscal year, expecting to see earnings per share between $1.92 and $1.97.

The company had a steady day of trading, closing down 0.8% at $149.02.

Earlier this week, Stryker acquired a majority stake in Vexim for roughly $216 million and plans to buy the rest of the French spinal implant maker today.

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