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    Stryker Corp (SYK)

    Q3 2023 Earnings Summary

    Reported on Jan 4, 2025 (After Market Close)
    Pre-Earnings Price$278.23Last close (Nov 2, 2023)
    Post-Earnings Price$274.35Open (Nov 3, 2023)
    Price Change
    $-3.88(-1.39%)
    • Stryker’s "super cycle" of innovation is driving growth, with multiple impactful new products launching, including the Pangea plating system, new camera systems, and upcoming Mako applications for spine and shoulder, which are expected to fuel growth and outperform the market.
    • Strong international growth, with international sales growing faster than the U.S. for five consecutive years, driven by the Mako robotic system gaining traction in markets like Japan, India, and Europe, indicating significant potential for continued expansion.
    • Healthy demand in the capital equipment environment, with robust Mako placements, especially internationally, and expectations of strong performance in hips and knees returning to normal seasonality, indicating potential revenue growth in Q4 and beyond.
    • Management refrained from providing specific guidance for 2024, indicating uncertainty about sustaining the current high growth rates and possibly hinting at a slowdown in the coming year.
    • Positive pricing trends may be difficult to maintain, as the company anticipates tougher comparisons and acknowledges potential challenges in sustaining price increases in the future.
    • Gross margin improvements seen in Q3 might not be fully sustainable, with expectations of moderation in Q4 due to mix issues, suggesting that margin expansion may slow down going forward.