Stryker reports strong growth during first quarter of 2017

Stryker has announced its financial results for the first quarter of 2017, during which it generated a net sales total of $2.96 billion (2.31 billion pounds).

This represents a year-on-year increase of 18.4 percent, or an 18.8 percent rise on a constant currency basis. Meanwhile, its adjusted net earnings per diluted share increased 19.4 percent to $1.48.

The acquisitions of Sage Products and Physio-Control International played a significant role in the scale of this improvement, helping to drive double-digit growth for the firm's MedSurg division. Its orthopaedics and neurotechnology/spinal business also experienced positive momentum.

Stryker continues to expect its 2017 organic sales growth to be in the range of 5.5 to 6.5 percent, while adjusted net earnings per diluted share will be in the range of $6.35 to $6.45.

Kevin Lobo, chairman and chief executive officer at Stryker, said: "Our positive momentum continued in the first quarter, as we demonstrated our ongoing commitment to deliver organic sales growth at the high end of med-tech and leveraged earnings gains."

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