Stock Quote

Copyright Nasdaq. Minimum 15 minutes delayed.

<<  Back

Kalamazoo, Michigan - January 30, 2018 - Stryker Corporation (NYSE:SYK) reported 2017 operating results for the fourth quarter and full year and 2018 outlook:

Fourth Quarter Highlights
Net sales grew 10.0% to $3.5 billion (8.7% constant currency)

Orthopaedics 8.1 % or 6.8 % constant currency
MedSurg 10.9 % or 9.8 % constant currency
Neurotechnology and Spine 11.5 % or 10.3 % constant currency

Reported net earnings per diluted share decreased 149.3% to a net loss per diluted share of $0.66 
Adjusted net earnings per diluted share(1) increased 10.1% to $1.96

Full Year Highlights
Net sales grew 9.9% to $12.4 billion (9.8% constant currency)

Orthopaedics 6.6 % or 6.5 % constant currency
MedSurg 13.6 % or 13.4 % constant currency
Neurotechnology and Spine 8.2 % or 8.3 % constant currency

Reported net earnings per diluted share decreased 38.4% to $2.68
Adjusted net earnings per diluted share(1) increased 11.9% to $6.49

"As pre-announced, we delivered excellent organic sales growth of over 8% in the fourth quarter, capping off a strong year for Stryker," said Kevin A. Lobo, Chairman and Chief Executive Officer.  "We expect our positive momentum to continue in 2018 with another year of strong organic sales growth and leveraged adjusted earnings gains."

Sales Analysis

Consolidated net sales of $3.5 billion and $12.4 billion increased 10.0% and 9.9% as reported in the quarter and full year and 8.7% and 9.8% in constant currency, as foreign currency exchange rates positively impacted net sales by 1.2% and 0.1%. Excluding the 0.7% and 2.7% impact of acquisitions, net sales increased 8.1% and 7.1% in constant currency, including 9.1% and 8.2% from increased unit volumes partially offset by 1.0% and 1.1% in lower prices.

Orthopaedics net sales of $1.3 billion and $4.7 billion increased 8.1% and 6.6% as reported in the quarter and full year and 6.8% and 6.5% in constant currency, as foreign currency exchange rates positively impacted net sales by 1.3% and 0.1%. There was no impact of acquisitions in the quarter and 0.3% impact of acquisitions in the full year. Net sales increased 6.8% and 6.2% excluding acquisitions and in constant currency, including 9.3% and 8.6% from increased unit volumes partially offset by 2.5% and 2.4% in lower prices.

MedSurg net sales of $1.6 billion and $5.6 billion increased 10.9% and 13.6% as reported in the quarter and full year and 9.8% and 13.4% in constant currency, as foreign currency exchange rates positively impacted net sales by 1.1% and 0.2%. Excluding the 1.3% and 5.6% impact of acquisitions, net sales increased 8.5% and 7.8% in constant currency, including 8.0% and 7.5% from increased unit volumes and 0.5% and 0.2% from higher prices.

Neurotechnology and Spine net sales of $0.6 billion and $2.2 billion increased 11.5% and 8.2% as reported in the quarter and full year and 10.3% and 8.3% in constant currency, as foreign currency exchange rates positively impacted net sales by 1.2% in the quarter and nominally for the full year. Excluding the 0.4% and 0.7% impact of acquisitions, net sales increased 10.0% and 7.6% in constant currency, including 11.7% and 9.1% from increased unit volumes partially offset by 1.7% and 1.5% in lower prices.

Earnings Analysis

Reported net earnings decreased 148.9% in the quarter to a net loss of $249 million and reported net earnings decreased 38.1% to $1,020 million in the full year. Reported net earnings per diluted share decreased 149.3% in the quarter to a net loss per diluted share of $0.66 and reported net earnings per diluted share decreased 38.4% to $2.68 in the full year. Reported net earnings includes charges for the impact of the Tax Cuts and Jobs Act of 2017, amortization of purchased intangible assets, restructuring-related activities, Rejuvenate and ABG II recall, and acquisition and integration related activities. The effect of each of these matters on reported net earnings and net earnings per diluted share appears in the reconciliation of actual results to adjusted results. Excluding the impact of these charges increases gross profit margin in the quarter from 64.5% to 66.4% and for the full year from 65.7% to 66.3% and increases operating income margin in the quarter from 20.5% to 27.0% and for the full year from 18.4% to 25.2%.

