Stryker Lowers Adjusted EPS Forecast
October 28 2021 - 5:18PM
Dow Jones News
By Kimberly Chin
Stryker Corp. lowered its adjusted earnings outlook for the
year, citing uncertainty over the Covid-19 pandemic and challenges
with labor and staffing in the healthcare industry "hindering an
accelerated recovery."
The medical technology company now expects adjusted earnings
between $9.08 and $9.15 a share, compared with its previous
forecast of $9.25 to $9.40 a share. This includes any expenses
associated with its Wright Medical Group NV acquisition.
The company expects net sales to increase organically by about
7% to 8% for the year compared with 2019, before the onset of the
pandemic. It had previously forecast sales growth in the range of
9% to 10% versus 2019.
Stryker's shares slid 3.9% after hours to $258.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
October 28, 2021 17:03 ET (21:03 GMT)
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