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Medical device maker Stryker Corporation ( SYK ) on Thursday posted lower-than-expected third quarter earnings results and lowered its full-year outlook, citing weakness in Europe and negative currency effects.

The Kalamazoo, MI-based company reported third quarter net income of $353 million, or 92 cents per share, compared with $327 million, or 84 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 97 cents per share.

Revenue was flat from last year at $2.1 billion.

On average, Wall Street analysts expected a higher profit of 98 cents per share, on matching revenue of $2.1 billion.

Looking ahead, SYK lowered its full-year 2012 earnings outlook to a range of $4.04 to $4.07 per share. For 2013, Stryker forecast earnings of $4.25 to $4.40, which would miss Wall Street's view of $4.45 per share.

Stryker shares fell 50 cents, or -1%, in morning trading Thursday.

The Bottom Line
Shares of Stryker ( SYK ) have a 1.61% dividend yield, based on last night's closing stock price of $52.82. The stock has technical support in the $48-$50 price area. If the shares can firm up, we see overhead resistance around the $54-$57 price levels.

Stryker Corporation ( SYK ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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