Stryker Lowers FY21 Outlook

(RTTNews) - Shares of Stryker Corp. (SYK) slipped over 3% in extended trading session on Thursday after the company lowered its full year 2021 outlook.

The company now expects full year organic net sales growth of 7% to 8% compared to 2019, and adjusted earnings of $9.08 to $9.15 per share.

Previously, the company expected organic net sales growth of 9% to 10% from 2019, and adjusted earnings of $9.25 to $9.40 per share.

Analysts currently estimate earnings of $9.30 per share for the quarter. Analysts' estimates typically exclude one-time items.

The company said it revised its outlook based on third quarter performance, the volatility experienced as a result of COVID as well as the labor and staffing environment in healthcare.

SYK closed Thursday's trading at $268.44, down $0.06 or 0.02%, on the NYSE. Post hours, the stock further slipped $8.64 or 3.22%.