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Stryker beats The Street as strong sales growth continues

Stryker (NYSE: SYK) + is continuing a strong 2024 amid the continued success of its Mako robots, new joint replacement technology and more.

Kalamazoo, Michigan–based Stryker — the world’s largest ortho device company — earned $788 million, or $2.05 per share, off of $5.2 billion in sales for the quarter that ended March 31, 2024. The results represented a 33% boost to the bottom line and a 9.7% boost to the top line compared with Q1 2023.

Adjusted to exclude one-time items, Stryker saw earnings per share of $2.50 during the first quarter. The adjusted EPS was 15¢ ahead of the Wall Street analyst consensus of EPS of $2.50 and revenue of $5.1 billion.

“Our momentum from 2023 continued into the first quarter as we delivered 10% organic sales growth,” Stryker CEO Kevin A. Lobo said in a news release that was out yesterday evening. “Our teams are executing well, and I am confident in our abil…

Stryker previews next-gen monitor/defibrillator

Stryker’s next-gen LifePak 35 [LinkedIn marketing image, background cropped and edited to fit]Stryker (NYSE: SYK) + this past week previewed a next-generation monitor/defibrillator after picking up a supplemental FDA approval.

According to BTIG analyst Ryan Zimmerman, the orthopedic giant previewed the system at the Fire Department Instructors Conference (FDIC) in Indianapolis. The new LifePak 35 system received U.S.-only FDA clearance via a premarket approval (PMA) supplement on April 12. Zimmerman said the system builds on the previous version, the now-15-year-old LifePak 15.

Stryker is yet to formally announce the rollout, but Zimmerman reported that management has been discussing launch plans. Zimmerman and BTIG’s Iseult McMahon received early feedback from EMS and firefighters based on discussions online, though.

LifePak 35 isn’t an on-the-wall system and is geared toward higher-end acute car…

Stryker previews next-gen monitor/defibrillator

Stryker’s next-gen LifePak 35 [LinkedIn marketing image, background cropped and edited to fit]Stryker (NYSE: SYK) + this past week previewed a next-generation monitor/defibrillator after picking up a supplemental FDA approval.

According to BTIG analyst Ryan Zimmerman, the orthopedic giant previewed the system at the Fire Department Instructors Conference (FDIC) in Indianapolis. The new LifePak 35 system received U.S.-only FDA clearance via a premarket approval (PMA) supplement on April 12. Zimmerman said the system builds on the previous version, the now-15-year-old LifePak 15.

Stryker is yet to formally announce the rollout, but Zimmerman reported that management has been discussing launch plans. Zimmerman and BTIG’s Iseult McMahon received early feedback from EMS and firefighters based on discussions online, though.

LifePak 35 isn’t an on-the-wall system and is geared toward higher-end acute car…

Stryker completes acquisition of SERF SAS

Stryker (NYSE: SYK) + announced today that it completed its previously announced acquisition of joint replacement company SERF SAS.

In December, the Kalamazoo, Michigan-based orthopedic giant struck a deal to buy the France-based company from Menix.

SERF SAS develops, manufactures and sells a range of large joint replacement products on an international basis. This includes inventing the original Dual Mobility Cup for hip replacement. SERF SAS has its main office in Décines-Charpieu, France.

“The acquisition of SERF SAS further strengthens our global portfolio and reinforces our dedication to orthopaedic excellence,” said Katherine Truppi, president of Stryker’s Joint Replacement division. “We welcome the SERF SAS team to Stryker and look forward to working together to help advance product innovation and customer satisfaction.”

SERF SAS complements Stryker’s existing pr…

Stryker reports first shoulder arthroplasty with Blueprint MR guidance system in Europe

The Blueprint MR guidance. [Image courtesy of Stryker]Stryker (NYSE: SYK) + announced today that surgeons completed the first shoulder arthroplasty surgeries in Europe using its Blueprint guidance.

Dr. Julien Berhouet (Tours Hospital, France) and Dr. Lionel Neyton (Centre Orthopédique Santy and Hôpital Privé Jean Mermoz, France) performed the cases. These cases follow the first surgeries using the mixed reality (MR) guidance in North America last month. Blueprint received CE mark at the end of 2023.

Neyton said the system allows him to tailor shoulder joint replacements to the unique needs and anatomy of his patients.

“It’s exciting to be one of the first two hospitals in Europe to use Stryker’s Mixed Reality Guidance System,” said Berhouet. “I am also pleased to be leading a pilot study to investigate the safety and effectiveness of this new technology, alongside three other centres in France.”

Stryker desi…

How GLP-1s tanked and reshaped the medtech stock market in 2023

Analysts weigh in on how the GLP-1 craze caused one of the biggest swings in the medtech stock market in recent years.

[Image courtesy of Nick Chong on Unsplash]In a tumultuous year for the medtech industry, promising clinical trial results on glucagon-like peptide 1 agonists (GLP-1s) created a seismic shift in the medtech stock market, triggering one of the largest dips in market value that analysts have seen in years.

While analysts said the medtech stock market performed well in 2023 – driven by strong market growth from the backlog of procedures that built up during the pandemic and more innovation and new product launches from companies – the fear of GLP-1s prevailed among investors, sending medtech stocks down significantly in the second half of the year, even as top executives sought to allay concerns.

