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Michigan-based medical technology firm, Stryker (NYSE:), is expected to release its third-quarter results after the market closes today. FactSet predicts a net income of $826.3 million, an increase from last year’s $816 million. Sales are projected to reach $4.87 billion, up from $4.48 billion, while adjusted earnings per share (EPS) are forecast at $2.43, factoring in one-time deductions.
Investors are particularly interested in the continuation of positive procedural trends reported after the second quarter results, which boosted sales outlook. The direction of the orthopedic market is an important factor to watch due to the consistent revenue growth in Stryker’s orthopedic segment throughout the pandemic.
Despite Stryker’s typically conservative guidance, a strong third-quarter performance could potentially lead to a third outlook upgrade in 2021. This comes as the company continues to demonstrate resilience amid challenging market conditions, largely attributed to its robust orthopedic segment.
InvestingPro Insights
As Stryker gears up to release its third-quarter results, there are a few key metrics and insights from InvestingPro that can provide a more nuanced perspective.
Stryker’s revenue growth has been accelerating, a testament to its robust performance in the Healthcare Equipment and supplies industry. This aligns with the positive procedural trends reported earlier, which has significantly boosted its sales outlook. The company also consistently increases its earnings per share, a trend that is expected to continue with the upcoming results.
InvestingPro data shows that Stryker has a market cap of 106.05B USD and a P/E ratio of 39.08 as of Q2 2023. Its revenue for the last twelve months as of Q2 2023 stands at 19.45B USD, marking a growth of 10.36%. Furthermore, the company has maintained a healthy gross profit margin of 63.08% during the same period.
InvestingPro Tips also indicate that Stryker has been a reliable choice for dividend investors, having raised its dividend for 13 consecutive years. This consistency, combined with a moderate level of debt, makes it a promising player in the market.
In summary, these InvestingPro insights provide a comprehensive view of Stryker’s financial health and prospects. For more detailed metrics and tips, consider exploring the InvestingPro platform, which offers a total of 17 additional tips for Stryker.
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