Stryker Corporation is among the leading medical companies in the world. It has a strong reputation for offering innovative products in orthopedics, medical and surgical equipment, and neurotechnology. Healthcare companies have had a strong run during the last few months as the pandemic raged on throughout the world. Investors looking for the best healthcare stock to invest in might want to take a closer look at Stryker Corporation. Stryker was founded back in 1941 in Michigan and does business in 75 countries today. The company also has offerings like the Mako Robotic-Arm Assisted technology in the emerging field of robotic surgery.
The Business Segments Of Stryker Corporation
Stryker Corporation has three business segments: Orthopaedics, Spine and Neurotechnology, and MedSurg. In the year 2020, the Orthopaedics segment accounted for 34% of total revenues, the Spine and Neurotechnology segment brought in 21% of total revenues, while the MedSurg segment was the largest with 45% of overall revenues.
The orthopedics segment consists of the knee, hip, and shoulder implants. These are used in normal as well as trauma and extremities surgeries. The Spine and Neurotechnology segment includes products like spinal implants as well as neurovascular, neurosurgical, and craniomaxillofacial devices. The MedSurg segment consists of endoscopy systems, surgical equipment, patient and medical professional safety technologies, navigation systems, and patient handling products. Stryker has a presence in multiple segments and, therefore, is not significantly affected by cycles in any one segment. Seasonality, however, does exist with orthopedic implants happening less in the summer months and capital equipment sales going higher in the fourth quarter. Stryker is among the top medical stocks to buy now.
Stryker Corporation’s stock has been on a downtrend lately. It closed at $229.43 on 23rd March 2021 after having dropped 7.8% over the preceding 30 days. At the time, the stock was trading at a 1.1% dividend yield. On a 1-year basis, the performance is better at 60% growth.