Stryker Corp Stock Price, News & Analysis

Stryker (NYSE:SYK) has announced that its 2021 Annual Meeting of Shareholders will take place virtually on May 5, 2021, at 2:00 PM ET, due to COVID-19 health concerns. Shareholders can access the meeting via a webcast on the company's Investor Relations page or join by phone using the provided conference ID. A recording of the meeting will be available from May 6, 2021. Stryker is recognized as a leading medical technology company focused on innovative products and services across various medical fields, improving healthcare outcomes for patients and hospitals.

Stryker (NYSE:SYK) will participate in the 41st Annual Cowen Health Care Conference on March 2, 2021. The virtual presentation is scheduled for 10:30 a.m. Eastern Time and will feature Preston Wells, Vice President of Investor Relations, and Andy Pierce, Group President of MedSurg & Neurotechnology.

A webcast and replay of the presentation will be accessible on Stryker's website at www.stryker.com.

Stryker is a leading medical technology company focused on improving healthcare outcomes.

Stryker reported a 3.2% increase in Q4 2020 net sales to $4.3 billion but faced a 3.6% decline for the full year, totaling $14.4 billion. Organic net sales dropped 1.1% in Q4 and 4.8% annually, impacted by COVID-19. Adjusted EPS rose 12.9% to $2.81 for Q4, but decreased 10% to $7.43 for the year. The company anticipates an 8-10% organic growth in 2021 and adjusted EPS between $8.80 and $9.20. Challenges include persistent pricing pressures and pandemic effects, but optimism remains for recovery in elective procedures.

Stryker (NYSE:SYK) has acquired OrthoSensor, Inc., a leader in digital technologies for musculoskeletal care, enhancing its offerings in smart sensor technologies for joint replacement. The acquisition aims to improve patient outcomes through real-time data and evidence-based treatments using OrthoSensor's innovations like the VERASENSE™ intraoperative sensor and MotionSense™ wearables. This strategic move positions Stryker to strengthen its digital ecosystem and expand its data analytics capabilities, which are essential for advancing patient care in orthopaedics.

Stryker (NYSE:SYK) will host a conference call on January 27, 2021, at 4:30 p.m. ET to discuss its operating results for the quarter ending December 31, 2020. The final results will be released at 4:05 p.m. that same day. Participants can join by dialing (877) 702-4565 domestically or (647) 689-5532 internationally, using conference ID 5283279. A webcast of the call will also be available on Stryker's website and will be archived for later access. Stryker is a leading medical technology company focused on improving healthcare through innovative products and services.

Stryker (NYSE:SYK) has declared a quarterly dividend of $0.63 per share, an increase of 9.6% compared to last year, payable on January 29, 2021 to shareholders recorded by December 31, 2020. This decision aligns with Stryker's capital allocation strategy amidst ongoing financial challenges. CEO Kevin Lobo highlighted their commitment to delivering strong financial results and enhancing shareholder value.

Stryker announced it has priced an offering of $600 million aggregate principal amount of its 0.600% Notes due 2023, set to mature on December 1, 2023. The offering, expected to settle on November 23, 2020, will utilize net proceeds for general corporate purposes, potentially including the redemption of Wright Medical Group's convertible debt, assumed during Stryker's acquisition. Citigroup, BofA Securities, and Wells Fargo are acting as joint book-running managers for the offering.

Stryker (NYSE:SYK) will participate in the 3rd Annual Evercore ISI HealthCONx Virtual Conference on December 3, 2020. The presentation starts at 8:00 a.m. Eastern Time and will be represented by Preston Wells, Vice President, Investor Relations, and Spencer Stiles, Group President, Orthopaedics and Spine. A webcast will be available on Stryker's website, allowing for both live viewing and replay. Stryker is a leading medical technology firm committed to improving healthcare through its innovative products in Orthopaedics, Medical and Surgical, and Neurotechnology.

Stryker has completed the acquisition of Wright Medical Group for $30.75 per share, enhancing its position in the trauma and extremities market. The acquisition, which involved 124.9 million shares and represents approximately 96% of Wright Medical's outstanding shares, allows Stryker to expand its product offerings, particularly in the fast-growing upper and lower extremities segments. The company is not providing fourth-quarter earnings guidance due to uncertainties from the COVID-19 pandemic but plans to offer 2021 guidance in January 2021.