Stryker (SYK) stock moves higher as Q4 numbers exceed expectations

Stryker Corp. (NYSE: SYK) jumped over 4% in after-hours trade Tuesday after the medical technologies company posted better-than-expected Q4 earnings and revenue.

Specifically, Stryker reported fourth-quarter earnings per share (EPS) of $3.46, beating the consensus projection of $3.27. Revenue came in at $5.8 billion, up 11.8% year-over-year, and above the estimated $5.6 billion.

The reported operating income margin for the quarter stood at 21.6%. On an adjusted basis, the operating income margin increased by 60 basis points to 27.2%.

Stryker projects that its organic net sales growth for 2024 will range between 7.5% and 9.0%, while its adjusted net earnings per diluted share to be between $11.70 and $12.00.

“Based on the steady progress of our pricing actions, we would expect the full year impact of price to be roughly flat. If foreign exchange rates hold near current levels, we anticipate sales will be modestly unfavorably impacted for the full year, being more negative in the first half of the year,” the company said.

By Vahid Karaahmetovic

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