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Home Industry News Stryker reports strong momentum during Q2 2016

Stryker reports strong momentum during Q2 2016

22nd July 2016

Stryker has announced its financial results for the second quarter of 2016, a period characterised by strong double-digit growth for the company.

The firm's net sales for the quarter came to $2.8 billion (2.14 billion pounds), representing a year-on-year increase of 16.8 percent, or 17 percent. Its organic sales growth rate was calculated at 6.6 percent.

Its MedSurg business unit saw the most pronounced growth during the quarter, with sales up by 33.8 percent thanks to the positive impact of the recent acquisitions of Sage Products and Physio-Control International.

Even discounting these acquisitions, the unit still experienced an 8.5 percent sales improvement, with its orthopaedics and neurotechnology and spine businesses also seeing positive momentum.

The firm has now set a 2016 organic sales growth target in the range of six percent to 6.5 percent, up from its prior target of 5.5 percent to 6.5 percent.

Kevin Lobo, chairman and chief executive officer of Stryker, said: "This growth, combined with strong expense controls, positions us well to deliver on our updated full-year financial guidance."ADNFCR-8000103-ID-801822306-ADNFCR

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