Stryker (NYSE:SYK) yesterday raised its outlook for the rest of the year after reporting second-quarter earnings that beat expectations on Wall Street.
The Kalamazoo, Mich.-based medical device company posted profits of $391 million, or $1.03 per share, on sales of $3.01 billion for the three months ended June 30, for a bottom-line gain of 2.9% on sales growth of 6.1% compared with Q2 2016.
Adjusted to exclude one-time items, earnings per share were $1.53, 2¢ ahead of the consensus on the Street.
“Our growth momentum continued in the second quarter as we continue to drive share gains through new products and strong commercial execution,” chairman & CEO Kevin Lobo said in prepared remarks. “We are raising our full-year guidance for both organic sales growth and EPS, which reflects our expectations for continued strong performance throughout the year.”
Stryker said it now expects to post adjusted 2017 EPS of $6.45 to $6.55, up from prior guidance for $6.35 to $6.45. Full-year organic sales growth is pegged at 6.5% to 7.0%, up from 5.5% to 6.5% previously.
SYK shares closed down -1.2% at $144.05 apiece yesterday and were up 0.6% to $145 even in pre-market trading today.
The post Stryker’s Q2 earnings beat prompts raised outlook appeared first on MassDevice.
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