Stryker and Waters Shares Pop Following Earnings

Stryker Corporation (NYSE:SYK) reported its results for the fourth quarter. Net income for Stryker Corporation rose to $401 million ($1.05 per share) vs. $295 million (74 cents per share) in the same quarter a year earlier. This marks a rise of 35.9% from the year earlier quarter. Revenue rose 11% to $2.21 billion from the year earlier quarter. SYK reported adjusted net income of $1.02 per share. By that measure, the company fell in line with the mean estimate of $1.02 per share. Analysts were expecting revenue of $2.22 billion.

“Despite the challenging economic environment, our results for 2011 underscore the inherent strength afforded by our balanced diversification. We have built on the breadth of our sales footprint with the addition of several targeted acquisitions which further expand our product offering in the medical technology market,” said Stephen P. MacMillan, Chairman, President and Chief Executive Officer.

Competitors to Watch: Zimmer Holdings, Inc. (NYSE:ZMH), Exactech, Inc. (NASDAQ:EXAC), Smith & Nephew plc (NYSE:SNN), Wright Medical Group, Inc. (NASDAQ:WMGI), Tornier N.V. (NASDAQ:TRNX), CONMED Corporation (NASDAQ:CNMD), ArthroCare Corporation (NASDAQ:ARTC), Medtronic, Inc. (NYSE:MDT), NuVasive, Inc. (NASDAQ:NUVA), and Alphatec Holdings, Inc. (NASDAQ:ATEC).

Waters Corporation (NYSE:WAT) reported its results for the fourth quarter. Net income for the scientific and technical instruments company rose to $137.1 million ($1.51 per share) vs. $126.6 million ($1.36 per share) in the same quarter a year earlier. This marks a rise of 8.3% from the year earlier quarter. Revenue rose 7.8% to $521.4 million from the year earlier quarter. WAT reported adjusted net income of $1.56 per share. By that measure, the company beat the mean estimate of $1.50 per share. Analysts were expecting revenue of $517.5 million.

Douglas Berthiaume, Chairman, President and Chief Executive Officer said, “Our positive business momentum continued nicely in the fourth quarter with relatively balanced strength highlighting the results. The fourth quarter completed a very successful 2011 for Waters with double-digit revenue growth, faster earnings growth and very impressive cash generation.”

Competitors to Watch: Bruker Corporation (NASDAQ:BRKR), Dionex Corporation (NASDAQ:DNEX),  Beckman Coulter, Inc. (NYSE:BEC), PerkinElmer, Inc. (NYSE:PKI), Thermo Fisher Scientific Inc. (NYSE:TMO), Bio-Rad Laboratories, Inc. (NYSE:BIO), Harvard Bioscience, Inc. (NASDAQ:HBIO), Cepheid (NASDAQ:CPHD), and Mettler-Toledo Intl. Inc. (NYSE:MTD).

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com