Stryker Medical Corporation is an American medical device that does business in over 100 countries. The company specializes in designing, manufacturing, and marketing medical implants, devices, and other equipment. Its most popular products include knee and hip replacement implants, endoscopy and communication systems, operating room equipment, and spinal devices. In the reconstructive orthopedic implants market, Stryker consistently ranks among the top 3 companies. Stryker Corporation earns slightly less than 75% of its revenue from the US with the rest coming from international markets.
Stryker 3Q2020 Results Are A Positive
Stryker Corporation reported its 3Q2020 earnings results in October 2020. Revenues were up from around $3.58 billion in 3Q2019 to $3.73 billion in 3Q2020. Operating income was slightly down from $1.7 billion in 3Q2019 to $1.6 billion in 3Q2020. Earnings per share rose from $1.23 in the third quarter of 2019 to $1.63 in the third quarter of 2020. In general, all the segments showed a growth in the US market sales.
Stryker Corporation’s stock has been on a strong uptrend in December 2020. It is up more than 6% for the month. The last 5 years, meanwhile, have seen the stock rise from around $87 to $245 – an almost 3X growth. The company currently pays a 1% dividend yield as well.
In comparison, Boston Scientific Corporation’s stock closed at $35.95 on 31st December 2020. The stock has gained 5.2% in the last month of 2020. On a longer 5-year horizon, the stock has doubled from around $17 to $35. Currently, Boston Scientific is not paying a dividend.
Another medical device stock that has been on a roll is Zimmer Biomet. Its stock closed at $154 on the last day of the year 2020, having gained more than 4% over the preceding 30 days. The stock has gone from $100 in 2015 to $154. However, since the March market crash, Zimmer Biomet has gained 79%.