Stryker's preliminary Q4 net sales climb 10 percent

Stryker reported Tuesday that preliminary fourth-quarter net sales climbed 10 percent year-over-year to $3.5 billion, beating analyst expectations of $3.4 billion. Full-year sales were up 9.9 percent to $12.4 billion, falling broadly in line with analyst predictions.

CEO Kevin Lobo said the company is "driving innovation through R&D and acquisitions that will fuel future growth," adding "these investments will enable us to deliver sales growth at the high end of med tech and leveraged earning gains."

Revenue in the quarter for the MedSurg division rose 10.9 percent year-over-year to $1.6 billion, while the company recorded $1.3 billion in sales for its orthopaedic products, reflecting growth of 8.1 percent. Additionally, neurotechnology and spine sales rose by 11.5 percent versus the year-ago period to around $600 million.

Stryker added that it expects 2017 earnings per share to be toward the high end of the company's previously announced range of $6.45 per share to $6.50 per share.

Looking ahead, the company said "with respect to the US tax reform, we anticipate a modest headwind, which will be manageable within our overall financial targets." The device maker noted that it will provide 2018 sales and earnings guidance on January 30.

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