Stryker Stock Gains On Q4 Earnings, 2024 Outlook
Portfolio Pulse from Ryan Gustafson
Stryker Corp (NYSE:SYK) reported Q4 adjusted earnings of $3.46 per share, surpassing estimates of $3.27 and showing a 15.33% increase from the previous year. Quarterly sales reached $5.82 billion, beating estimates of $5.60 billion and marking an 11.83% increase year-over-year. The company's adjusted operating income margin improved, and it projects 2024 organic net sales growth between 7.5% and 9.0% with adjusted EPS between $11.70 and $12.00, above the $11.56 estimate. Shares rose 3.53% to $328.00 in after-hours trading.
January 30, 2024 | 10:38 pm
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Stryker Corp reported strong Q4 results with earnings and sales exceeding expectations and provided an optimistic 2024 outlook, leading to a rise in after-hours stock price.
The positive earnings report and the optimistic outlook for 2024 suggest a strong performance and financial health of the company, which typically results in a positive short-term impact on the stock price. The after-hours price movement confirms investor confidence in the company's future.
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