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Stryker's Q3 results dash Wall Street's hopes

Wed, 10/17/2012 - 9:53pm
Mass Device

Medical device company Stryker misses Wall Street's expectations with its 3rd-quarter results and lowers its earnings outlook for the rest of this year and 2013.

Stryker Corp.

Stryker (NYSE:SYK) just missed Wall Street's expectations with its 3rd-quarter earnings and reduced its forecast for 2012 and 2013 today, sending shares down a tad in after-hours trading.

The Kalamazoo, Mich.-based medical device company cited "weaker results from key countries outside the U.S." and softer sales for its capital equipment business.

Stryker pared its profit growth forecast for 2012 from 10% to 9% and narrowed its sales guidance for both years. The company said it expects constant-currency sales growth of 4% to 5.5% this year, compared with prior guidance of 3.5%-6.5%.

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