U.S. Markets closed
  • S&P 500

    4,397.94
    -84.79 (-1.89%)
     
  • Dow 30

    34,265.37
    -450.03 (-1.30%)
     
  • Nasdaq

    13,768.92
    -385.08 (-2.72%)
     
  • Russell 2000

    1,987.92
    -36.12 (-1.78%)
     
  • Crude Oil

    84.83
    -0.72 (-0.84%)
     
  • Gold

    1,836.10
    -6.50 (-0.35%)
     
  • Silver

    24.34
    -0.37 (-1.50%)
     
  • EUR/USD

    1.1348
    +0.0031 (+0.2724%)
     
  • 10-Yr Bond

    1.7470
    -0.0860 (-4.69%)
     
  • Vix

    28.85
    +3.26 (+12.74%)
     
  • GBP/USD

    1.3555
    -0.0045 (-0.3321%)
     
  • USD/JPY

    113.6500
    -0.4500 (-0.3944%)
     
  • BTC-USD

    35,033.95
    -3,826.79 (-9.85%)
     
  • CMC Crypto 200

    870.86
    +628.18 (+258.85%)
     
  • FTSE 100

    7,494.13
    -90.88 (-1.20%)
     
  • Nikkei 225

    27,522.26
    -250.64 (-0.90%)
     

Stryker (SYK) to Report Q3 Earnings: What's in the Cards?

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • SYK
  • PODD

Stryker Corporation SYK is scheduled to release third-quarter 2021 results on Oct 28, after the closing bell. In the last reported quarter, the company delivered an earnings surprise of 6.1%.

Q3 Estimates

The Zacks Consensus Estimate for third-quarter earnings per share is pegged at $2.32, indicating an improvement of 8.4% from the year-ago quarter.

The same for revenues stands at $4.28 billion, suggesting growth of 14.5% from the prior-year quarter.

Factors to Note

Stryker’s MedSurg segment comprises surgical instruments plus endoscopic and emergency medical equipment. It has three subsegments — Endoscopy, Instruments and Medical. Rising demand for its safety related products may have contributed to the segment’s revenues in the quarter to be reported.

With respect to the Neurotechnology & Spine segment, growth in all four of the company’s neurotech businesses might have favored the segment’s to-be-reported quarter’s performance.

Growth in Mako, and strength in Knee, Hips and Trauma and Extremities sub segments are likely to have aided the Orthopaedic segment’s third-quarter performance.

Stryker Corporation Price and EPS Surprise

Stryker Corporation Price and EPS Surprise
Stryker Corporation Price and EPS Surprise

Stryker Corporation price-eps-surprise | Stryker Corporation Quote

The company continues to focus on continued expansion of Mako. This growth reflects demand for Stryker’s differentiated Mako robotic technology. This momentum continued in the second quarter of 2021 as well, with advancement in the international markets.

Stryker is committed to sustained expansion of Mako. This growth reflects demand for its differentiated Mako robotic technology. The company continues to observe that a growing percentage of both hip and knee replacement surgeries are being performed with a Mako robot, thereby raising optimism.

Hence, strength in Mako may get reflected in the third-quarter results.

However, unfavorable pricing may have weighed on Stryker’s third-quarter performance.

What Our Quantitative Model Suggests

Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here as you will see.

Earnings ESP: Stryker has an Earnings ESP of -3.13%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Stryker carries a Zacks Rank #4 (Sell).

Stocks Worth a Look

Here are some medical stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.

Insulet Corporation PODD has an Earnings ESP of +15.79% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Canopy Growth Corporation CGC has an Earnings ESP of +26.83% and a Zacks Rank of 3.

Cardiovascular Systems, Inc. CSII has an Earnings ESP of +24.59% and a Zacks Rank of 3.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Stryker Corporation (SYK) : Free Stock Analysis Report

Insulet Corporation (PODD) : Free Stock Analysis Report

Cardiovascular Systems, Inc. (CSII) : Free Stock Analysis Report

Canopy Growth Corporation (CGC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research