Stryker on Jan. 30 posted fourth quarter and full year revenue gains in 2023.
Five things to know:
1. Fourth quarter sales were up 11.8% year-over-year with $5.8 billion. Full-year sales were $20.5 billion, an 11.1% increase from 2022.
2. Orthopedic sales in the fourth quarter were $2.4 billion, an 11% increase year-over-year. Hip sales were $414 million, and knee sales were $630 million.
3. Spine sales in the fourth quarter were $318 million. For the full year, spine sales were $1.2 billion.
4. Full year orthopedic sales were $8.7 billion, up 10.5% compared to 2022. Medsurg and Neurotechnology sales in 2023 were $11.8 billion, up 11.5% compared to 2022.
5. Stryker expects to see 7.5% to 9% increases in 2024 revenue compared to 2023. This is based on procedural volumes, demand for capital products and "stabilizing macro-economic
environment," according to a news release.