According to a research report published by Wunderlich Securities today, Stryker (NYSE: SYK) formally reported its Q411 results last night, coming in consistent with the recently pre-announced range.
“There were no major surprises versus the pre-announcement, with Q4 results of $1.02 per share increasing 10%, coming in $0.01 below our recently adjusted estimate (but in line with our original $1.02 estimate). The company also reiterated the recently provided 2012 guidance, which we continue to view as conservative, but reflective of the considerable uncertainties companies face globally in 2012 and the continued weakness in the orthopedic market. Stryker remains our favorite name in the Orthopedic sector and our favorite large cap idea for 2012,” Wunderlich Securities said in the report.
Wunderlich Securities reiterates its Buy rating and $66 PT on Stryker, which closed yesterday at $52.94.