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

Did Stryker beat or miss consensus estimates last quarter?

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

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

What is Stryker's gross profit margin?

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

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

- **Record 2025 Performance**: 10.3% organic growth, $25B+ revenue, 11% EPS expansion; 2026 guidance for 8-9.5% growth and $14.90-$15.10 EPS.
- **Mako Dominance**: 3,000+ installations, 67% Knee/33% Hip utilization (U.S.); Shoulder/Spine applications launching mid-2026.
- **MedSurg Innovation**: 12.6% Q4 growth driven by Acute Care and Surgical Technologies; SmartCare business unit (Vocera + care.ai) on track.
- **Tariff Resilience**: $400M 2026 impact offset by pricing, mix, and cost savings; 100+ basis points margin expansion maintained.
- **Robotics Expansion**: Handheld RPS launch in Q1 2026; Mako 4 upgrades generating incremental revenue.

**【CEO Summary Section】**
- Stryker achieved record 2025 results with 11% Q4 and 10.3% full-year organic sales growth, surpassing $25 billion in total sales.
- Key growth drivers: Neurocranial, Endoscopy, Instruments, and Trauma divisions; U.S. sales up 11.2%, international markets led by emerging regions and Japan.
- 2026 outlook: 8-9.5% organic growth, $14.90-$15.10 EPS guidance; confidence in 5th consecutive year of double-digit growth.
- Strategic initiatives: SmartCare business unit (Vocera + care.ai), breast care sales force expansion, and Mako 4 robotic platform launches.

**【CFO Financial Commentary】**
- 2025 financial highlights: $4.47 Q4 adjusted EPS (11.5% YoY), 100+ basis points operating margin expansion, $5 billion cash flow.
- 2026 guidance: 8-9.5% sales growth, $14.90-$15.10 EPS; $400 million tariff impact offset by pricing and margin management.
- Segment performance: MedSurg/Neurotech up 12.6%, Endoscopy 11.1%, Ortho 8.4%; Mako Knee/Hip utilization rates 67%/33% (U.S.), 50%/20% (global).
- Free cash flow target: 70-80% of net earnings, up from 75% in 2025.

**【Q&A Key Highlights】**
- **Mako Momentum**: 3,000+ installations, record Q4 utilization; Shoulder/Spine applications launching mid-2026.
- **MedSurg Growth**: 12.6% Q4 driven by Acute Care, Sage, and Surgical Technologies; minimal destocking in Q1 2026.
- **Tariff Management**: $200M incremental 2026 impact; offset by pricing, mix, and cost savings.
- **Robotics Strategy**: Handheld RPS launch in Q1 2026; Mako 4 software upgrades generating incremental revenue.
- **Competitive Landscape**: Confident in market leadership; no material impact from J&J spinout or Penumbra acquisition.
- **ASC Growth**: 15-20% of Knee/Hip procedures in ASCs; Triathlon Gold implant fills 5% market gap for metal-sensitive patients.


Stryker Corporation (SYK) Q4 2025 Earnings Call Transcript

- **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.

Stryker Corporation (SYK) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: 10.2% organic sales, 11.4% EPS growth, driven by MedSurg, Neurotech, and Orthopedics.
- **Margin Expansion**: 120bps gross margin improvement, 110bps operating margin expansion.
- **Mako Momentum**: 2M procedures, record Q2 installations, spine/shoulder launches on track.
- **Tariff Mitigation**: $175M annual impact offset by operational efficiency and FX.
- **NRE Recovery**: Double-digit 2025 growth expected despite Q2 destocking.
- **China Focus**: Long-term growth strategy with localized product experimentation.

**【CEO Opening Remarks】**
- **Q2 2025 Results**: Organic sales growth of 10.2%, adjusted EPS up 11.4%, driven by strong demand across MedSurg, Neurotech, and Orthopedics.
- **Geographic Performance**: U.S. growth of 11.5% (double-digit in Endoscopy, Trauma, and Instruments), international growth of 6.5% (notable contributions from South Korea and emerging markets).
- **Strategic Focus**: Continued investment in innovation, M&A pipeline, and operational execution. Full-year guidance raised to 9.5-10% organic sales growth and $13.40-$13.60 EPS.

