stryker corp (SYK) Key Developments
LaunchPad Medical Executes Definitive License Agreement with Stryker for Novel Bone Adhesive Technology
Jun 2 15
LaunchPad Medical, LLC announced that it has entered into a definitive agreement to license Stryker Corporation's bone adhesive technology, which is based on a unique synthetic biomaterial. Under the terms of the agreement, LaunchPad has received an exclusive worldwide license from Stryker for this technology which is covered by four issued and three pending U.S. patents and includes data from multiple pre-clinical animal studies. LaunchPad will seek to commercialize this technology for use in repairing damaged teeth and bones. No financial terms of the transaction were disclosed.
Stryker Corporation Presents at Jefferies 2015 Global Healthcare Conference, Jun-02-2015 11:00 AM
May 16 15
Stryker Corporation Presents at Jefferies 2015 Global Healthcare Conference, Jun-02-2015 11:00 AM. Venue: The Grand Hyatt Hotel, New York, New York, United States.
Stryker Corporation Presents at Bank of America Merrill Lynch 2015 Health Care Conference, May-12-2015 08:00 AM
May 5 15
Stryker Corporation Presents at Bank of America Merrill Lynch 2015 Health Care Conference, May-12-2015 08:00 AM. Venue: Encore at the Wynn, 3131 S Las Vegas Blvd, Las Vegas, Nevada, United States. Speakers: William R. Jellison, Chief Financial Officer and Vice President.
Stryker Declares Quarterly Dividend Payable on July 31, 2015
Apr 30 15
The board of directors of Stryker declared its quarterly dividend of USD 0.345 per share of its stock. Shareholders of record at the close of business as of 30 June 2015 will receive the dividend on 31 July 2015. This dividend reflects a growth of 13% from the prior year and is unchanged from the previous quarter.
Stryker Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter and Full Year 2015
Apr 21 15
Stryker Corporation announced unaudited consolidated sales results for the first quarter ended March 31, 2015. For the quarter, net sales were $2,379 million, operating income was $406 million, earnings before income taxes was $377 million and net earnings were $224 million or $0.58 per diluted share against net sales of $2,305 million, operating income of $131 million, earnings before income taxes of $107 million and net earnings of $70 million or $0.19 per diluted share for the same period a year ago. Net cash provided by operating activities was $380 million against $209 million a year ago. Purchases of property, plant and equipment was $46 million against $70 million a year ago. Borrowings of debt, net was $500 million. Reported net earnings include charges for the tax impacts related to the establishment of the European regional headquarters and other tax matters. Excluding the impact of the charges, adjusted net earnings of $424 million increased 5.0% in the quarter compared to the prior year. Adjusted diluted net earnings per share of $1.11 increased 4.7% in the quarter compared to the prior year. Net sales in the quarter grew by 7.1% due to increased unit volume and changes in product mix and 1.9% as a result of acquisitions.
The company expects 2015 constant currency sales growth in the range of 6.0% to 7.0%, including organic sales growth in the range of 5.0% to 6.0%. Based on current foreign currency exchange rates it expects adjusted diluted net earnings per share to be in the range of $1.15 to $1.20 and $4.95 to $5.10 in the second quarter and the full year, respectively. If foreign currency exchange rates hold near current levels, it expects sales in the second quarter and full year of 2015 to be negatively impacted by approximately 3.5% to 4.5% and adjusted diluted net earnings per share to be negatively impacted by approximately $0.25 to $0.30 in the full year, approximately half of which will be in the first half of the year. The company also expect that adjusted tax rate will run at or below the level achieved in the first quarter and will be noticeably better when the benefits from the tax extenders are approved. However, capital expenditures are expected to run higher than last year as the company moves through 2015. It also repatriated approximately $700 million in the first quarter and expect to do approximately an additional $1 billion later this year.