© Reuters. Stryker (SYK) Stock Rises as Q4 Numbers Beat Expectations
Stryker Corp. (NYSE jumped more than 4% in after-hours trading Tuesday after the medical technology company posted better-than-expected fourth-quarter earnings and revenue.
Specifically, Stryker reported fourth-quarter earnings per share (EPS) of $3.46, beating the consensus projection of $3.27. Revenue was $5.8 billion, up 11.8% year over year and above the $5.6 billion estimate.
The reported operating income margin for the quarter stood at 21.6%. On an adjusted basis, operating income margin increased by 60 basis points to 27.2%.
Stryker projects its 2024 organic net sales growth to be between 7.5% and 9.0%, while its adjusted net earnings per diluted share will be between $11.70 and $12.
“Based on the steady progress of our pricing actions, we would expect the price impact throughout the year to be more or less stable. “If exchange rates remain near current levels, we anticipate that sales will be slightly affected throughout the year, being more negative in the first half of the year,” the company said.
