Stryker (SYK) Q2 Earnings Report Preview: What To Look For
Medical technology company Stryker (NYSE:SYK) will be reporting earnings this Thursday afternoon. Here’s what investors should know.
Stryker missed analysts’ revenue expectations last quarter, reporting revenues of $6.02 billion, up 2.6% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ EPS estimates and a significant miss of analysts’ organic revenue estimates.
Is Stryker a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Stryker’s revenue to grow 9.1% year on year, slowing from the 11.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Stryker rarely misses Wall Street’s revenue estimates.
Looking at Stryker’s peers in the healthcare equipment and supplies segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Abbott Laboratories delivered year-on-year revenue growth of 13%, beating analysts’ expectations by 0.7%, and Intuitive Surgical reported revenues up 18.5%, topping estimates by 2.5%. Abbott Laboratories traded up 12.8% following the results while Intuitive Surgical was down 14.1%.
Read our full analysis of Abbott Laboratories’s results here and Intuitive Surgical’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 4.4% on average over the last month. Stryker is up 4.6% during the same time and is heading into earnings with an average analyst price target of $387.04 (compared to the current share price of $345.71).
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