**【CFO Financial Commentary】**
- **Financial Highlights**: Adjusted EPS of $3.13 (11.4% YoY), gross margin 65.4% (120bps improvement), operating margin 25.7% (110bps expansion).
- **Segment Performance**: MedSurg/Neurotech up 11% (U.S. 12.5%, intl 5.7%), Orthopedics up 9% (U.S. 9.7%, intl 7.5%).
- **Tariff Impact**: $175M annualized, offset by sales momentum, manufacturing efficiency, and FX benefits.

**【Q&A Highlights】**
- **Supply Chain Challenges**: MedSurg delays expected to persist, but 2025 growth still on track. LIFEPAK 35 Europe launch in Q3.
- **Mako Robot Momentum**: 2M robotic procedures, Q2 installations record high. Spine and shoulder launches on track, intl adoption accelerating.
- **NRE Integration**: Double-digit 2025 growth expected despite Q2 destocking. Surf acquisition anniversary shows strong hip growth.
- **Tariff Outlook**: $175M annual impact, back-half loaded due to inventory flow-through. FX neutral to slightly positive.
- **Robotics Pipeline**: No new form factors planned; focus on adding applications to Mako platform.
- **China Strategy**: Under-indexed but committed to long-term growth, experimenting with localized products.


Stryker Corporation (SYK) Q2 2025 Earnings Call Transcript

- **Q1 Growth Beats Expectations**: 10.1% organic sales growth, driven by MedSurg & Neurotech (10.7%) and Trauma & Extremities (15.2%).
- **Margin Expansion**: Gross margin +190bps to 65.5%, operating margin +100bps to 22.9%.
- **Tariff Resilience**: $200M tariff impact offset by pricing, cost savings, and FX, with 2025 guidance maintained.
- **Mako Momentum**: Record Q1 Mako installations, with Spine & Shoulder launches planned for 2025H2.
- **International Expansion**: Japan, Europe, and Australia leading 8.5% international sales growth.
- **Inari Synergies**: Vascular division outperforming, with pipeline innovations and commercial alignment.


**【CEO Opening Remarks】**
- Q1 organic sales growth of 10.1%, driven by double-digit growth in MedSurg & Neurotechnology and high-single-digit growth in Orthopedics.
- Adjusted EPS of $2.84, up 13.6% YoY, supported by strong sales and margin expansion.
- Full-year guidance raised to 8.5%-9.5% organic sales growth and $13.20-$13.45 EPS, despite tariffs and Inari dilution.
- Emphasis on international markets as a growth catalyst, with notable strength in Australia, Japan, and Europe.

**【Jason Beach - Market & Product Updates】**
- Robotic-assisted surgery adoption strong, with Mako installations at record levels in Q1.
- LIFEPAK 35 defibrillator seeing robust demand, with international launches planned for Europe and Japan.
- Pangea plating system driving Trauma & Extremities growth, with 15.2% U.S. organic sales growth.
- Inari Medical acquisition integration progressing well, with vascular division performance exceeding expectations.

**【CFO Financial Details】**
- Q1 gross margin improved 190bps to 65.5%, driven by manufacturing efficiencies and pricing.
- Operating margin expanded 100bps to 22.9%, despite higher SG&A due to Inari and tariffs.
- Tariff impact estimated at $200M for 2025, partially offset by pricing, cost savings, and FX.
- Full-year effective tax rate expected at 15%-16%, with cash flow management supporting M&A activity.

**【Q&A Highlights】**
- **Tariff Mitigation**: Tariffs expected to impact Q3/Q4, with offset strategies including pricing, supply chain optimization, and FX hedging.
- **Orthopedics Momentum**: U.S. hip and knee businesses growing 7.6% and 8.3% organically, fueled by Mako adoption and new product launches.
- **International Growth**: Japan and Europe leading international expansion, with MedSurg & Neurotech up 8.2% YoY.
- **Inari Integration**: Early success in vascular division, with cultural alignment and pipeline synergies being key drivers.


