Stryker posted increased second-quarter sales and year-over-year growth across all business segments, according to July 26 financial results.
Five things to know:
1. Orthopedics and spine sales grew 0.5 percent year over year with $1.9 billion.
2. Medical-surgical and neurotechnology sales were $2.5 billion, an 8 percent increase compared to the same period last year.
3. Total revenue of $4.5 billion was a 4.6 percent increase year over year.
4. CEO Kevin Lobo said in a news release: "Despite supply shortages we delivered solid organic sales growth in Q2. Negative foreign currency and inflation, including spot buys of materials pressured our adjusted earnings. We are confident in our full year outlook for revenue; however, we are expecting continued adjusted EPS challenges due to worsening foreign exchange and other macroeconomic conditions."
5. Installations of Stryker's joint replacement robot, Mako, increased 19 percent year over year in the second quarter, according to a July 26 earnings call transcribed by Seeking Alpha.