Analysts expect higher profit for Stryker when the company reports its third quarter results on Thursday, October 16, 2014. The consensus estimate is calling for profit of $1.14 a share, reflecting a rise from 98 cents per share a year ago.
Despite not changing over the past month, the consensus estimate is down from three months ago when it was $1.16. For the fiscal year, analysts are projecting earnings of $4.76 per share. Revenue is projected to be 8% above the year-earlier total of $2.15 billion at $2.32 billion for the quarter. For the year, revenue is expected to come in at $9.63 billion.
While the company has been profitable for the last eight quarters, income has fallen year-over-year by an average of 20% over the past four quarters. The company weathered a blow in the first quarter when net income dropped 77%, marking the hardest-hit quarter.
The majority of analysts (65%) rate Stryker as a buy. This compares favorably to the analyst ratings of 10 similar companies, which average 64% buys.
Stryker is a medical technology firm that produces a range of products in medical implants, surgical technologies and emergency medical equipment. Zimmer Holdings, also in the medical equipment and supplies industry, will report earnings on Thursday, October 23, 2014. Analysts are expecting earnings of $1.30 per share for Zimmer, up 4% from last year’s earnings of $1.25 per share. Other companies in the medical equipment and supplies industry with upcoming earnings release dates include: CONMED, Exactech and Smith & Nephew.
Earnings estimates provided by Zacks.
