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Stryker : beats 4Q profit forecasts 01/24/2017 | 04:18pm EST
KALAMAZOO, Mich. (AP) _ Stryker Corp. (SYK) on Tuesday reported fourth-quarter profit of $510 million. The Kalamazoo, Michigan-based company said it had net income of $1.34 per share. Earnings, adjusted for amortization costs and non-recurring costs, came to $1.78 per share. The results beat Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.76 per share. The medical device maker posted revenue of $3.16 billion in the period, matching Street forecasts. For the year, the company reported profit of $1.65 billion, or $4.35 per share. Revenue was reported as $11.33 billion. For the current quarter ending in April, Stryker expects its per-share earnings to range from $1.40 to $1.45. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.43. The company expects full-year earnings in the range of $6.35 to $6.45 per share. Stryker shares have risen slightly more than 1 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 2 percent. In the final minutes of trading on Tuesday, shares hit $121.50, a rise of 29 percent in the last 12 months. This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SYK at https://www.zacks.com/ap/SYK Keywords: Stryker, Earnings Report Automated Insights, source Associated Press News |