Table of Contents :
• Stock Rating & Target Price
• Investment Thesis
• Fundamental Models Used
• Company Description
• Corporate Timeline
• Key Metrics (KPI ) and Recently Reported Earnings Review
• Business Highlights, Strategic Announcements & Outlook
• Quarter-over-Quarter (Q-o-Q) and Year-over-Year (Y-o-Y) Growth Analysis
• Key Catalysts Driving Growth
• Historical Financial Statement Analysis & CAGR Trends
• Quarterly Key Financial Ratios and Performance Metrics
• Annual Financial Performance Analysis: Horizontal and Vertical Financial Analysis, Trends
• Financial Forecasts
• Annual Forecasts: Income Statement
• Annual Forecasts: Cash Flow Statements
• Net Debt Levels
• A Closer Look at DCF: Our Assumptions and Methodology
• Terminal Value Calculation
• Target Price Analysis
• Valuation Multiples
• Supplementary Valuation Analysis: Multiples Approach
• Scenario/Sensitivity Analysis – Base Case , Bull Case ,Bear Case
• Holistic Peer Review & Trading Comps: Financial Data, Operational Metrics, and Valuation Multiples
• Implied Price Per Share
• Ownership Activity/ Insider Trades
• Ownership Summary
• An analysis of ESG Risk Rating
• Key Professionals
• Key Board Members
• Key Risks Considerations
• Analyst Ratings
• Analyst Industry Views
• Disclosures
Stryker Corporation (SYK): Orthopedic Business Leaving Rivals to the Dust—What’s with the Innovation & M&A fueling its Multi-Segment Leadership, Outlook & its Key Catalysts ?
Stryker delivered a strong Q3 2024, with 11.5% organic sales growth driven by MedSurg & Neurotechnology (+12.7%) and Orthopaedics & Spine (+9.7%). Revenue reached $5.49B, beating estimates by $120.72M, while adjusted EPS of $2.87 (+16.7% YoY) exceeded expectations by $0.10. MedSurg growth was fueled by strong demand for Surgical Technologies and LIFEPAK 35 products, while Orthopaedics benefited from Mako-driven cementless adoption and procedural growth in Hips (+10.9%) and Knees (+8.4%). However, GAAP EPS of $2.16 missed by $0.18, reflecting FX headwinds and supply chain pressures, particularly in Neurovascular. Stryker’s $1.6B in YTD acquisitions, including Vertos Medical and care.ai, targets high-growth areas like pain management and digital health, with ~$300M in expected 2025 sales. Adjusted operating margins expanded 130 bps to 24.7%, driven by pricing tailwinds and SG&A leverage. International growth of 11.7% highlights further penetration opportunities in underrepresented regions. Management tightened 2024 sales growth guidance to 9.5%-10% and raised EPS guidance to $12.00-$12.10, reflecting procedural momentum and disciplined cost initiatives. With record Mako installations, emerging innovation pipelines, and geographic expansion, Stryker remains well-positioned for durable outperformance. The key question: Can Stryker sustain its leadership across segments while overcoming supply chain challenges and intensifying competition in key verticals?