Excluding the impact of the items described above, adjusted net earnings(2) of $746 million and $2,465 million increased 10.5% and 12.3%, in the quarter and full year. Adjusted net earnings per diluted share(1) of $1.96 and $6.49 increased 10.1% and 11.9% in the quarter and full year.

2018 Outlook

We expect 2018 organic sales growth to be in the range of 6.0% to 6.5%. For 2018, we will adopt ASU 2014-09 Revenue from Contracts with Customers, which impacts the timing of revenue recognition and requires the presentation of certain costs previously reported as selling expenses as a reduction of revenue, both of which are not anticipated to be material. The reclassification of selling costs will result in a reduction of net sales, but has no impact on operating income or net earnings. We expect adjusted net earnings per diluted share(3) to be in the range of $1.57 to $1.62 in the first quarter and $7.07 to $7.17 in the full year. If foreign currency exchange rates hold near current levels, we expect net sales to be favorably impacted by approximately 1.0% for the full year. When considered along with our hedging program, we expect modest favorability in net earnings per diluted share in the first quarter and full year.

(1) A reconciliation of reported net earnings per diluted share to adjusted net earnings per diluted share, a non-GAAP financial measure, and other important information appears below.
(2) A reconciliation of reported net earnings to adjusted net earnings, a non-GAAP financial measure, and other important information appears below.
(3) A reconciliation of expected net earnings per diluted share to expected adjusted net earnings per diluted share for the first quarter and full year and other important information appears below.

 

Conference Call on Tuesday, January 30, 2018

As previously announced, Stryker will host a conference call on Tuesday, January 30, 2018 at 4:30 p.m., Eastern Time, to discuss the Company's operating results for the quarter and year ended December 31, 2017 and provide an operational update.

To participate in the conference call dial (844) 826-0610 (domestic) or (973) 453-3249 (international) and be prepared to provide confirmation number 2788919 to the operator.

A simultaneous webcast of the call will be accessible via the Company's website at www.stryker.com. The call will be archived on the Investors page of this site.

A recording of the call will also be available from 8:00 p.m., Eastern Time, on Tuesday, January 30, 2018, until 11:59 p.m., Eastern Time, on Tuesday, February 6, 2018. To hear this recording you may dial (855) 859-2056 (domestic) or (404) 537-3406 (international) and enter conference ID number 2788919.

 

Caution Concerning Forward-Looking Statements

This press release contains information that includes or is based on forward-looking statements within the meaning of the federal securities laws that are subject to various risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in such statements. Such factors include, but are not limited to: weakening of economic conditions that could adversely affect the level of demand for our products; pricing pressures generally, including cost-containment measures that could adversely affect the price of or demand for our products; changes in foreign exchange markets; legislative and regulatory actions; unanticipated issues arising in connection with clinical studies and otherwise that affect U.S. Food and Drug Administration approval of new products; changes in reimbursement levels from third-party payors; a significant increase in product liability claims; the ultimate total cost with respect to the Rejuvenate and ABG II matter; the impact of investigative and legal proceedings and compliance risks; resolution of tax audits; the impact of the federal legislation to reform the United States healthcare system; changes in financial markets; changes in the competitive environment; our ability to integrate acquisitions; and our ability to realize anticipated cost savings. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

Stryker is one of the world’s leading medical technology companies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes. More information is available at www.stryker.com.