The specter of GLP-1s such as Novo Nordisk’s Wegovy and Ozempic loomed large, casting doubt on medtech’s future trajectory at the end of the year. However, the stocks have almost fully recovered since then. Analysts predict a rebound in 2024, with diminishing head…

Surgical robots don’t improve knee surgery revision rates, study says

[Image from Pixabay]

Robotically assisted total knee arthroplasty has skyrocketed in popularity, but a new registry data analysis raises some questions about the benefits for knee surgery patients.

The analysis of American Joint Replacement Registry (AJRR) data, presented at AAOS 2024 in San Francisco, found that revision rates were similar in conventional and robotic-assisted cementless TKA at two years post-operatively. The study also found that the odds of revision due to infection or mechanical loosening were not significantly different between the two methods.

“A lot of single surgeon studies show there is improved precision with robotic-assisted TKA,” Dr. Lucas Nikkel, assistant professor of orthopedic surgery at Johns Hopkins Medicine, said in a news release about the study. “Some studies suggest there may be improved early recovery or less damage to soft tissue. One of the chall…

The biggest stories from AAOS 2024

The American Academy of Orthopaedic Surgeons’ annual meeting offers ortho tech companies the chance to present their latest innovations, and this year’s AAOS 2024 was no exception.

The event, running Feb. 12–16 in San Francisco, saw important announcements from companies including Stryker, Smith+Nephew, Osso VR and more.

Here are some highlights from AAOS 2024:

A new app for Stryker’s Mako The Mako robotic-assisted surgery system. [Image courtesy of Stryker]The world’s largest orthopedic device company says its Mako surgical robot for ortho procedures continues to drive growth, Stryker ended 2023 with 60% of its knee replacement procedures and 34% of its hip replacements in the U.S. performed using the robotic system.

Now, Stryker says it wants to further extend a surgeon’s Mako SmartRobotics experience in and beyond the operating room. The company used AAOS 2024 to highlight its myMako app for Apple Vision Pro and iPhone.

Wh…

DeviceTalks Boston 2024: Our favorite panels and new additions

Our team picks favorites from our upcoming show, including some new additions to the program.

Leaders from CMR Surgical, the developer of the Versius surgical robotics system, will speak at DeviceTalks Boston 2024. [Photo courtesy of CMR Surgical]

I enjoy reading bookstore staff recommendations. It’s nice to see how people in the know like to spend their time.

But if you asked me to pick my favorite panels on the agenda for DeviceTalks Boston, taking place May 1–2, 2024 at the Boston Convention & Exhibition Center, I couldn’t do it.

In fact, I won’t do it. Sorry, dear reader, I’ve put too much into this agenda to pick one favorite session. Plus, I owe neutrality to our speakers — amazing professionals willing to give up two days to help me create something. That’s a covenant that I cannot violate by selecting a favorite.

But I can put our editorial team on the spot to pick their favorites. And…

Stryker touts updates to Mako, introduces new joint replacement offering

The Mako robotic-assisted surgery system. [Image courtesy of Stryker]Stryker (NYSE: SYK) + today announced its plan to showcase new joint replacement technology and updates to its Mako surgical robotic platform.

This week, the orthopedic giant is displaying new advances like myMako and Triathlon Hinge at AAOS in San Francisco.

Stryker said in a news release that it wants to extend a surgeon’s Mako SmartRobotics experience in and beyond the operating room. To execute this, it developed the myMako app for Apple Vision Pro and iPhone. When used on Apple Vision Pro, myMako allows surgeons to visualize and review patients’ Mako surgical plans anytime, anywhere.

The company calls the new innovation “a brilliant, immersive visual experience.” It marks the latest potential innovation for Mako, which the company expects to continue expanding as the year goes on. About a year ago, Stryker suggested th…

10 surgical robotics companies you need to know

The surgical robotics space saw a major shakeup last year. The da Vinci SP surgical robotics system [Image courtesy of Intuitive Surgical]“Robotics is hard. Robotics in healthcare is hard.”

Hani Abouhalka, Johnson & Johnson’s company group chair for Robotics & Digital, said those words at our DeviceTalks West event in California in October.

It pretty much sums up the situation for medtech companies large and small that sought to compete against Intuitive in the soft-tissue surgical robotics space. Despite the increased competition, Intuitive remains the undisputed leader. It’s even moving forward on a next-gen da Vinci robot.

For its part, Johnson & Johnson is sticking with plans to develop its Ottava surgical robot. J&J now plans to submit Ottava for FDA investigational device exemption (IDE) in the second half of 2024 in order to start clinical trials.

Even though it is sticking with robotic surgery, J&J laid off employees in th…

Stryker leaders expect another strong year in 2024

Stryker (NYSE: SYK) + saw its Mako ortho surgical robot and new products drive a solid finish for 2023 — with expectations for a just as robust 2024.

The Kalamazoo, Michigan–based orthopedic device giant saw SYK shares shoot up more than 6% to $335.67 apiece in morning trading today on the heels of the Street-beating Q4 results from yesterday evening. MassDevice‘s MedTech 100 Index was up nearly 1%.

Stryker earned $1.143 billion, or $2.98 per share, from $5.815 billion in sales for the quarter ending Dec. 31, 2023. The bottom line more than doubled year over year, and the top line was up 11.8%.

Adjusted to exclude one-time items, Stryker’s EPS was $3.46. The result was 19¢ ahead of the consensus on Wall Street, where analysts expected EPS of $3.27 and revenue of $5.6 billion.

“We continue to be a high-growth company with a focus on our mission to deliver for our patients and customers,” …