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Mon, Feb. 1, 7:45 AM
- Stryker (NYSE:SYK) acquires privately-held Cary, IL-based Sage Products, LLC for $2.775B in cash. Sage develops and commercializes disposable products used in the Intensive Care Unit (ICU) and MedSurg hospital unit settings. It posted $430M in sales last year.
- The deal includes an anticipated future tax benefit of more than $500M.
- Management will host a conference call this morning at 8:00 am ET to discuss the transaction.
Fri, Jan. 29, 12:03 PM
- Medifast (MED +1.4%) initiated with Hold rating and $32 (10% upside) price target by Wunderlich.
- Kite Pharma (KITE +4.1%) initiated with Buy rating and $70 (51% upside) price target by SunTrust Robinson Humphrey.
- STAAR Surgical (STAA +0.3%) initiated with Hold rating by Benchmark.
- Nektar Therapeutics (NKTR -2.4%) initiated with Buy rating and $21 (57% upside) price target by Janney Capital.
- BioBlast Pharma (ORPN +7.7%) initiated with Buy rating and $25 (574% upside) price target by H.C. Wainwright.
- CVS Health (CVS +1.3%) initiated with Outperform rating and $108 (14% upside) price target by Baird.
- Walgreens Boots Alliance (WBA +1.1%) initiated with Outperform rating and $96 (22% upside) price target by Baird.
- Intercept Pharma (ICPT +0.6%) upgraded to Equal Weight from Underweight by Morgan Stanley. Price target is $100 (0% upside).
- Stryker (SYK +1.8%) upgraded to Buy from Hold by Brean Capital. Price target is $115 (16% upside).
- Voyager Therapeutics (VYGR -0.7%) upgraded to Neutral from Sell by Chardan Capital. Price target lowered to $15 (50% upside) from $20.
- Bristol-Myers Squibb (BMY +1.9%) upgraded to Buy from Hold by Berenberg. Price target raised to $77 (24% upside) from $74.
- Oncomed Pharmaceuticals (OMED -0.3%) downgraded to Market Perform from Outperform by Leerink. Price target lowered to $11 (23% upside) from $27.
- Regeneron Pharmaceuticals (REGN +0.6%) downgraded to Sell from Neutral by Chardan Capital. Price target lowered to $400 (4% downside risk) from $525.
Tue, Jan. 26, 6:50 PM
- Along with earnings where it posted a higher profit that beat expectations, Stryker (NYSE:SYK) named a new chief financial officer.
- Shares are up 0.7% after hours following the earnings beat.
- Glenn Boehnlein is being promoted to the post, replacing retiring CFO William Jellison, effective April 1. Jellison has spent the last three years of a 36-year career with Stryker and will pursue getting more involved with board roles.
- Boehnlein currently serves as group CFO for MedSurg & Neurotechnology.
- Jellison will remain as CFO through the first quarter to ensure a smooth transition.
- Previously: Stryker Q4 top line up 4%, non-GAAP EPS up 8% (Jan. 26 2016)
- Previously: Stryker beats by $0.01, beats on revenue (Jan. 26 2016)
Tue, Jan. 26, 4:31 PM
- Stryker (NYSE:SYK) Q4 results ($M): Total Revenues: 2,715; Orthopedics: 1,145 (+3.2%); Medsurg: 1,087 (+3.1%); Neurotech & Spine: 483 (+6.4%).
- Net Income: 522 (+100.8%); EPS: 1.38 (+106.0%); Non-GAAP EPS: 1.56 (+8.3%); CF Ops: 670 (-0.7%).
- 2016 Guidance: Organic sales growth: 5 - 6%; Non-GAAP EPS: $5.50 - 5.70.
- Q1 Guidance: Non-GAAP EPS: $1.17 - 1.22.
Tue, Jan. 26, 4:16 PM
Mon, Jan. 25, 5:35 PM
Dec. 18, 2015, 10:31 AM
- M&A rumors are active this morning with the latest being Stryker (SYK -1%) eyeing Smith & Nephew (SNN +3.5%).
- Unsurprisingly, Merck (MRK -1.1%) continues to eye Relypsa (RLYP +0.9%).
- Previously: Relypsa up 17% on rumored Merck interest (Dec. 4)
- Update: Sources say the Stryker will pay ~$18B for SNN. A deal could be announced as early as next week.
Oct. 23, 2015, 6:59 AM
- Stryker (SYK -1.3%) Q3 results: Revenues: $2,420M (+1.3%); COGS: $796M (-4.0%); R&D Expense: $155M (+1.3%); SG&A: $887M (+1.0%); Operating Income: $378M (-16.0%); Net Income: $301M (+428.1%); EPS: $0.79 (+393.8%); Quick Assets: $3,372M (-32.6%); CF Ops: $228M (-79.3%).
