Stryker Corporation (SYK) announced that it would launch its Gamma4 Hip Fracture Nailing System on a live broadcast event in Germany on Jun 4, 2024. The company has completed more than 35 surgeries successfully using the Gamma 4 hip Fracture Nailing System across France, Italy, the U.K. and Switzerland as initial use cases. SYK will provide key insights and case discussions during the launch event. Per the Swiss surgeons who performed the surgeries, Gamma4 provides several essential elements to improve surg ...

Stryker Corporation (SYK) recently initiated a voluntary correction for the application software in the Mako Total Knee system. The company issued an urgent field safety notice due to increased software error #3 code. The error code is reflected when a Mako system shutdown or restart is not performed before switching between total knee and total hip applications. Per the company, the potential harms of this issue are complications associated with extended surgery. Price Performance For the past six months, ...

Financial Performance - Stryker Corporation achieved sales growth of 9.7% in Q1 2024, with net sales reaching $5,243 million compared to $4,778 million in Q1 2023[66] - Adjusted net earnings per diluted share increased by 16.8% to $2.50, with adjusted net earnings totaling $962 million[66] - The operating income margin improved to 18.5%, up from 15.4% in the previous year, with operating income of $972 million[80] - Net earnings increased by 33.1% to $788 million, compared to $592 million in Q1 2023[68] - Net earnings increased to $788 million or $2.05 per diluted share in Q1 2024, up from $592 million or $1.54 per diluted share in Q1 2023, representing a 33% increase in net earnings[85] - Adjusted net earnings for Q1 2024 were $962 million, with an adjusted diluted EPS of $2.50, compared to $820 million and $2.14 in Q1 2023, indicating a 17% increase in adjusted net earnings[92] - The company reported adjusted operating income of $1,146 million in Q1 2024, which is 21.9% of net sales, compared to 15.4% in Q1 2023[92] Sales Growth by Segment - MedSurg and Neurotechnology net sales grew by 11.5% to $2,999 million, while Orthopaedics and Spine net sales increased by 7.5% to $2,244 million[69] Expenses and Costs - Research, development, and engineering expenses rose by 8.6% to $368 million, maintaining a consistent percentage of net sales at 7.0%[76] - Selling, general and administrative expenses increased by 3.3% to $1,840 million, decreasing as a percentage of net sales from 37.3% to 35.1%[78] - The company incurred acquisition and integration-related costs of $13 million in Q1 2024, impacting adjusted net earnings[92] - Structural optimization and other special charges amounted to $14 million in Q1 2024, affecting operating income and net earnings[92] Profitability Metrics - Gross profit as a percentage of net sales increased to 63.6% from 63.1%, primarily due to favorable volumes[74] - Total reported gross profit for Q1 2024 was $3,333 million, representing 63.6% of net sales, compared to $3,016 million or 63.1% in Q1 2023[92] Cash Flow and Liquidity - Cash provided by operating activities decreased to $204 million in Q1 2024 from $445 million in Q1 2023, primarily due to timing of payments and collections in working capital accounts[97] - Cash used in investing activities increased to $408 million in Q1 2024 from $132 million in Q1 2023, which included cash paid for the SERF acquisition[98] - Cash used in financing activities was $418 million in Q1 2024, primarily driven by dividend payments of $304 million and cash paid for taxes on withheld shares of $113 million[99] - Cash, cash equivalents, and marketable securities decreased to $2,407 million as of March 31, 2024, from $3,053 million as of December 31, 2023[100] - Current assets exceeded current liabilities by $4,937 million on March 31, 2024, compared to $4,597 million on December 31, 2023[100] - Approximately 26% of cash, cash equivalents, and marketable securities were held outside the United States as of March 31, 2024, compared to 25% on December 31, 2023[101] Acquisitions - The company acquired SERF for $246 million, enhancing its Joint Replacement business within Orthopaedics and Spine[67] Taxation - The effective tax rates were 14.6% in Q1 2024 and 12.8% in Q1 2023, reflecting lower effective income tax rates due to European operations and discrete tax items[84] - The company anticipates that new tax laws, including a global corporate minimum tax rate of 15%, could increase tax expenses in future periods[84] Forward-Looking Statements - The company anticipates continued inflationary pressures and macroeconomic challenges impacting customer orders and capital product deal mix[64] - The report contains forward-looking statements that are subject to risks and uncertainties, which could cause actual results to differ materially from expectations[106] Accounting Policies - No changes were made to critical accounting policies and estimates from those disclosed in the Annual Report on Form 10-K for 2023[102] - The company does not have guarantees or off-balance sheet financing arrangements that could materially impact financial condition or liquidity[104] Financial Reporting - The company uses non-GAAP financial measures to provide meaningful insights into financial results, including percentage sales growth in constant currency and percentage organic sales growth[87] - Dollar amounts are reported in millions, except per share amounts or as otherwise specified[107]

