Here are 10 things to know:
1. Stryker reported overall 16.8 percent net sales growth in the second quarter of 2016 to $2.8 billion. The company’s three core business lines also reported net sales growth:
• Orthopedics — 4.6 percent
• MedSurg — 33.8 percent
• Neurotechnology and Spine — 9.3 percent
2. Net sales from the Sage Products and Physio-Control acquisitions contributed $240 million to the company’s sales in the quarter.
3. Stryker had net earnings of $380 million in the second quarter, down 3.1 percent from the same period last year.
4. In the United States, Stryker reported net sales at $2 billion, a 19.2 percent increase over the same period last year. The international sales reached $794 million, up 11 percent from 2015.
5. For the first half of the year, Stryker reported $5 billion, a 10.9 percent increase over the same period last year. There was a 14.1 percent increase in six-month sales in the United States and a 3.2 percent increase in international sales.
6. Stryker’s knee sales hit $370 million for the second quarter, up 7.1 percent over last year. In the first half of the year, knee sales were up 5.8 percent to $731 million.
7. Hip sales were flat, growing only 1.2 percent to $323 million in the second quarter. Trauma and extremities were up 6 percent in the second quarter over the same period last year.
8. Spine sales for the second quarter hit $188 million, up only 1.1 percent over the same period last year. For the six-months end, the company reported 1.1 percent growth to $367 million. Internationally, the company reported a 10.4 percent decrease in spine sales.
9. Stryker expects organic sales growth of 6 percent to 6.5 percent in 2016 and the adjusted net earnings per diluted share are expected to reach $5.75 to $5.80.
More articles on orthopedic devices:
Medtronic’s ambitious goal: Generate $40B in free cash flow in 5 years—6 highlights
6 points on the $1.69B fluoroscopy and Mobile C-arms market
Spineart’s new lumbar interbody system receive CE Mark: 3 takeaways
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
