Stryker Fades on the Back of Its Q2 Earnings Results

Shares of Stryker SYK are bid lower in the after-hours following the release of the company's Q2 earnings results. Currently, shares are bid $58.50, at $58.54; they closed the regular session higher by 1.54%, at $59.16. Stryker said that Q2 Adjusted EPS came in at $0.90 on revenues of $2.05 billion; after charges for stepped-up inventory values, acquisition-related costs and other one-time items, per-share earnings were $0.79. Revenues increased 16% year over year, 12% on a constant currency basis. Gross margin narrowed to 65.2% from 69.3%. "Our second quarter results validate the strength of our diverse sales footprint, enabling us to deliver on our commitments despite ongoing macro-economic challenges," commented Stephen P. MacMillan, Chairman, President and Chief Executive Officer. "We are excited about our ability to leverage the breadth of our product offering through continued investments in R&D coupled with selective acquisitions, share repurchases and dividends in order to maximize shareholder value.” Stryker Corporation is a medical technology company. The company provides orthopaedic implants, as well as medical and surgical equipment. It has two segments: Orthopaedic Implants and MedSurg Equipment.