Stryker (SYK) reported $5 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 11.2%. EPS of $2.54 for the same period compares to $2.25 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $4.83 billion, representing a surprise of +3.42%. The company delivered an EPS surprise of +6.72%, with the consensus EPS estimate being $2.38.
While investors closely watch year-over-year changes in headline numbers — revenue and earnings — and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company’s underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock’s price performance.
Here is how Stryker performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- Orthopaedics and Spine- Knees- United States: $406 million compared to the $409.39 million average estimate based on three analysts. The reported number represents a change of +10.3% year over year.
- Net Sales- Orthopaedics and Spine- Hips- United States: $249 million versus the three-analyst average estimate of $239.49 million. The reported number represents a year-over-year change of +8.3%.
- Net Sales- Orthopaedics and Spine- Spine- International: $75 million versus the three-analyst average estimate of $84.44 million.
- Net Sales- Orthopaedics and Spine- International: $616 million compared to the $604.25 million average estimate based on three analysts. The reported number represents a change of +9.6% year over year.
- Net Sales- Orthopaedics and Spine: $2.14 billion versus $2.09 billion estimated by eight analysts on average.
- Net Sales- MedSurg and Neurotechnology: $2.86 billion versus the seven-analyst average estimate of $2.75 billion.
- Net Sales- Orthopaedics and Spine- Knees: $562 million compared to the $550.94 million average estimate based on six analysts. The reported number represents a change of +12.4% year over year.
- Net Sales- Orthopaedics and Spine- Trauma and Extremities: $766 million compared to the $746.29 million average estimate based on six analysts. The reported number represents a change of +13.3% year over year.
- Net Sales- Other Orthopaedics and Spine- Total: $119 million compared to the $112.23 million average estimate based on six analysts. The reported number represents a change of +4.4% year over year.
- Net Sales- Orthopaedics and Spine- Hips: $393 million compared to the $393.87 million average estimate based on six analysts. The reported number represents a change of +8% year over year.
- Net Sales- MedSurg and Neurotechnology- Instruments: $630 million compared to the $602.51 million average estimate based on five analysts. The reported number represents a change of +11.9% year over year.
- Net Sales- MedSurg and Neurotechnology- Medical: $841 million compared to the $763.17 million average estimate based on five analysts. The reported number represents a change of +26.3% year over year.
View all Key Company Metrics for Stryker here>>>
Shares of Stryker have returned -6.8% over the past month versus the Zacks S&P 500 composite’s +1.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Free Report: Top EV Battery Stocks to Buy Now
Just-released report reveals 5 stocks to profit as millions of EV batteries are made. Elon Musk tweeted that lithium prices have gone to “insane levels,” and they’re likely to keep climbing. As a result, a handful of lithium battery stocks are set to skyrocket. Access this report to discover which battery stocks to buy and which to avoid.
Stryker Corporation (SYK) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Image and article originally from www.nasdaq.com. Read the original article here.