MedSurg and Neurotechnology experienced double-digit growth.
Orthopaedics and Spine had high single-digit growth.
Quarterly adjusted EPS was $2.50, reflecting 16.8% growth compared to the first quarter of 2023.
U.S. organic sales growth stood at 11.3%.
International organic sales growth was at 6.6%.
Future Guidance
Full-year organic sales growth expectation increased to 8.5% to 9.5%.
Adjusted EPS range for the full year updated to $11.85 to $12.05 a share.
Target of 200 basis points of operating margin expansion by 2025.
Anticipation of accelerated M&A activity throughout the year.
Trends, Market Conditions, Sentiment
Continuous strong commercial execution contributing to growth.
Significant momentum in U.S. performance, particularly noted in Instruments, Medical, Endoscopy, Trauma, and Extremities, and Mako.
International growth, particularly strong in the United Kingdom and Canada, as well as in emerging markets.
Positive pricing initiatives, especially in MedSurg and Neurotech, contributing to favorable impacts.
Procedural volumes remained strong, driven by continued adoption in robotic-assisted surgery, demographics, a stable pricing environment, and healthy patient activity.
Demand for capital products remained healthy, with a continued elevated backlog across Endoscopy and Medical divisions.
Recognition of Stryker as one of Fortune’s 100 Best Companies to Work For, highlighting commitment to talent and culture.
Publication of the annual comprehensive corporate responsibility report, emphasizing commitments and disclosures.
Notable Quotes
Kevin Lobo: “This reflects our team’s continued strong commercial execution.”
Glenn Boehnlein: “Driven by our strong sales performance and margin expansion.”
Jason Beach: “Demand for our capital products remained healthy in the quarter with continued elevated backlog across our Endoscopy and Medical divisions.”
Kevin Lobo: “Our deal pipeline is strong, and we expect to be active over the course of the year.”
Kevin Lobo: “This guidance demonstrates the durability of our high growth and is a testament to our commercial strength and extensive pipeline of innovation across the company.”
