Stryker is a global leader in medical technologies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in MedSurg, Neurotechnology, Orthopaedics and Spine that help improve patient and healthcare outcomes. Alongside its customers around the world, Stryker impacts more than 150 million patients annually. More information is available at www.stryker.com. SAN JOSE, California, USA, July 31, 2024 /PRNewswire/ -- Stryker (NYSE:SYK), a global ...

Financial Data and Key Metrics - The company delivered strong organic growth sales of 9% in Q2 2024, compared to nearly 12% in the same quarter of 2023 [4] - Adjusted EPS for the quarter was $2.81, reflecting 10.6% growth compared to Q2 2023, driven by higher sales and margin expansion [7] - Adjusted gross margin was 64.2%, representing a 30 basis points improvement compared to Q2 2023 [29] - Adjusted operating margin was 24.6% of sales, approximately 30 basis points favorable to Q2 2023 [32] - The company ended Q2 with approximately $2 billion in cash and marketable securities and total debt of $12.2 billion [33] Business Line Performance - MedSurg and Neurotechnology had constant currency sales growth of 9.8% and organic sales growth of 9.7%, with US organic growth at 10.1% and international at 8.2% [28] - Orthopaedics and Spine had constant currency sales growth of 8.9% and organic sales growth of 8%, with US organic growth at 7.3% and international at 9.8% [51] - US trauma and extremities business grew 9.1% organically, driven by strong performances in upper extremities, biologics, and core trauma [20] - US spine business grew 4.4% organically, led by interventional spine performance [20] - Endoscopy had US organic sales growth of 8%, with strong growth in core endoscopy and sports medicine businesses [16] Market Performance - International organic sales growth accelerated to 8.9%, driven by strength in Europe, emerging markets, Australia, New Zealand, and Japan [6] - US organic sales growth was 9%, while international organic sales growth was 8.9% [14] - MedSurg and Neurotechnology had organic sales growth of 8.2% internationally, led by double-digit growth in instruments, neurovascular, and neuro cranial businesses [19] Strategy and Industry Competition - The company remains bullish on its M&A pipeline, with a focus on smaller deals in the first half of 2024 and potentially larger deals in the second half [31] - The company expects sustained growth in its hips and knees businesses, driven by momentum in installations and utilization [11] - The company received FDA clearance for its Spine Guidance 5 Software featuring Copilot, which is expected to enhance patient safety and outcomes [12] - The company completed the acquisition of Artelon and MOLLI Surgical, enhancing its endoscopy portfolio [23] Management Commentary on Operating Environment and Future Outlook - The company raised its full-year 2024 organic sales growth guidance to 9% to 10%, reflecting strong capital backlog, innovative product portfolio, and healthy procedure volumes [24] - Management expects continued strength in procedural demand and capital product demand in the second half of 2024 [8] - The company anticipates a moderately unfavorable impact from foreign exchange rates on full-year sales and EPS, with EPS expected to be negatively impacted by $0.10 to $0.15 [34] Other Important Information - The company repaid $600 million of debt in Q2 2024 [33] - Adjusted R&D spending was 6.5% of sales, approximately 10 basis points higher than Q2 2023 [32] - Adjusted SG&A was 33.1% of sales, consistent with Q2 2023 [32] Q&A Session Summary Question: M&A Pipeline and Margin Targets - The company remains committed to its margin targets of 200 basis points, with 100 basis points expected in 2024 and another 100 basis points in 2025, inclusive of M&A [31] - The company has a strong balance sheet and plans to be active in M&A in the second half of 2024 [36] Question: Margin Expansion Drivers - The company expects more leverage from SG&A in the second half of the year, driven by variable compensation models and cost control measures [49] - The company is confident in achieving 100 basis points of operating margin expansion in 2024 [49] Question: Pricing Trends - The company has seen positive pricing trends, particularly in MedSurg and Neurotech businesses, and expects pricing tailwinds to continue into the second half of 2024 [78] - Pricing initiatives have contributed to a 1.1% favorable impact in Q2 2024 [13] Question: International Growth and Mako Expansion - International growth has been strong, particularly in Mako installations, with significant opportunities in markets like Japan, India, and Europe [81] - The company expects international growth to accelerate in the second half of 2024 and continue to outpace US growth [133] Question: ASC Market Dynamics - The company sees continued growth in the ASC market, with a higher percentage of hips and knees being performed in ASCs [161] - Pricing in the ASC channel is consistent with hospital pricing, and the company expects this trend to continue [151] Question: Supply Chain and Product Launches - The company has resolved supply chain disruptions in neurovascular and expects robust growth in the second half of 2024 [190] - New product launches, such as Pangea and LIFEPAK 35, are expected to drive significant growth in 2025 and beyond [178]

Second Quarter Results Second Quarter Net Sales Growth Overview (1) (1) (1) (1) Sales Analysis Earnings Analysis 2024 Outlook 1 As previously announced, we will host a conference call on Tuesday, July 30, 2024 at 4:30 p.m., Eastern Time, to discuss our operating results for the quarter ended June 30, 2024 and provide an operational update. Please register for this conference call at: https://www.veracast.com/webcasts/stryker/events/SYK2Q24.cfm. After registering, a confirmation will be sent via email, inclu ...