Stryker (SYK)-1 May 25-2025 Q1 Earnings call transcript

- **Record 2024 Performance**: 10.2% organic sales growth, 15% EPS growth, and 110bps margin expansion.\n- **Strategic Adjustments**: Sold spinal implants to VEB Brothers, focusing on high-growth enabling technologies.\n- **Inari Acquisition**: $4.9B deal to enter $15B VTE market, with 10-month sales of $590M.\n- **Mako Leadership**: 67% of U.S. knees performed robotically, expanding globally.\n- **2025 Outlook**: 8-9% sales growth, $13.45-$13.70 EPS, and continued margin expansion.\n- **R&D Investment**: 6-7% of sales driving double-digit price gains and new product launches.\n

**【CEO Summary Section】**
- **2024 Year-End Performance**: Organic sales growth of 10.2% (Q4: 10.2%, Full Year: 10.2%), with U.S. growth at 10.6% and international at 8.8%. Adjusted EPS of $12.19, up 15% YoY.\n- **Strategic Acquisitions**: Completed 7 acquisitions in 2024, driving double-digit growth across instruments, endoscopy, and medical businesses.\n- **2025 Guidance**: Organic sales growth of 8-9%, adjusted EPS of $13.45-$13.70.\n- **Portfolio Adjustments**: Sold spinal implants business to VEB Brothers, focusing on enabling technologies (e.g., Mako Spine) and Interventional Spine.\n- **Mako Momentum**: U.S. knee robotic-assisted procedures at 67% (Q4), hip at 33%. Global knee adoption at 45%, hip at 20%.\n- **New Product Launches**: LIFEPAK 35 defibrillator, Pangea plating system, and Mako Shoulder (limited launch Q2 2025).\n
**【CFO Financial Commentary】**
- **Q4 2024 Results**: Organic sales growth of 10.2%, adjusted EPS of $4.01 (+16% YoY). Full year adjusted operating margin expanded 110bps to 25.3%.\n- **Inari Acquisition**: $4.9B purchase price, 10-month sales contribution of $590M (constant currency). Dilutive to op margin by 0-20bps, EPS by $0.20-$0.30.\n- **Spine Divestiture**: Impact absorbed into 2025 guidance, with no material EPS impact.\n- **2025 Financials**: Other income/expense of $260M, tax rate 15-16%, capital spending $800-850M.\n
**【Q&A Key Themes】**\n- **Spine Sale**: VEB Brothers to focus on implants, while Stryker retains enabling tech (e.g., Copilot, Mako Spine).\n- **Inari ROIC**: Target 5-7 year return, with accretion post-12-month comparable period.\n- **M&A Pipeline**: Continued focus on peripheral vascular, urology, neuromodulation, and health IT.\n- **Market Growth Drivers**: Robotic-assisted surgery, capital spending, and demographic trends.\n- **R&D Productivity**: 6-7% of sales allocated to R&D, supporting double-digit price gains and innovation pipeline.\n

Stryker (SYK)-28 Jan 25-2024 Q4 Earnings call transcript

Stryker (SYK)-29 Oct 24-2024 Q3 Earnings call transcript

Stryker (SYK)-30 Jul 24-2024 Q2 Earnings call transcript

Stryker (SYK)-30 Apr 24-2024 Q1 Earnings call transcript

Stryker (SYK)-30 Jan 24-2023 Q4 Earnings call transcript

- **Record Growth**: 9.2% Q3 organic sales growth, narrowing to 10-10.5% full-year guidance, up from prior 9-10% range.
- **Margin Recovery**: Adjusted gross margin +210bps to 64.7%, with 2023 EPS guidance raised to $10.35-10.45.
- **Innovation Surge**: Mako spine/shoulder launches in mid-2024, Pangea trauma system launch Q2 2024, and 1788 camera platform gaining traction.
- **M&A Momentum**: CEO signals $1B+ deals in 2024, with decentralized divisions pursuing tuck-in acquisitions.
- **GLP-1 Resilience**: Knee business (10% of sales) stable, with Mako ASC adoption accelerating (300+ robots installed).

