Stryker Corp (SYK) released its second quarter results on Wednesday, July 28, 2021. The company reported net earnings of $1.55 per share for the second quarter ending June 30, 2021. Earnings for this past quarter were up 801 percent compared to the same period a year ago.
Stryker Corporation was founded in 1941 and is headquartered in Kalamazoo, Michigan. Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine.
Stryker's revenue increased 15 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 65.95% for the second quarter compared to the same period in the previous year, and operating margins increased to 22.03% over the same period. Net earnings for past trailing twelve months were $2083.0 million, up 30% from the prior year.
Moving on to the balance sheet, Stryker's cash levels dropped 66% for the second quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 26.9% this past year. The current ratio for Stryker now stands at 2.12. The company increased shares outstanding by 0.35%.
Shares of SYK are currently trading around $268.68. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 49.17 and price to book ratio of 7.43.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Thursday, July 29, 2021.