Volatile stock to watch: Stryker Corporation (NYSE: SYK)

Free $100 Forex No-Deposit Bonus

Stryker Corporation (NYSE: SYK) stock lost over 1.9% on 30th October, 2019 (as of 12:23 pm GMT-4; Source: Google finance) post third quarter of FY 19 output. Organic net sales grew 8.6% in the third quarter, that includes 9.3% from increased unit volume partially offset by 0.7% from lower prices. The pricing in the third quarter was unfavorable 0.7% from the prior year, while foreign currency had an unfavorable 0.9% impact on sales. International sales grew on the back of emerging markets, Europe, Japan and Canada.

In the third quarter, the company had sold 51 Mako robots globally with 42 in the US. By comparison in the comparable quarter a year ago, the company had installed a total of 37 robot, of which 26 were in the US. Globally, the company’s installed base of robots is approaching 800, with well over 600 in the US. the company has  also launched Mako into Japan with four robots sold in the third quarter. The company had also put the first Mako Total Knee, which was approved in Q3 in Japan. At US, in Q3, Mako Total Knee procedures had approximated 18,000, which had increased roughly 60% from the prior-year quarter, while total Mako procedures approximated 27,000. Beyond the knee indication, the company also sees strong demand for Mako hips 40% year-over-year growth.

During the fourth quarter, the company had acquired Mobius Imaging, which is a leader in point-of-care imaging technology along with its sister company Cardan Robotics for an all-cash transaction for $370 million upfront and up to $130 million of contingent payments tied to development and commercial milestones. After this deal Stryker Spine gets the immediate entry into the intra-operative Imaging segment as well as aligning with Stryker’s implant and navigation offering.

SYK in the third quarter of FY 19 has reported the adjusted earnings per share of $1.91, while adjusted revenue growth of 10.6 percent to $3.59 billion in the third quarter of FY 19. For FY 19, the company expects net sales growth to be toward the higher end of the previously guided range of 7.5% to 8.0% and expect adjusted net earnings per diluted share to be in the range of $8.20 to $8.25. For the fourth quarter 2019, the company expect adjusted net earnings per diluted share to be in the range of $2.43 to $2.48.

Copyright © 2020. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.