**【CEO Summary Section】**
- Delivered 9.2% organic sales growth in Q3, narrowing full-year guidance to 10-10.5% growth, up from previous 9-10% range.
- Addressed GLP-1 drug concerns, emphasizing knee business resilience (10% of sales) and long-term benefits of weight loss on surgical eligibility.
- Highlighted strong demand across MedSurg, Neurotech, and international markets, with adjusted EPS of $2.46 (+16% YoY).
- Announced 2023 EPS guidance of $10.35-10.45, up from prior $10.10-10.30 range.

**【CFO Financial Commentary】**
- Q3 revenue growth driven by +10.3% MedSurg/Neurotech and +8% Ortho/Spine, with U.S. and international sales up 9.3% and 8.9%.
- Adjusted gross margin improved 210bps to 64.7%, driven by cost normalization and price/mix benefits.
- R&D/S&A expenses stable, with tax rate at 13.2% (2023 full-year expected at 14%).
- Cash flow strong at $2.2B year-to-date, with $100M debt reduction.

**【Q&A Highlights】**
- **2024 Outlook**: CEO Kevin Lobo emphasized "super cycle of innovation" with Mako spine/shoulder launches (mid-2024) and double-digit growth potential.
- **Margins**: CFO Glenn Boehnlein expects gradual margin recovery, targeting 2019 levels, with Q3 gross margin up 210bps YoY.
- **M&A**: Lobo hinted at $1B+ deals in 2024, with divisions actively pursuing tuck-in acquisitions.
- **GLP-1 Impact**: Surgeon feedback indicates no near-term knee replacement decline, with Mako adoption accelerating in ASCs (300+ robots installed).

Stryker (SYK)-2 Nov 23-2023 Q3 Earnings call transcript

- **Revenue Beat**: 11.9% organic growth vs. 8-10% prior guidance, driven by MedSurg (12.9%) and Ortho (10.6%). 
- **Margin Expansion**: Gross margin 63.9% (+70bps QoQ), operating margin 24.3%. Full year EPS guidance raised to $10.25-10.45. 
- **Growth Drivers**: Mako robotics (30% U.S. utilization), Medical division (27.2% growth), and new product launches (1788 camera, LIFEPAK defibrillator). 
- **Sustainability**: 9.5-10.5% organic growth outlook reflects procedure backlog, capital equipment backlog, and product super cycle. 
- **Risk Management**: Foreign exchange headwinds ($0.05-0.10 EPS) and China VBP impacts offset by pricing gains and margin improvements. 


**【CEO Summary Section】**
- **Revenue Growth**: Organic sales rose 11.9% Q2, driven by double-digit growth in MedSurg (12.9%) and Orthopaedics (10.6%). U.S. and international markets both expanded strongly (12% and 11.4% respectively). 
- **Margin Recovery**: Adjusted EPS of $2.54 (+13% YoY) reflects margin expansion. Management expects continued improvement in gross margin (63.9% Q2) and operating margin (24.3% Q2). 
- **Guidance Update**: Full year organic growth raised to 9.5-10.5% vs. prior 8-10%, with EPS guidance increased to $10.25-10.45.
- **Strategic Initiatives**: Pricing initiatives delivered 0.5% positive impact. Globalization efforts and capital equipment backlog (e.g., Mako robots) support growth. New product launches (1788 camera, LIFEPAK defibrillator) expected to drive future momentum.

