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MarketScreener Homepage  >  Equities  >  Nyse  >  Stryker Corporation    SYK

STRYKER CORPORATION

(SYK)
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Stryker : FTC Says Stryker, Wright Medical Must Divest Assets as Part of Acquisition Deal

11/03/2020 | 12:02pm EST

By Stephen Nakrosis

The Federal Trade Commission on Tuesday said it will require medical device companies Stryker Corp. and Wright Medical Group N.V. to divest certain of Stryker's assets to preserve competition.

In November of last year, Stryker announced it had agreed to acquire Wright in a deal whose equity value was about $4 billion.

The FTC said the companies would be required to divest Stryker's total ankle replacements and finger joint implant products to remedy concerns the acquisition would harm competition in those markets.

"Under the proposed consent agreement, Stryker and Wright must divest all assets associated with Stryker's total ankle replacements and finger joint implants to DJO Global, allowing it to become an independent, viable, and effective competitor in these markets," the FTC said.

The FTC also said it worked with its counterparts at the U.K. Competition and Markets Authority "to analyze the proposed transaction and proposed remedy."

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

11-03-20 1202ET

Stocks mentioned in the article
ChangeLast1st jan.
STRYKER CORPORATION -1.51% 239.93 Delayed Quote.-2.09%
WRIGHT MEDICAL GROUP N.V. -2.22% 29.98 End-of-day quote.0.00%
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Financials (USD)
Sales 2020 14 416 M - -
Net income 2020 1 905 M - -
Net Debt 2020 8 728 M - -
P/E ratio 2020 47,3x
Yield 2020 0,97%
Capitalization 90 163 M 90 163 M -
EV / Sales 2020 6,86x
EV / Sales 2021 5,80x
Nbr of Employees 40 000
Free-Float 92,6%
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Technical analysis trends STRYKER CORPORATION
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 241,15 $
Last Close Price 239,93 $
Spread / Highest target 16,3%
Spread / Average Target 0,51%
Spread / Lowest Target -31,6%
EPS Revisions
Managers and Directors
NameTitle
Kevin A. Lobo Chairman & Chief Executive Officer
Timothy J. Scannell President & Chief Operating Officer
Glenn S. Boehnlein Chief Financial Officer & Vice President
Howard E. Cox Director-Emeritus
Ronda E. Stryker Independent Director
Sector and Competitors