For investor inquiries please contact:
Katherine A. Owen, Stryker Corporation, 269-385-2600 or katherine.owen@stryker.com

For media inquiries please contact:
Yin Becker, Stryker Corporation, 269-385-2600 or yin.becker@stryker.com

 
STRYKER CORPORATION
For the Three Months and Full Year Ended December 31
(Unaudited - Millions of Dollars, Except Per Share Amounts)
CONDENSED STATEMENTS OF EARNINGS
  Three Months   Full Year
  2017   2016   % Change   2017   2016   % Change
Net sales $ 3,471     $ 3,157     10.0 %   $ 12,444     $ 11,325     9.9 %
Cost of sales 1,232     1,071     15.0     4,271     3,830     11.5  
Gross profit $ 2,239     $ 2,086     7.4 %   $ 8,173     $ 7,495     9.0 %
% of sales 64.5 %   66.1 %       65.7 %   66.2 %    
Research, development and engineering expenses 205     189     8.8     787     715     10.2  
Selling, general and administrative expenses 1,217     1,093     11.3     4,552     4,137     10.0  
Recall charges 9     54     (83.3 )   173     158     9.5  
Intangible asset amortization 96     89     7.9     371     319     16.3  
Total operating expenses $ 1,527     $ 1,425     7.2 %   $ 5,883     $ 5,329     10.4 %
Operating income $ 712     $ 661     7.7 %   $ 2,290     $ 2,166     5.7 %
% of sales 20.5 %   20.9 %       18.4 %   19.1 %    
Other income (expense), net (63 )   (73 )   (13.7 )   (227 )   (245 )   (7.3 )
Earnings before income taxes $ 649     $ 588     10.3 %   $ 2,063     $ 1,921     7.4 %
Income Taxes 898     78     1,051.3     1,043     274     280.7  
Net (loss) earnings $ (249 )   $ 510     (148.9 )%   $ 1,020     $ 1,647     (38.1 )%
Net (loss) earnings per share of common stock:                      
Basic $ (0.66 )   $ 1.36     (148.5 )%   $ 2.73     $ 4.40     (38.0 )%
Diluted $ (0.66 )   $ 1.34     (149.3 )%   $ 2.68     $ 4.35     (38.4 )%
Weighted-average shares outstanding - in millions:                      
Basic 374.4     374.5         374.0     374.1      
Diluted 380.9     379.1         380.1     378.5      
 
CONDENSED BALANCE SHEETS
  December
  2017   2016
Assets      
Cash and cash equivalents $ 2,542     $ 3,316  
Marketable securities 251     68  
Accounts receivable, net 2,198     1,967  
Inventories 2,465     2,030  
Other current assets 537     480  
Total current assets $ 7,993     $ 7,861  
Property, plant and equipment, net 1,975     1,569  
Goodwill and other intangibles, net 10,631     9,864  
Other assets 1,584     1,141  
Total assets $ 22,183     $ 20,435  
Liabilities and shareholders' equity      
Current liabilities $ 3,289     $ 2,554  
Accrued recall expenses 196     594  
Other noncurrent liabilities 2,114     1,051  
Long-term debt, excluding current maturities 6,590     6,686  
Shareholders' equity 9,994     9,550  
Total liabilities and shareholders' equity $ 22,183     $ 20,435  
 
CONDENSED STATEMENTS OF CASH FLOWS
  2017   2016
Operating activities      
Net earnings $ 1,020     $ 1,647  
Depreciation 271     227  
Amortization of intangible assets 371     319  
Changes in operating assets and liabilities and other, net (103 )   (278 )
Net cash provided by operating activities $ 1,559     $ 1,915  
Investing activities      
Acquisitions, net of cash acquired $ (831 )   $ (4,332 )
Purchases of property, plant and equipment (598 )   (490 )
Change in marketable securities, net (183 )   634  
Other investing, net (1 )   (3 )
Net cash (used in) provided by investing activities $ (1,613 )   $ (4,191 )
Financing activities      
Borrowings/repayments of debt, net $ 299     $ 2,912  
Dividends paid (636 )   (568 )
Repurchase of common stock (230 )   (13 )
Payments to purchase noncontrolling interest (99 )   -  
Other financing (128 )   (73 )
Net cash (used in) provided by financing activities $ (794 )   $ 2,258  
Effect of exchange rate changes on cash and cash equivalents 74     (45 )
Change in cash and cash equivalents $ (774 )   $ (63 )
 
