stryker corp (SYK) Key Developments
Stryker Eyes Acquisitions
Jan 14 15
Stryker Corporation (NYSE:SYK) is looking for acquisition opportunities in Europe. Kevin Lobo, Chief Executive Officer of Stryker, speaking at the 33rd JP Morgan Healthcare Conference in San Francisco, CA, said Stryker was in a very strong cash position that would allow it to make acquisitions that are 'small, medium or even large'.
Stryker Corporation Reports Preliminary Unaudited Consolidated Sales Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Preliminary Earnings Guidance for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the Fiscal Year 2015
Jan 13 15
Stryker Corporation reported preliminary unaudited consolidated sales results for the fourth quarter and year ended December 31, 2014. Preliminary net sales for the fourth quarter were $2.6 billion, increased 6.1%. Excluding the impact of foreign currency and acquisitions, preliminary net sales increased 5.5% in the fourth quarter. Fourth quarter results include one less selling day, which negatively impacted sales by approximately 1%.
For the full year, the company reported preliminary net sales of $9.7 billion, increased 7.3%. Excluding the impact of foreign currency and acquisitions, preliminary net sales increased 5.8% for the full year.
The company now projects preliminary 2014 adjusted diluted net earnings per share to be in the range of $4.72 to $4.74, an increase of 5.1% to 5.6% over adjusted diluted net earnings per share of $4.49 in 2013. The full year negative foreign exchange impact was approximately $0.15 per share, while the fourth quarter includes a negative impact of approximately $0.06 per share or $0.02 to $0.03 per share worse than previously disclosed during third quarter earnings call.
For the fourth quarter of 2014, the company expects diluted net earnings per share of $0.61 - $0.70. Adjusted diluted net earnings per share is expected to be $1.43 - $1.45.
Based on the current exchange rates, the company expects 2015 adjusted net earnings per diluted share to be negatively impacted by approximately $0.20 per share, which compares to prior estimate of $0.10 - $0.12 per share based on foreign exchange rates at the end of the third quarter.
Stryker Corporation Presents at 33rd Annual J.P. Morgan Healthcare Conference, Jan-14-2015 08:00 AM
Jan 8 15
Stryker Corporation Presents at 33rd Annual J.P. Morgan Healthcare Conference, Jan-14-2015 08:00 AM. Venue: Westin St. Francis Hotel, San Francisco, California, United States. Speakers: Kevin A. Lobo, Chairman.
Stryker Reportedly Plans Offer For Smith & Nephew
Dec 23 14
Stryker Corporation (NYSE:SYK) is planning a takeover offer for Smith & Nephew plc (LSE:SN.), according to people with knowledge of the matter. Stryker plans to offer a significant premium to Smith & Nephew’s current share price, with one of the people saying it could be about 30%. Stryker is not planning a tax inversion because of the limited tax benefits and political risk, said one of the people, who asked not to be identified because deliberations are private, reported Bloomberg. The bid is still being finalized and the timing could change, said the people. There’s also a chance that Stryker may decide against an offer, one of the people said. Representatives for Stryker and Smith & Nephew declined to comment, reported Bloomberg.
Osiris Therapeutics, Stryker Corporation Enter Strategic Partnership to Develop Viable Bone Matrix
Dec 22 14
Osiris Therapeutics said it has entered into an exclusive, worldwide partnership with Stryker Corporation for the commercialization and development of OSIR's viable bone matrix tissue form. The agreement provides SYK with exclusive, worldwide rights to OSIR's viable bone matrix under the name BIO4. OSRI will be responsible for the manufacturing, continued research and product improvement activities while SYK will be responsible for the commercialization and marketing of BIO4. The companies also said that to demonstrate the differentiating benefits and ensure the continued success and growth of this innovative product, they will collaborate on the design and conduct of future clinical development programs.