Stryker Corp Stock Price, News & Analysis

Moss & Gilmore LLP announced a settlement with the U.S. Department of Justice regarding a False Claims Act lawsuit. Defendants Jeffrey M. Gallups, M.D., and Milton Hall Surgical Associates will pay $3,068,434 to resolve allegations of ordering unnecessary medical tests and surgeries for kickbacks. Entellus Medical, acquired by Stryker Corporation (NYSE:SYK), will also pay $1,200,000 for its involvement. Dr. Gallups previously pleaded guilty to healthcare fraud, with sentencing set for February 11, 2022. Failure to pay may result in a $5,388,863 judgment against them.

Stryker reported third-quarter results for 2021, with net sales of $4.2 billion, representing an 11.3% increase from 2020 and a 16.0% increase from 2019. Although organic net sales rose 4.5% year-over-year, reported operating income margin fell by 260 bps to 25.4%. Reported EPS decreased by 30.1% to $1.14, while adjusted EPS rose 2.8% to $2.20. Key segments showed varied growth, with Orthopaedics increasing by 16.1% but experiencing a decline in organic sales. The company adjusted its 2021 outlook, forecasting organic sales growth of 7% to 8% from 2019.

Stryker (NYSE:SYK) will host an Analyst Meeting on November 18, 2021, at 2:30 p.m. ET, in Mahwah, New Jersey. A webcast of the event will be available on Stryker's website, where it will be archived for later viewing. To join via phone, call (844) 200-6205 (domestic) or (929) 526-1599 (international) with access code 695616. A recorded version will be accessible from 8:30 p.m. ET on November 18 until 11:59 p.m. ET on November 25, 2021. For further inquiries, contact their Investor Relations team.

Stryker (NYSE:SYK) will host a conference call on October 28, 2021, at 4:30 p.m. ET to discuss operating results for the quarter ending September 30, 2021. Preliminary results will be released at 4:05 p.m. that day. Participants can join by calling (833) 979-2711 (domestic) or (236) 714-2206 (international) with passcode 7351349. The call will be available via webcast on the company's website and archived after for later access until November 4, 2021.

Stryker is a leading medical technology company focused on enhancing healthcare.

THINK Surgical, Inc. has appointed Stuart F. Simpson as its new president and chief executive officer. With over 24 years at Stryker Corporation (NYSE: SYK), Simpson brings extensive experience in the orthopedic device sector, having previously led the Joint Replacement Division. He is confident about THINK's growth potential, particularly due to its innovative technology and open implant platform, which are believed to drive customer value and operational improvements. The company's robotic system has been used in numerous successful joint replacement surgeries worldwide.

Stryker (NYSE:SYK) will participate in Morgan Stanley’s 19th Annual Global Healthcare Conference on September 13, 2021. CEO Kevin Lobo will present virtually at 10:15 a.m. ET. The presentation will be available for live streaming and later replay on the Stryker website. Known for its innovative solutions in Orthopaedics, Medical and Surgical, and Neurotechnology, Stryker aims to enhance healthcare outcomes globally. For more information, visit www.stryker.com.

Stryker (NYSE:SYK) announced on August 18, 2021, that Timothy J. Scannell will retire as President and COO on March 31, 2023. He will serve as Advisor to the CEO from October 1, 2021, until retirement, ensuring a smooth transition of duties to Group Presidents J. Andrew Pierce and Spencer S. Stiles. Scannell has had a notable 31-year career at Stryker, contributing to its growth and success. The company remains focused on innovative medical technologies aimed at improving healthcare outcomes.

Stryker (NYSE:SYK) announced a quarterly dividend of $0.63 per share, payable on October 29, 2021, to shareholders of record as of September 30, 2021. This reflects a 9.6% increase compared to the previous year and remains unchanged from the last quarter. Stryker is a prominent player in the medical technology sector, focusing on enhancing healthcare through innovative products and services across various specialties including Orthopaedics, Medical and Surgical, and Neurotechnology.

Stryker reported a robust financial performance for Q2 2021, with net sales of $4.3 billion, a significant increase of 55.4% from 2020 and 17.6% from 2019. Organic net sales rose 42.9% year-over-year. Key segments showed impressive growth: Orthopaedics net sales surged 82.3%, MedSurg increased 32.3%, and Neurotechnology and Spine rose 66.9%. Adjusted EPS reached $2.25, up from $0.64 in the prior year. Stryker raised its 2021 guidance, anticipating organic growth of 9% to 10% and adjusted EPS of $9.25 to $9.40, amidst ongoing recovery from the pandemic.