Many medical device companies reported steep declines in their orthopedics and spine businesses in the last quarter due to the postponement and cancellation of elective procedures during the pandemic.
Here are 18 points of comparison from Medtronic, Johnson & Johnson, Stryker, Zimmer Biomet, Smith+Nephew and NuVasive.
Medtronic (fourth quarter of the FY)
1. Revenue: $6 billion (26 percent decline)
2. Restorative therapy group, including spine, revenue: $7.725 billion (5.6 percent decline)
3. Spine revenue: $480 million (31 percent decline)
Johnson & Johnson Orthopedics
1. Sales: $2 billion (7.5 percent decline)
2. Trauma sales: $654 million (4.5 percent decline)
3. Spine, sports and other: $703 million (10 percent decline)
Stryker
1. Net sales: $3.6 billion (2 percent increase)
2. Orthopedic sales: $1.2 billion (2.1 percent decline)
3. Spine and nanotechnology sales: $700 million (0.7 percent increase)
Zimmer Biomet
1. Net sales: $1.78 billion (9.7 percent decline)
2. Net loss: $509 million
3. Spine, Dental, craniomaxillofacial revenue: $252 million (12.4 percent decline)
Smith+Nephew
1. Revenue: $1.1 billion (7.6 percent decline)
2. Orthopedic revenue: $497 million (9 percent decline)
3. Sports medicine and ENT revenue: $328 million (11 percent decline)
NuVasive
1. Revenue: $259.9 million (5.4 percent decline)
2. Net income: $5.3 million (43.6 percent decline)
3. The company made executive compensation cuts and pulled back on discretionary spending due to the pandemic.