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How Did Stryker’s Stock Perform after Its 3Q Earnings Release?

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Nov. 1 2016, Updated 12:04 p.m. ET

Stock performance

Stryker (SYK) was trading at $114.30 on October 28, 2016, with a 50-day moving average of $114.70 and a 200-day moving average of $114.60. That day, Stryker’s stock was trading ~31.8% above its 52-week low of $86.70 on January 11, 2016, and ~7.4% below its 52-week high of $123.5 on July 15, 2016. However, the company’s share price has corrected ~6% since the release of its 2Q16 earnings on July 21, 2016.

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Stryker’s stock price fell ~3% after the release of its 3Q16 results on October 27, 2016. However, the company’s revenues and earnings exceeded analysts’ estimates, driven by strategic acquisitions and new product launches. The company reaffirmed its revenue guidance and raised the lower limit of its EPS guidance for 2016.

As of October 31, 2016, peers Thermo Fisher Scientific (TMO), Becton Dickinson (BDX), and Abbott Laboratories (ABT) have generated returns of 21.8%, 15%, and -12.3%, respectively, during the past 12 months.

Comparisons with industry and market performances

Stryker has risen ~16.2% in the past 12 months. The company’s stock has outperformed the market as represented by the S&P 500 Index, which returned ~2.8% during the same period.

Stryker’s stock performance can also be compared to the US healthcare sector performance, which is represented by the Health Care Select Sector SPDR ETF (XLV). XLV has fallen by more than 5% during the past 12 months. Stryker returned ~22% on a year-to-date basis in comparison to the 3.2% and -7% returns generated by the market and the Health Care Select Sector SPDR ETF, respectively.

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