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How Stryker Is Positioned in November

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Nov. 21 2018, Updated 10:09 a.m. ET

Company overview

Strong operational performance and upward movements in Stryker (SYK) stock have kept investors interested in the stock in 2018. In this series, we’ll explore Stryker’s financials, segment performance, analysts’ views on the stock, and valuation metrics of the company.

Stryker’s products and services cater to the orthopedics, medical and surgical, neurotechnology, and spine areas. Its product portfolio includes implants used in hip and knee joint replacements, surgical equipment, surgical navigation instruments, endoscopic and communications systems, emergency medical equipment, spinal implants, and neurosurgical, neurovascular, and intensive care disposable products.

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Top line

Stryker generated total revenues of $3.24 billion in the third quarter of 2018 as compared to $3.01 billion in the comparable period of 2017. Stryker’s revenues from orthopedics sales increased from $1.13 billion in the third quarter of 2017 to $1.17 billion in the third quarter of 2018 due to increased shipments of knee and trauma and extremities products. MedSurg revenue, consisting of surgical equipment, surgical navigation systems, and endoscopy products, was $1.44 billion in the latest quarter as compared with $1.34 billion in the third quarter of 2017. Stryker’s revenue from neurotechnology and spine product sales increased from $538.0 million in the third quarter of 2017 to $628.0 million in the third quarter of 2018 due to higher product shipments.

For fiscal 2018 and 2019, Stryker is expected to generate revenues of $13.53 billion and $14.44 billion, respectively, as compared with revenues of $12.44 billion in fiscal 2017.

In comparison, fiscal 2018 revenues of peers Abbott Laboratories (ABT), Johnson & Johnson (JNJ), and Zimmer Biomet Holdings (ZBH) are expected at $30.66 billion, $81.38 billion, and $7.93 billion, respectively.

We’ll take a look at Stryker’s operational performance in the next part.

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