Stryker expects 5.5% to 6.5% organic growth in 2017: 5 things to know

Spinal Tech

Stryker net sales grew 13.9 percent in 2016, hitting $11.3 billion.

Here are five things to know:

 

1. The company made several key acquisitions last year. The Sage Products acquisition contributed $258 million to the net sales while Physio-Control acquisition contributed $740 million.

 

2. Net earnings for the full year were $1.6 million, up from $1.4 million in 2015. Gross profit hit $7.4 million, a 13.5 percent increase over 2015.

 

3. Stryker's orthopedics net sales jumped 4.7 percent in 2016 to $4.4 billion. Medsurg net sales hit $4.9 billion, a 25.6 percent increase. Neurotechnology and spine net sales jumped 9.9 for the full year, hitting $2 billion.

 

4. The company expects organic sales to grow 5.5 percent to 6.5 percent in 2017 with adjusted net earnings per diluted share to hit $1.40 to $1.45 in the first quarter and $6.35 to $6.45 in the full year.

 

5. Stryker adopted the updated accounting guidance from the ASU 2016-09 Stock Compensation and estimates if the company share price remains at current levels and stock option exercises remain at historic levels there will be a change in accounting for excess tax benefits on stock compensation that will positively impact net earnings per diluted share by around $0.07 to $0.09 for the full year.

 

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