STRYKER CORPORATION
Three Months and Full Year Ended December 31
(Unaudited - Millions of Dollars)
CONDENSED SALES ANALYSIS
  Three Months   Full Year
      % Change       % Change
  2017 2016 As Reported Constant
Currency
  2017 2016 As Reported Constant
Currency
Geographic:                  
United States $ 2,513   $ 2,325   9.3 % 9.3 %   $ 9,059   $ 8,247   10.1 % 10.1 %
International 958   832   11.7   7.3     3,385   3,078   9.4   9.0  
Total $ 3,471   $ 3,157   10.0 % 8.7 %   $ 12,444   $ 11,325   9.9 % 9.8 %
Segment:                  
Orthopaedics $ 1,305   $ 1,206   8.1 % 6.8 %   $ 4,713   $ 4,422   6.6 % 6.5 %
MedSurg 1,580   1,425   10.9   9.8     5,557   4,894   13.6   13.4  
Neurotechnology and Spine 586   526   11.5   10.3     2,174   2,009   8.2   8.3  
Total $ 3,471   $ 3,157   10.0 % 8.7 %   $ 12,444   $ 11,325   9.9 % 9.8 %
 
SUPPLEMENTAL SALES GROWTH ANALYSIS
  Three Months
      Percentage Change
          United States International
  2017 2016 As Reported Constant Currency As Reported As Reported Constant Currency
Orthopaedics:              
Knees $ 446   $ 405   9.9 % 8.8 % 10.5 % 8.4 % 4.3 %
Hips 348   334   4.4   3.2   3.5   6.0   2.6  
Trauma and Extremities 408   366   11.2   9.4   11.5   10.6   6.1  
  Other 103   101   2.3   1.5   2.1   3.1   (1.5 )
  $ 1,305   $ 1,206   8.1 % 6.8 % 8.1 % 8.2 % 4.1 %
MedSurg:              
Instruments $ 488   $ 431   13.4 % 12.4 % 13.5 % 13.0 % 8.8 %
Endoscopy 469   421   11.3   10.2   13.1   5.6   1.1  
Medical 556   511   8.5   7.1   6.3   16.4   10.0  
Sustainability 67   62   10.9   10.8   10.9   0.5   (3.4 )
  $ 1,580   $ 1,425   10.9 % 9.8 % 10.7 % 11.8 % 6.7 %
Neurotechnology and Spine:              
Neurotechnology $ 387   $ 331   17.2 % 15.8 % 12.9 % 24.9 % 20.8 %
Spine 199   195   2.0   1.0   0.4   6.9   2.9  
  $ 586   $ 526   11.5 % 10.3 % 7.8 % 19.7 % 15.6 %
Total $ 3,471   $ 3,157   10.0 % 8.7 % 9.3 % 11.7 % 7.3 %
 
  Full Year
      Percentage Change
          United States International
  2017 2016 As Reported Constant Currency As Reported As Reported Constant Currency
Orthopaedics:              
Knees $ 1,595   $ 1,490   7.0 % 6.9 % 7.4 % 5.9 % 5.5 %
Hips 1,303   1,283   1.6   1.8   2.0   0.9   1.4  
Trauma and Extremities 1,478   1,364   8.3   8.2   11.0   3.8   3.5  
Other 337   285   18.0   17.6   17.9   18.6   16.4  
  $ 4,713   $ 4,422   6.6 % 6.5 % 7.8 % 4.0 % 3.8 %
MedSurg:              
Instruments $ 1,678   $ 1,553   8.1 % 8.0 % 8.1 % 7.9 % 7.5 %
Endoscopy 1,652   1,470   12.4   12.0   14.2   6.3   5.0  
Medical 1,969   1,633   20.5   20.4   17.7   31.4   30.4  
Sustainability 258   238   8.9   8.9   8.9   26.2   24.4  
  $ 5,557   $ 4,894   13.6 % 13.4 % 13.2 % 15.1 % 14.1 %
Neurotechnology and Spine:              
Neurotechnology $ 1,423   $ 1,255   13.4 % 13.4 % 11.2 % 17.4 % 17.3 %
Spine 751   754   (0.4 ) (0.4 ) (0.6 ) 0.1   0.2  
  $ 2,174   $ 2,009   8.2 % 8.3 % 6.3 % 12.4 % 12.4 %
Total $ 12,444   $ 11,325   9.9 % 9.8 % 10.1 % 9.4 % 9.0 %
 

