Stryker on April 28 posted $4.3 billion in first-quarter net sales and saw 5.1 percent growth in its orthopedics and spine business.
Five insights:
1. Orthopedic and spine sales were $1.9 billion with trauma and extremity products seeing the most revenue at $685 million, according to a news release.
2. Knee sales jumped 12.5 percent year over year with $464 million, and hip sales grew 5.9 percent with $464 million.
3. Stryker's MedSurg and neurotechnology sales were $2.4 billion, an increase of 10.2 percent year over year.
4. Full-year revenue of $4.3 billion was an 8.1 percent increase year over year.
5. "We delivered solid first-quarter results in the face of a challenging macroeconomic environment," CEO Kevin Lobo said in the release. "We are encouraged by the steady improvement of surgery volumes and the robust demand for our capital products; however, we expect supply chain challenges to persist for much of the year."