JMP maintains Stryker at market perform

Stryker Corp. was maintained by JMP Securities LLC analyst Robert C. Faulkner at a market perform rating. Stryker's revenue of $1.172 million narrowly missed JMP estimates of $1.18 million and consensus of $1.187 million. Earnings per share came in at $0.40, in line with JMP estimates. JMP said it believes the orthopedic reconstructive market is on a slowdown as hospitals pass pricing pressure from insurers on to orthopedic manufacturers. Due to the slowdown, the stock is likely to outperform. Shares of the Kalamazoo, Mich.-based developer and marketer of orthopedic and medical devices were down $4.23, or 9.10%, at $42.27 on volume of 11,365,400 shares versus the three-month running average of 1,928,500 shares.

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