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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Stryker Corp | NYSE:SYK | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 2.37 | 0.73% | 329.00 | 331.7625 | 326.701 | 328.65 | 1,588,817 | 01:00:00 |
From May 2021 to May 2024
By Kimberly Chin
Stryker Corp.'s profit fell in the third quarter as expenses rose but the company posted higher sales due to continued strong demand.
The medical-technology company's profit was $438 million, lower than the $621 million reported in the year-earlier period. Earnings were $1.14 a share, compared with $1.63 a share a year earlier. Adjusted profit was $2.20 a share.
Net sales rose to $4.16 billion from $3.74 billion in the comparable period a year ago.
Stryker's total operating expenses rose close to 30% to $2.07 billion.
The company said it had a $105 million impairment charge related to intangible assets from price cuts on its trauma and joint replacement products in China.
The recent resurgence of Covid-19 cases has led to the postponement of some deferrable medical procedures, and has mainly affected its U.S. implant related businesses, Stryker said.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
October 28, 2021 16:50 ET (20:50 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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