Stryker Reports Robust 11.5% Organic Sales Growth in Q3 2024

2024-11-02

Stryker, a prominent company in the medical technology industry, held its 2024 Q3 earnings call where key executives and analysts discussed various aspects of the company's performance and future outlook. Notable figures present included Kevin Lobo, Jason Beach, Glenn Boehnlein, and several others.

During the call, Stryker reported robust organic sales growth of 11.5% in the third quarter of 2024, with strong double-digit growth observed in areas such as MedSurg, Neurotechnology, and trauma to extremities, hips, and knees businesses. The company also strategically acquired care.ai and N1 to further enhance its portfolio.

Stryker's adjusted quarterly EPS of $2.87 reflected a 16.7% growth compared to the same quarter in 2023. The company updated its expectations for 2024, anticipating full-year organic sales growth of 9.5% to 10% and adjusted EPS of $12 to $12.10. Additionally, Stryker aimed to achieve 200 basis points of margin expansion by the end of 2025.

Various products and initiatives contributed to the company's growth in the third quarter, including procedural volumes, robotic-assisted surgery adoption, and new platform launches. Stryker closed seven acquisitions year-to-date in 2024, investing approximately $1.6 billion in these strategic moves.

Looking ahead, Stryker remained optimistic about its performance in early 2025, with expectations to outperform the mid-single-digit growing markets by 200 to 300 basis points. The company's focus on innovation, acquisitions, and expanding into high-growth areas like connected services and Software as a Service positioned it well for continued success.

Overall, Stryker's strong performance, strategic acquisitions, and focus on innovation underscored its position as a leader in the medical technology industry. With a clear growth strategy and a commitment to margin expansion, Stryker was poised for continued success in the coming years.