Stryker Corp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Stryker Corp (NYSE:SYK) will unveil its latest earnings on Wednesday, October 19, 2011. Stryker is a medical technology firm that produces a range of products in medical implants, surgical technologies and emergency medical equipment.

Stryker Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 89 cents per share, a rise of 11.2% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 90 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 89 cents during the last month. Analysts are projecting profit to rise by 11.4% versus last year to $3.71.

Past Earnings Performance: The company met estimates last quarter after beating the forecasts in the prior two. In the second quarter, the company reported net income of 90 cents per share versus a mean estimate of profit of 90 cents per share. In the first quarter, the company beat estimates by one cent.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 15.3% in revenue from the year-earlier quarter to $2.04 billion.

Analyst Ratings: Analysts are bullish on this stock with 21 analysts rating it as a buy, none rating it as a sell and six rating it as a hold. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.

A Look Back: In the second quarter, profit fell 3.1% to $309.1 million (79 cents a share) from $319 million (80 cents a share) the year earlier, meeting analyst expectations. Revenue rose 16.3% to $2.05 billion from $1.76 billion.

Key Stats:

Revenue has risen the past four quarters. Revenue rose 12% in the first quarter from the year earlier, climbed 8.8% in the fourth quarter of the last fiscal year from the year-ago quarter and 6.9% in the third quarter of the last fiscal year.

The company has seen net income fall in each of the last three quarters. Net income fell 4.4% in the first quarter and 3.6% in the fourth quarter of the last fiscal year.

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. (TRNX), CONMED Corporation (NASDAQ:CNMD), ArthroCare Corporation (NASDAQ:ARTC), Medtronic, Inc. (NYSE:MDT), NuVasive, Inc. (NASDAQ:NUVA), and Alphatec Holdings, Inc. (NASDAQ:ATEC).

Stock Price Performance: During July 20, 2011 to October 13, 2011, the stock price had fallen $6.52 (-11.5%) from $56.70 to $50.18. The stock price saw one of its best stretches over the last year between October 3, 2011 and October 13, 2011 when shares rose for nine-straight days, rising 10.7% (+$4.83) over that span. It saw one of its worst periods between September 15, 2011 and September 23, 2011 when shares fell for seven-straight days, falling 7% (-$3.44) over that span. Shares are down $3 (-5.6%) year to date.

(Source: Xignite Financials)

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