- 2015 Guidance: Organic sales growth: 5.5 - 6.5% (unch); Non-GAAP EPS: $5.07 - 5.12 from $5.06 - 5.12. If forex holds at present levels, EPS and sales will be negatively impacted ~$0.25 and 4% respectively.
Oct. 22, 2015, 5:05 PM
- Stryker (NYSE:SYK): Q3 EPS of $1.25 beats by $0.02.
- Revenue of $2.42B (+1.3% Y/Y) misses by $20M.
Oct. 21, 2015, 5:35 PM
- ACTG, ALGN, ALTR, AMZN, ATHN, BAS, BCR, BJRI, BYD, CHE, COF, CYN, CYT, DV, EGHT, ETFC, FET, FII, FSL, FTNT, GHL, GIMO, GOOG, HBHC, HURN, IG, JNPR, LHO, LOGM, LSTR, MKTO, MSFT, MXIM, N, NTGR, P, PACB, PEB, PFG, QLGC, QLIK, QSII, RMD, SHOR, SIVB, SKX, SMCI, SPNC, SRCL, SWN, SYK, SYNA, T, TRN, UCTT, VRSN, WRE
Aug. 6, 2015, 3:38 PM
- The FDA clears Stryker's (SYK -1.9%) 510(k) application seeking clearance for its Mako total knee application. The approval adds to the company's Mako offering of partial knee and total hip applications and enables it to offer a comprehensive solution in its robotic reconstructive service line.
- A limited market release will commence by year end.
Jul. 23, 2015, 4:33 PM
- Stryker (NYSE:SYK): Q2 EPS of $1.20 beats by $0.03.
- Revenue of $2.43B (+3.0% Y/Y) in-line.
Jul. 23, 2015, 4:18 PM
- Stryker (NYSE:SYK) Q2 results ($M): Total Revenues: 2,432 (+2.9%); Orthopedics: 1,035 (+0.7%); Medsurg: 939 (-8.7%); Neurotech & Spine: 458 (+6.5%).
- Net Income: 392 (+82.3%); EPS: 1.03 (+83.9%); CF Ops: 357 (-2.5%).
- 2015 Guidance: Organic sales growth: 5.5 - 6.5%; Non-GAAP EPS: $5.06 - 5.12 from $4.95 - 5.10. If forex holds at present levels, EPS will be negatively impacted ~$0.25.
- Q3 Guidance: Non-GAAP EPS: $1.20 - 1.25.
Jul. 22, 2015, 12:52 PM
- Stryker (SYK -0.6%) reports tomorrow after the close. Consensus view is EPS of $1.17 (+109%) on revenues of $2.4B (+2%).
Jul. 20, 2015, 8:37 AM
- Stryker (NYSE:SYK) acquires Kayseri, Turkey-based Muka Metal A.S., a maker of hospital beds, stretchers and related patient room furniture and accessories, for an undisclosed sum. The transaction, expected to be neutral to Stryker's 2015 EPS, should close in Q3.
- Timothy Scannell, Stryker Group President, MedSurg and Neurotechnology, says, " The acquisition of Muka aligns with our strategy to expand our global presence through existing channels with an established and trusted brand. This acquisition will bolster Stryker Medical's bed and stretcher offerings and is a compelling opportunity to drive growth in Turkey and other regions around the world."
Apr. 21, 2015, 6:16 PM
- Stryker (NYSE:SYK) Q1 results ($M): Total Revenues: 2,379 (+3.2%); Net Income: 224 (+220.0%); GAAP EPS: 0.58 (+222.2%); CF Ops: 380 (+84.5%); Quick Assets: 4,263 (+5.3%).
- Sales by segment: Orthopedics: 1,023 (+2.4%), Knees: 345 (-0.9%), Hips: 312 (-1.9%), Trauma & Extremities: 313 (+8.7%); Medsurg: 927 (+4.6%), Instruments: 346 (+0.9%), Endoscopy: 321 (+2.9%), Medical: 205 (+13.3%); Neurotech & Spine: 429 (+2.1%), Neurotechnology: 252 (+3.7%), Spine: 177 (0.0%).
- Medsurg sales growth has decelerated the past three quarters: 23.6%, 16.3%, 12.1%, 4.6%.
- Q2 Guidance: Non-GAAP EPS: $1.15 - 1.20.
- 2015 Guidance: Organic sales growth: 5 - 6%; Non-GAAP EPS: $4.95 - 5.10 from $4.90 - 5.00.
- If foreign currency exchange rates remain unchanged, sales in Q2 and 2015 will be negatively impacted by 3.5 - 4.5% and non-GAAP EPS by $0.25 - 0.30, half of which will be in H1.
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