SUPPLEMENTAL INFORMATION - RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

We supplement the reporting of our financial information determined under accounting principles generally accepted in the United States (GAAP) with certain non-GAAP financial measures, including percentage sales growth in constant currency; percentage organic sales growth; adjusted gross profit; cost of sales excluding specified items; adjusted selling, general and administrative expenses; adjusted operating income; adjusted effective income tax rate; adjusted net earnings; and adjusted net earnings per diluted share. We believe that these non-GAAP measures provide meaningful information to assist investors and shareholders in understanding our financial results and assessing our prospects for future performance. Management believes percentage sales growth in constant currency and the other adjusted measures described above are important indicators of our operations because they exclude items that may not be indicative of or are unrelated to our core operating results and provide a baseline for analyzing trends in our underlying businesses. Management uses these non-GAAP financial measures for reviewing the operating results of reportable business segments and analyzing potential future business trends in connection with our budget process and bases certain management incentive compensation on these non-GAAP financial measures.

To measure percentage sales growth in constant currency, we remove the impact of changes in foreign currency exchange rates that affect the comparability and trend of sales. Percentage sales growth in constant currency is calculated by translating current and prior year results at the same foreign currency exchange rate. To measure percentage organic sales growth, we remove the impact of changes in foreign currency exchange rates and acquisitions that affect the comparability and trend of sales. Percentage organic sales growth is calculated by translating current year results at prior year average foreign currency exchange rates excluding the impact of acquisitions. To measure earnings performance on a consistent and comparable basis, we exclude certain items that affect the comparability of operating results and the trend of earnings.

Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names. These adjusted financial measures should not be considered in isolation or as a substitute for reported sales growth, gross profit, selling, general and administrative expenses, operating income, effective income tax rate, net earnings and net earnings per diluted share, the most directly comparable GAAP financial measures. These non-GAAP financial measures are an additional way of viewing aspects of our operations that, when viewed with our GAAP results and the reconciliations to corresponding GAAP financial measures below, provide a more complete understanding of our business. We strongly encourage investors and shareholders to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. The following reconciles the non-GAAP financial measures discussed above with the most directly comparable GAAP financial measures:

STRYKER CORPORATION
Three Months and Year December 31
(Unaudited - Millions of Dollars, Except Per Share Amounts)
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO THE MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURES
Three Months 2017 Gross Profit Selling, General & Administrative Expenses Amortization of Intangible Assets Operating Income Net Earnings Effective
Tax Rate
Diluted EPS
Reported $ 2,239   $ 1,217   $ 96   $ 712   $ (249 ) 138.4 % $ (0.66 )
Acquisition and integration related charges: (a)              
Inventory stepped up to fair value 20   -   -   20   18   (0.2 ) 0.04  
Other acquisition and integration related -   (15 ) -   15   11   0.3   0.04  
Amortization of purchased intangible assets -   -   (96 ) 96   60   3.1   0.17  
Restructuring-related and other charges (b) 45   (30 ) -   75   60   0.4   0.16  
Rejuvenate and other recall matters (c) -   -   -   9   8   (0.1 ) 0.01  
Legal matters (d) -   (9 ) -   9   5   0.3   0.01  
Tax Matters (e) -   -   -   -   833   (126.1 ) 2.19  
Adjusted $ 2,304   $ 1,163   $ -   $ 936   $ 746   16.1 % $ 1.96  
 
Three Months 2016 Gross Profit Selling, General & Administrative Expenses Amortization of Intangible Assets Operating Income Net Earnings Effective
Tax Rate
Diluted EPS
Reported $ 2,086   $ 1,093   $ 89   $ 661   $ 510   13.3 % $ 1.34  
Acquisition and integration related charges: (a)              
Inventory stepped up to fair value (1 ) -   -   (1 ) -   (0.1 ) -  
Other acquisition and integration related -   (12 ) -   12   8   0.3   0.01  
Amortization of purchased intangible assets -   -   (89 ) 89   61   2.2   0.17  
Restructuring-related and other charges (b) 8   (50 ) -   58   44   0.7   0.12  
Rejuvenate and other recall matters (c) -   -   -   54   44   0.1   0.12  
Tax Matters (e) -   -   -   -   8   0.2   0.02  
Adjusted $ 2,093   $ 1,031   $ -   $ 873   $ 675   16.7 % $ 1.78  
 
