As a leading medical device manufacturer, Stryker established itself as a member of the Dividend Achievers. With success in 2017, Stryker is continued to grow in the coming years.
Here are five factors influencing the company's momentum, according to Seeking Alpha:
1. The demand for hip and knee implants continues to increase. In the US, hip and knee implants account for 85 percent of all reconstruction and replacement surgeries.
2. The number of patients undergoing hip and knee replacements is anticipated to increase. A study projects the number of hip replacements will increase 174 percent through 2030.
3. Additionally, the number of knee replacement procedures is projected to increase 673 percent.
4. Between hip and knee replacements, the combined total joint replacement market is estimated to top $35 billion by 2022.
5. Since Stryker's release of its 2017 fourth quarter financial report, the company has experienced a 6 percent drop in share values. In comparison, the S&P 500 has experienced a 4.3 percent decline, opening the opportunity for investors.