Stryker withdrawing Q1, full-year financial projections due to COVID-19 — 3 insights

Styker is the latest company to withdraw its first quarter and full-year 2020 financial projections due to the COVID-19 pandemic, according to a March 31 filing on EDGAR.

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What you should know:

1. Demand for Stryker’s orthopedic implants has fallen because of the expanding suspension of elective surgical procedures. Thirty-one states have deferred elective surgical procedures to date.

2. The company said the pandemic has had “a significant negative impact on Stryker’s operations and financial results.”

3. Stryker did not make updated projections at this time. The company will provide additional information at its next earnings call on April 30.

More articles on devices:
NuVasive recalls Magec system for scoliosis, advises surgeons to perform clinical follow-ups
Zimmer Biomet asks European hospitals to remove orthopedic spacer molds
Resurgens Orthopaedics postpones elective surgeries, remains open for urgent care

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