Stryker announces 10.7% year-over-year net sales increase

Yahoo Finance Live anchors discuss the rise in stock for Stryker.

Video transcript

[AUDIO LOGO]

JULIE HYMAN: So let's talk Stryker. One more earnings report there. The company announced a net sales increase of 10.7% year-over-year.

[CLOCK TICKING]

Said it's expecting positive sales momentum in 2023. This is a medtech company, medical devices and supplies. And it's one of the best performers in the S&P 500 today, which is why it caught my eye. The company is also coming out with a forecast that is above estimates here.

And it looks like in its various divisions, it also beat estimates. Whether you're talking about medical-- medsurg or medical surgical devices, neurotechnology instruments, endoscopy. It really touches a lot of different areas in hospitals, for example.

BRIAN SOZZI: Hey, if you need a new plastic knee, you need a new plastic knee. You're just gonna pay the higher price for it. It is what it is.

JULIE HYMAN: Knees net sales--

BRIAN SOZZI: Yeah?

JULIE HYMAN: --$552 million.

BRIAN SOZZI: There's my thesis working out in real time. Very good.

JULIE HYMAN: Yeah, a lot of people need new knees and hips.

BRAD SMITH: Oh, man, I'm one of them probably.

BRIAN SOZZI: [LAUGHS] Oh, no. Come on, man. You just turned 23, what's wrong with you?

BRAD SMITH: I mean, my hip was jacked up last year. But anyway, I mean, just taking a look at some of the results. I mean, clearly if people are continuing to opt in to some of the surgeries that are either necessary--

[BUZZER]

--or elective, then Stryker might be one of the advantageous in the group.

JULIE HYMAN: Indeed.