Four things to know:
1. Fourth quarter orthopedic sales were $2.3 billion, up 5.6% year-over-year. For the full year of 2023, orthopedic sales rose 4.1% with $8.9 billion.
2. Hip sales in the fourth quarter were $398 million, a 3.4% year-over-year increase. Knee sales rose 9.2% with $387 million. Quarterly spine, sports and other sales were $742 million, and trauma sales were $741.
3. In fiscal year 2023, Johnson & Johnon began restructuring its orthopedic business in the MedTech segment. Restructuring expenses were $84 million in the fourth quarter, according to a news release.
4. Johnson & Johnson expects 2024 sales to grow 5% to 6% in 2024.
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