) achieved a new 52-week high, touching $67.36 on May 9, which is
above its previous level of $67.15, and closed at $67.01 on the
same date. The closing price of this orthopedic devices giant
represented a solid one-year return of 27.7% and year-to-date
return of 20.4%.
Average volume of shares traded over the last 3 months came in at
approximately 1,562K. Currently, the stock trades at a forward
P/E of 15.96x, above its peer group P/E of 14.43x.
Impressive first-quarter 2013 results, including an earnings
surprise of 1.98% and the recent completion of the acquisition of
a leading China-based trauma manufacturing company, Trauson
Holdings, were the primary growth drivers for Stryker.
On Apr 24, Stryker reported its first-quarter earnings per share
of $1.03 beating the Zacks Consensus Estimate by 2 cents and the
year-ago earnings by 4.0%. Organic revenue growth along with cost
curtailment efforts by the company's global quality and
operations group led to the year-over-year growth.
Stryker's strong business fundamentals, well-diversified product
portfolio and expanding foothold in emerging markets through
acquisitions are expected to drive future growth. Moreover, the
company remains committed to delivering incremental return to
investors via share repurchase and dividends.
Recently, in Mar 2013, it completed the acquisition of a leading
China-based trauma manufacturing company, Trauson Holdings.
Stryker acquired this entity in an effort to strengthen its
foothold in the Chinese orthopedic market.
Stryker, with a market-cap of $25.33 billion, is one of the
world's largest medical device manufacturers operating in the
global orthopedic market. The recent stability in the domestic
recon market and turnaround of its European business should
improve results in 2013.
Stocks to Consider
Stryker carries a Zacks Rank #3 (Hold). With Stryker's shares
trading at all-time highs, any upside from here may be limited.
Other medical stocks such as
) warrant a look. While Conceptus carries a Zacks Rank #1 (Strong
Buy), the other two stocks carry a Zacks Rank #2 (Buy).
ATRICURE INC (ATRC): Free Stock Analysis
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