**【CFO Financial Commentary】**
- **Top Line**: GAAP net income $420M, Non-GAAP EPS $1.08 (vs. $0.98 consensus). Foreign exchange headwinds (-0.3% sales, -$0.05 EPS) partially offset by pricing gains. 
- **Segment Performance**: 
  - **MedSurg**: U.S. growth 12.9% (Instruments +12.9%, Medical +27.2%). Endoscopy limited launch of 1788 camera. 
  - **Ortho**: U.S. Knee +10.6%, Hip +8.8%, Trauma +14.3%. International Ortho +12.1%. 
- **Margins**: Gross margin +70bps QoQ to 63.9%. R&D/SG&A as % of sales improved 80bps vs. 2022. 
- **Cash Flow**: $1.1B year-to-date from operations. Debt reduced $200M YTD. 

**【Q&A Highlights】**
- **Procedure Trends**: Elevated demand due to 4-month surgery backlog vs. pre-pandemic levels. Ortho procedural demand expected to persist into 2024. 
- **Gross Margin**: Easing of spot buy costs and supply chain improvements driving sequential margin expansion. Full year tax rate 14-15%. 
- **Mako Robotics**: U.S. hip/knee growth fueled by 30% Mako utilization. International Mako adoption accelerating (e.g., APAC). Shoulder/Spine launches planned late 2024. 
- **Medical Division**: 27.2% growth driven by Xpedition stair chair, ProCuity bed, and AED demand. 
- **Neurovascular**: U.S. growth 9% despite China VBP headwinds. Cerus acquisition awaiting U.S. FDA approval. 
- **Capital Allocation**: Prioritize debt reduction ($12.9B total debt) while evaluating tuck-in M&A opportunities. 


Actual																	1.84	0.64	2.14	2.81	1.93	2.25	2.2	2.71	1.97	2.25	2.12	3	2.14	2.54	2.46	3.46	2.5	2.81	2.87	4.01	2.84	3.13	3.19	4.47
Forecast																	1.8074	0.559	1.4089	2.5461	1.9853	2.1375	2.2765	2.7224	1.9454	2.2741	2.1989	2.8361	2.0023	2.3807	2.4347	3.2687	2.3557	2.7917	2.7723	3.8717	2.7144	3.0685	3.1331	4.3961
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+1.80%	+14.49%	+51.89%	+10.36%	-2.79%	+5.26%	-3.36%	-0.46%	+1.26%	-1.06%	-3.59%	+5.78%	+6.88%	+6.69%	+1.04%	+5.85%	+6.13%	+0.66%	+3.52%	+3.57%	+4.63%	+2.00%	+1.82%	+1.68%

Actual	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	3.59B	2.76B	3.74B	4.26B	3.95B	4.29B	4.16B	4.70B	4.28B	4.49B	4.48B	5.20B	4.78B	5.00B	4.91B	5.82B	5.24B	5.42B	5.49B	6.44B	5.87B	6.02B	6.06B	7.17B
Forecast	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	3.57B	2.59B	3.41B	4.33B	3.95B	4.14B	4.22B	4.65B	4.18B	4.53B	4.47B	4.96B	4.57B	4.83B	4.87B	5.60B	5.10B	5.40B	5.37B	6.36B	5.69B	5.94B	6.04B	7.12B
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+0.46%	+6.54%	+9.58%	-1.54%	-0.01%	+3.61%	-1.50%	+1.10%	+2.16%	-0.78%	+0.27%	+4.79%	+4.65%	+3.52%	+0.90%	+3.80%	+2.71%	+0.32%	+2.26%	+1.18%	+3.07%	+1.45%	+0.21%	+0.65%

SYK

SYK fundamentals

SYK Q4 2025 Earnings

Earnings Call

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SYK

SYK fundamentals

SYK Q4 2025 Earnings

Earnings Call

SYK Earnings Call Summary for Q4/20254:30 PM on Jan 29, 2026

SYK Earnings Call Summary for Q3/20254:30 PM on Oct 30, 2025

SYK Earnings Call Summary for Q2/20254:30 PM on Jul 31, 2025

SYK Earnings Call Summary for Q1/20254:30 PM on May 1, 2025

SYK Earnings Call Summary for Q4/20244:30 PM on Jan 28, 2025

You can ask Aime