Stryker Corporation to Overhaul EU Biz and Focus on Emerging Markets
Published: Jan 10, 2013
Medical device giant Stryker is looking to boost its non-U.S. sales figures with an overhaul of its European business and a growing focus on emerging markets. Medical device company Stryker (NYSE:SYK) will put a renewed focus on efforts to boost sales in markets outside of the U.S., president & CEO Kevin Lobo told an audience at the J.P. Morgan Healthcare Conference in San Francisco Wednesday. Those efforts include an overhaul of Stryker's European business and a growing push in emerging markets, Lobo said. The company got some Wall Street love Wednesday upon releasing its preliminary full year results, predicting per-share earnings of about $4.05-$4.07 on sales of $8.7 billion, a 4.2% increase in revenues over 2011. Stryker also projected 2013 adjusted EPS in the range of $4.25-$4.40, expecting to take a $100 million hit due to the impact of the medical device tax that took effect at the start of the year.