What were the key takeaways from Stryker’s earnings call?

What is Stryker's latest dividend and current dividend yield?

What is the market's earnings forecast for Stryker next quarter?

What guidance did Stryker's management provide for the next earnings period?

What does Stryker do and what are its main business segments?

What factors drove the changes in Stryker's revenue and profit?

Did Stryker beat or miss consensus estimates last quarter?

What is the revenue and EPS growth rate for Stryker year over year?

- **Top Line Growth**: 9.5% organic sales beat driven by Ortho (11.4%), Neuro (12.9%), and MedSurg (7.9%).
- **Margin Expansion**: 25.6% adjusted operating margin, up 90bps YoY, with 200+ bps+ long-term target.
- **Acquisition Momentum**: 2 tuck-in deals to strengthen surgical instruments, with Inari integration on track for 10%+ 2025 growth.
- **Tariff Risk**: $200M full year impact, mostly in Q4, but no material impact to Q3 results.
- **Q4 Guidance**: 9.8-10.2% organic growth, $13.50-13.60 EPS (vs. $13.35-13.55 prior).

**【CEO Summary Section】**
- **Revenue Growth**: Organic sales growth of 9.5% year-over-year, driven by double-digit growth in Orthopedics (11.4%) and Neurotechnology (12.9%).
- **Strategic Acquisitions**: Completed 2 small tuck-in acquisitions (Guard Medical and Advanced Medical Balloons) to enhance surgical instrument portfolios.
- **Margin Expansion**: Committed to achieving 200+ basis points of operating margin expansion over the long term, with Q3 adjusted operating margin at 25.6%.
- **Inari Integration**: Pro forma organic sales growth of 10% in Q3, with plans for full year 2025 guidance of 10%+ growth.

**【CFO Financial Commentary】**
- **Financial Performance**: Q3 GAAP net income $420M, Non-GAAP EPS $1.08 (vs. $0.95 consensus). Adjusted EBITDA margin 22.3%.
- **Cash Flow**: Year-to-date cash from operations $2.9B, up 12% YoY.
- **Tariff Impact**: Full year 2025 tariff impact estimated at $200M, primarily affecting Q4.
- **Guidance Update**: Full year 2025 organic sales growth 9.8-10.2%, adjusted EPS $13.50-13.60 (vs. prior $13.35-13.55).

**【Q&A Highlights】**
- **Procedure Volumes**: Strong procedural growth across Ortho (Mako installations up 38.5%), MedSurg (7.9% growth), and Neuro (12.9% growth).
- **Pricing Strategy**: Positive pricing trends in all segments, with MedSurg seeing 0.4% favorable impact in Q3.
- **Supply Chain**: Ongoing medical device supply chain disruptions, but no material impact on Q3 results.
- **Investor Day**: November 13 event to detail long-term strategy and 2026+ outlook.

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