Matthew Aspro's questions to Stryker Corp (SYK) leadership • Q2 2025
Question
Matthew Aspro of Jefferies asked about the implications of the recent OB VBA bill on hospital purchasing behavior and the outlook for Stryker's tax rate into 2026.
Answer
VP of Finance & IR Jason Beach stated that Stryker is monitoring the bill but sees minimal impact as Medicaid is a small part of its procedure base and capital demand remains tied to strong procedure volumes. VP & CFO Preston Wells noted that while the bill may provide a cash tax benefit, he does not expect a significant impact on the company's effective tax rate (ETR), which should remain in a similar range to the current 15-16% guide.