Full Year 2017 Gross Profit Selling, General & Administrative Expenses Amortization of Intangible Assets Operating Income Net Earnings Effective
Tax Rate
Diluted EPS
Reported $ 8,173   $ 4,552   $ 371   $ 2,290   $ 1,020   50.6 % $ 2.68  
Acquisition and integration related charges: (a)              
Inventory stepped up to fair value 22   -   -   22   20   (0.1 ) 0.05  
Other acquisition and integration related -   (42 ) -   42   31   0.2   0.09  
Amortization of purchased intangible assets -   -   (371 ) 371   250   3.0   0.67  
Restructuring-related and other charges (b) 57   (137 ) -   194   155   0.4   0.41  
Rejuvenate and other recall matters (c) -   -   -   173   131   0.7   0.34  
Legal matters (d) -   (39 ) -   39   25   0.4   0.06  
Tax Matters (e) -   -   -   -   833   (39.6 ) 2.19  
Adjusted $ 8,252   $ 4,334   $ -   $ 3,131   $ 2,465   15.6 % $ 6.49  
 
Full Year 2016 Gross Profit Selling, General & Administrative Expenses Amortization of Intangible Assets Operating Income Net Earnings Effective
Tax Rate
Diluted EPS
Reported $ 7,495   $ 4,137   $ 319   $ 2,166   $ 1,647   14.3 % $ 4.35  
Acquisition and integration related charges: (a)              
Inventory stepped up to fair value 36   -   -   36   23   0.4   0.06  
Other acquisition and integration related -   (95 ) -   95   77   0.1   0.20  
Amortization of purchased intangible assets -   -   (319 ) 319   221   2.2   0.59  
Restructuring-related and other charges (b) 15   (110 ) -   125   98   0.3   0.26  
Rejuvenate and other recall matters (c) -   -   -   158   127   0.1   0.34  
Legal matters (d) -   12   -   (12 ) (7 ) (0.2 ) (0.02 )
Tax Matters (e) -   -   -   -   8   0.1   0.02  
Adjusted $ 7,546   $ 3,944   $ -   $ 2,887   $ 2,194   17.3 % $ 5.80  
 
STRYKER CORPORATION
Three Months March 31 and Full Year 2018
RECONCILIATION OF EXPECTED NET EARNINGS PER DILUTED SHARE TO EXPECTED ADJUSTED NET EARNINGS PER DILUTED SHARE
  Three Months   Full Year
  Low High   Low High
Expected - Reported $ 1.25   $ 1.35     $ 5.85   $ 6.10  
Acquisition and integration related charges (a) 0.05   0.04     0.12   0.07  
Amortization of purchased intangible assets 0.21   0.19     0.89   0.84  
Restructuring-related and other charges (b) 0.06   0.04     0.21   0.16  
Rejuvenate and other recall matters (c) -   -     -   -  
Expected - Adjusted $ 1.57   $ 1.62     $ 7.07   $ 7.17  
           
Expected blended effective tax rate 17.5% 16.5%   17.5% 16.5%
Expected weighted average diluted shares outstanding 380.1   380.2
 
(a) Charges represent certain acquisition and integration related costs associated with acquisitions.
(b) Charges represent the cost associated with certain restructuring-related charges associated with the termination of sales relationships in certain countries, workforce reductions, elimination of product lines, hurricanes and other restructuring-related activities.
(c) Charges represent changes in our best estimate of the minimum end of the range of probable loss to resolve the Rejuvenate and ABG II recall and other recall matters.
(d) Amount represents gains or losses associated with legal settlements.
(e) Charges represent the impact of accounting for the compliance with the Tax Cuts and Jobs Act of 2017, certain significant and discrete tax items, and adjustments to interest expense related to the settlement of certain tax matters.
 
 
 
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Stryker Corporation via Globenewswire
Investor Contacts
Katherine A. Owen
Vice President, Strategy & Investor Relations
Stryker Corporation
2825 Airview Boulevard
Kalamazoo, MI 49002
269-385-2600