Stryker reports operating results for 2016, outlook for 2017

Stryker Corporation announced its operating results from the fourth quarter and full year of 2016 and its outlook for 2017.

“I am pleased with our performance in both the fourth quarter and the full year 2016,” Kevin A. Lobo, chairman and chief executive officer, said in the release. “Fourth-quarter organic sales growth of 6.7% versus a strong prior year is impressive and was balanced across Orthopedics, MedSurg and Neurotechnology and Spine. In addition, we executed well on acquisitions and delivered leveraged adjusted earnings gains. We enter 2017 with good momentum across our businesses and look forward to building on this success.”

For the fourth quarter and full year of 2016, the company reported increases of 16.2% and 13.9% in the consolidated net sales of $3.2 billion and $11.3 billion, respectively, for those periods. Net sales reportedly increased by 6.7% in the fourth quarter and by 6.4% for the full year in constant currency, despite the impact of acquisitions.

Stryker reported orthopedic net sales in the fourth quarter increased by 5.3% from $1.2 billion and results for the full year in that division increased by 4.7% from $4.4 billion and constant currency increased by 5.7% and 5.1%, respectively.

In the fourth quarter of 2016, reported net earnings were $510 million (a 2.3% decrease). Within the full year, reported net earnings increased 14.5% to $1.6 billion. The net earnings per diluted share in the fourth quarter and full year of 2016 were $1.34 (a 2.9% decrease) and $4.35 (a 15.1% increase), respectively.

The company anticipates organic sales growth in 2017 to increase 5.5% to 6.5%, with adjusted net earnings per diluted share in the first quarter to be within $1.40 and $1.45 and to be between $6.35 and $6.45 in the full year.

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