Stryker Stock Gets A Boost From Annual Guidance Hike On Better Than Expected Q2 Earnings: The Details
Portfolio Pulse from Vandana Singh
Stryker Corporation (NYSE:SYK) reported Q2 sales of $5 billion, up 11.2% Y/Y, beating the consensus of $4.83 billion. Organic net sales increased 11.9% in the quarter. Adjusted EPS came in at $2.54, beating the consensus of $2.38. Stryker predicts 2023 organic net sales growth of 9.5%-10.5%, up from the previous range of 8%-9%. The company now expects 2023 adjusted EPS of $10.25-$10.45 versus prior guidance of $10.05-$10.25. SYK shares are up 3.04% at $284 premarket on the last check Friday.
August 04, 2023 | 3:29 pm
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Stryker Corporation reported better than expected Q2 earnings and raised its 2023 guidance, leading to a premarket increase in its stock price.
Stryker Corporation's better than expected Q2 earnings and raised 2023 guidance indicate strong performance and positive future outlook, which are likely to boost investor confidence and drive up the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100