Stryker's orthopedics sales jump 21.4% in Q1; CEO expects 'momentum to continue'

Spinal Tech

Stryker posted $1.5 billion in first-quarter orthopedics sales, a 21.4 percent increase compared to the first quarter of 2020.

Six notes:

1. Neurotechnology and spine net sales increased 14 percent year over year to $848 million in the first quarter.

2. Net sales in the first quarter were $4 billion, a 10.2 percent increase compared to the same period in 2020.

3. While the orthopedic segment showed significant growth, the recovery was mixed among procedure types.

4. Year over year for the first quarter, knee sales decreased 4.5 percent to $412 million; hip sales decreased 2.2 percent to $309 million; trauma and extremities sales increased 63.1 percent to $640 million; and other sales increased 48.6 percent to $123 million.

5. Business picked up significantly at the end of the first quarter, and CEO Kevin Lobo expects that momentum to continue.

6. Mr. Lobo also said April 27 that he is "encouraged by the Wright Medical integration, which is pacing ahead of our expectations." Stryker completed the acquisition of Wright Medical in November.

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