Stryker raises guidance following strong performance in Q1 2016

Stryker has achieved better-than-expected financial results during the first quarter of 2016, with net sales rising by 4.9 percent year on year to $2.5 billion (2.21 billion pounds).

This represented a 6.1 percent improvement in constant currency terms, with its orthopaedics and MedSurg divisions rising by 4.6 percent and its neurotechnology and spine business achieving double-digit growth.

Meanwhile, its reported net earnings of $402 million increased 79.5 percent in the quarter, with profit and income levels also seeing pronounced improvements.

The firm now expects organic sales growth for 2016 to be in the range of 5.5 to 6.5 percent, compared to its prior guidance of five to six percent, while its adjusted net earnings per diluted share is forecast to be in the range of $5.65 to $5.80, up from the previous $5.57 to $5.77 range.

Kevin Lobo, chairman and chief executive officer of Stryker, said: "We are pleased by our first-quarter performance and expect the momentum to continue. As a result, we have raised our full-year guidance for both sales and adjusted net earnings."