Stryker beats quarterly estimates of string medical device demand
May 1 (Reuters) - Stryker (SYK.N), opens new tab beat Wall Street estimates for quarterly profit on Thursday, fueled by strong demand for its medical and surgical devices.
Device makers have benefited from a surge in demand as more people in the U.S., particularly older Americans, sought health care services and surgical procedures.
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The Portage, Michigan-based company expects the demand for surgical procedures to continue through the year-end, but expects a tariff impact of about $200 million in 2025.
"We expect to offset tariff costs through our continued sales momentum, the leveraging of our manufacturing footprint, disciplined spending and better than expected foreign currency impacts," Chief Financial Officer Preston Wells said.
Stryker revised its 2025 profit outlook to between $13.20 and $13.45 per share, down from the previous $13.45 to $13.70 range, which had excluded a 20-30 cent impact from its acquisition of Inari Medical.
Analysts expect a profit of $13.35 per share, according to data compiled by LSEG.
Sales at Stryker's medical surgery and neurotechnology unit rose 13.4% to $3.5 billion, while sales at its orthopedics segment increased 9.7% to $2.4 billion.
The company, which makes implants used in joint replacement and trauma surgeries, said it saw some supply disruptions in the quarter which would linger through the next quarter
Total revenue was $5.9 billion for the quarter ended March 31, above analysts' expectations of $5.7 billion.
On an adjusted basis, the company earned $2.84 per share, beating estimates of $2.70 per share.
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