Stryker (SYK) Tops Q2 Earnings and Revenue Estimates

Company Performance - Stryker reported quarterly earnings of $2.81 per share, exceeding the Zacks Consensus Estimate of $2.79 per share, and up from $2.54 per share a year ago [14] - The company posted revenues of $5.42 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.30% and showing a year-over-year increase from $5 billion [2] - Stryker has consistently surpassed consensus EPS estimates over the last four quarters [8] Stock Performance - Stryker shares have increased approximately 11.3% since the beginning of the year, compared to the S&P 500's gain of 14.5% [3] - The current status of estimate revisions for Stryker is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [5] Industry Outlook - The Medical - Products industry, to which Stryker belongs, is currently ranked in the top 33% of over 250 Zacks industries, suggesting a favorable outlook [6] - The company is expected to post a quarterly loss of $0.19 per share in its upcoming report, reflecting a year-over-year change of +52.5% [7] - The consensus EPS estimate for the upcoming quarter is $2.80 on revenues of $5.36 billion, and for the current fiscal year, it is $11.95 on revenues of $22.31 billion [11]