U.S. Markets closed

Stryker: 1Q Earnings Snapshot

KALAMAZOO, Mich. (AP) _ Stryker Corp. (SYK) on Tuesday reported first-quarter profit of $412 million.

The Kalamazoo, Michigan-based company said it had net income of $1.09 per share. Earnings, adjusted for non-recurring costs, came to $1.88 per share.

The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.84 per share.

The medical device maker posted revenue of $3.52 billion in the period, which met Street forecasts.

For the current quarter ending in July, Stryker expects its per-share earnings to range from $1.90 to $1.95. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.95.

The company expects full-year earnings in the range of $8.05 to $8.20 per share.

Stryker shares have climbed 19 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 17 percent. In the final minutes of trading on Tuesday, shares hit $186.62, an increase of 12 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