Company Strategy - Stryker has been pursuing an acquisition-driven strategy to enhance its growth profile, acquiring several companies in 2023, including Cerus, which specializes in neurovascular products for hemorrhagic stroke treatment [2] - The acquisition of Artelon, a company focused on soft tissue fixation products, will allow Stryker to strengthen its position in the sports medicine and foot and ankle markets [7][8] - Stryker's acquisition of OrthoSensor in 2021 aims to integrate digital technologies into total joint replacements, enhancing its smart device technology offerings [9] Market Trends - The global soft tissue repair market is projected to grow from $14.8 billion in 2024 to over $18.8 billion by 2029, with a growth rate of 4.9% [17] - The increasing incidence of sports-related injuries is driving market growth, leading to higher adoption of soft tissue repair procedures [10] Financial Performance - Year-to-date, Stryker's shares have increased by 9.7%, outperforming the industry growth of 2.3% and the S&P 500's increase of 17% [5] - The acquisition of Artelon is expected to boost Stryker's business and generate additional revenues, aligning with its strategy of market leadership [23][22] Product Development - Stryker successfully completed the first shoulder arthroplasty surgeries using the Blueprint Mixed Reality Guidance System in Europe, enhancing surgical precision [11] - The technologies from Artelon are expected to complement Stryker's existing product range, focusing on ligament and tendon restoration [15][20]

Stryker Corporation (SYK) witnessed substantial gains in the year-to-date period. Shares of the company have rallied 11.6% compared with 1.7% growth of the industry. The S&P 500 Composite has risen 17.5% during the same time frame. With healthy fundamentals and strong growth opportunities, this Zacks Rank #2 (Buy) company appears to be a solid wealth creator for its investors at the moment. Headquartered in Kalamazoo, MI, Stryker is one of the world's largest medical device companies operating in the global ...

About Stryker For investor inquiries please contact: Jason Beach, Vice President, Finance and Investor Relations at 269-385-2600 or jason.beach@stryker.com For media inquiries please contact: Yin Becker, Vice President, Chief Corporate Affairs Officer at 269-385-2600 or yin.becker@stryker.com Stryker will host a webcast at 4:30pm ET on Tuesday, July 30, to discuss results for its second quarter fiscal year 2024. The webcast can be accessed at Stryker - Events & Presentations. An archive of the webcast will ...

Founded in 1994, IRCAD opened its first facility on the grounds of the University Hospital of Strasbourg, France, and currently has training centers in seven countries: Brazil, China, France, India, Lebanon, Rwanda and Taiwan. When it opens in the summer of 2025, IRCAD NA, in Charlotte, will be its exclusive training headquarters in North America. Media contact Jeanine Guilfoyle Director, Communications, Stryker [email protected] PORTAGE, Michigan and CHARLOTTE, North Carolina, USA, June 18, 2024 /PRNewswir ...

More on LIFEPAK 35 LIFEPAK 35 is a clinically advanced device designed to promote improved cardiac care, enable clinical excellence and deliver in demanding situations. The device's advanced clinical decision support features and a large, user-friendly touchscreen offer a personalized clinical experience that lessens cognitive load at demanding times. The use of cutting-edge technology by emergency responders and healthcare professionals can assist expedite operations in their demanding, fast-paced workplac ...

Stryker Corporation (SYK) recently announced that it has entered into a definitive agreement to acquire Artelon, a privately held company specializing in innovative soft tissue fixation products for foot and ankle and sports medicine procedures. The acquisition will bolster Stryker's product line in the soft tissue fixation market and demonstrate the company's dedication to offering unique ligament and tendon reconstruction options. Price Performance For the past six months, SYK shares have rallied 17.4% co ...

Core Insights - Stryker has launched the LIFEPAK 35 monitor/defibrillator, designed to enhance patient care and streamline workflows for healthcare professionals [1][2][3] - The product addresses the challenges faced by emergency responders and healthcare workers, particularly in light of staff shortages and mental health issues [2][3] Company Overview - Stryker is a global leader in medical technologies, providing innovative products and services across various medical fields, impacting over 150 million patients annually [5] Product Features - The LIFEPAK 35 features a slim, lightweight, and ergonomic design with a large intuitive touch screen, allowing for a customizable clinical experience [3] - It offers trend monitoring and connected capabilities for real-time access to patient data, supporting advanced patient care [2][3] Market Context - The healthcare industry is currently facing unprecedented challenges, with 75% of healthcare workers experiencing mental health struggles such as burnout, stress, and anxiety [2]