Stryker to Report Q2 Earnings: What’s in the Cards?
Stryker Corporation (NYSE: SYK) is scheduled to release second-quarter 2024 results on Jul 30, after market close. In the last reported quarter, the company delivered an earnings surprise of 6.38%.
Q2 Estimates
The Zacks Consensus Estimate for earnings is pegged at $2.79 per share, indicating an increase of 9.8% year over year.
The consensus mark for revenues is pinned at $5.41 billion, implying growth of 8.2% from the prior-year quarter’s reported figure.
Factors to Note
Stryker’s MedSurg and Neurotechnology segment witnessed substantial sales growth on the back of the robust performance of its subsegments in the past two quarters. Strong performances in the United States, Canada, Australia, Europe, Japan and most emerging markets also boosted revenues. This trend is likely to have continued in the second quarter.
Growth across Orthopaedics & Spine’s Hip, Knee, and Trauma and Extremities subsegments might have favored the segment’s performance on the back of continued procedural growth, strong uptake of the Insignia Hip Stem and robust Mako sales.
Stryker is committed to the sustained expansion of Mako, reflecting robust demand for this differentiated robotic technology. This heightened demand, along with rising installations, is likely to have contributed to the Orthopaedics & Spine segment’s performance in the soon-to-be-reported quarter. Moreover, an improving hospital budget is likely to have kept the order book strong.
SYK witnessed a very strong momentum for its 1788 …
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