Despite Death & Profit Loss, Stryker Corporation Performance is “Solid”
Stryker Corporation reported a 13% reduction in stock value, which equates to millions of dollars, for the first quarter. Analysts comment that the reduced earnings are mostly due to the mounting number of lawsuits and increasing potential liability it faces for its recalled devices. The company produces orthopaedic devices, i.e. hip implants, and has been reporting profits north of $300 million quarterly since last year. While some were expecting the company to again report profits above $1 per share, many felt that these projections failed to appreciate the potential negative effect the company’s recent product recalls would have on...
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