Stryker Corporation (SYK) reported first-quarter 2024 adjusted earnings per share (EPS) of $2.50, which beat the Zacks Consensus Estimate of $2.35 by 6.4%. The bottom line also improved 16.8% year over year. GAAP EPS was $2.05, up 33.1% from the year-ago quarter’s level. Price Performance SYK’s shares have risen 19.5% year to date compared with the industry's growth of 6.7%. The S&P 500 Index has increased 10.1% in the same period. Image Source: Zacks Investment Research Revenue Details Revenues totaled $5. ...

Start Time: 16:30 January 1, 0000 5:28 PM ET Stryker Corporation (NYSE:SYK) Q1 2024 Earnings Conference Call April 30, 2024, 16:30 PM ET Company Participants Kevin Lobo - Chair and CEO Glenn Boehnlein - VP and CFO Jason Beach - VP, Finance and IR Conference Call Participants Robert Marcus - JPMorgan Lawrence Biegelsen - Wells Fargo Securities Ryan Zimmerman - BTIG Joanne Wuensch - Citibank Pito Chickering - Deutsche Bank Shagun Singh Chadha - RBC Capital Vijay Kumar - Evercore Travis Steed - Bank of America ...

Stryker (SYK) reported $5.24 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 9.7%. EPS of $2.50 for the same period compares to $2.14 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $5.05 billion, representing a surprise of +3.74%. The company delivered an EPS surprise of +6.38%, with the consensus EPS estimate being $2.35.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they ...

Stryker (SYK) came out with quarterly earnings of $2.50 per share, beating the Zacks Consensus Estimate of $2.35 per share. This compares to earnings of $2.14 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.38%. A quarter ago, it was expected that this medical device maker would post earnings of $3.27 per share when it actually produced earnings of $3.46, delivering a surprise of 5.81%.Over the last four quarters, the compan ...

Exhibit 99.1 STRYKER REPORTS FIRST QUARTER 2024 OPERATING RESULTS Portage, Michigan - April 30, 2024 - Stryker (NYSE:SYK) reported operating results for the first quarter of 2024: First Quarter Results | | | | First Quarter Net Sales Growth Overview | | | | --- | --- | --- | --- | --- | --- | | | | Foreign Currency | Acquisitions / | | | | | Reported | Exchange | Constant Currency Divestitures | | Organic | | MedSurg and Neurotechnology | 11.5 % | (0.5)% | 12.0 % | 0.4 % | 11.6 % | | Orthopaedics and Spine ...

Wall Street analysts expect Stryker (SYK) to post quarterly earnings of $2.35 per share in its upcoming report, which indicates a year-over-year increase of 9.8%. Revenues are expected to be $5.06 billion, up 5.8% from the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Ahead of a company's earnings disclosure, it is crucial to give du ...

The global orthopedic space has seen significant transformative changes in recent times. Major players like Stryker (SYK) and Zimmer Biomet (ZBH) have rapidly adopted differentiated strategies to make up for the lost growth during the pandemic.Both these S&P 500 players, who have started their 2024 journey on an optimistic note, are due to report first-quarter 2024 results in the upcoming week. Accordingly, it’s time for investors to revisit their quarter’s takeaway and assess the overall growth potential t ...