Stryker (NYSE: SYK) is a medical device company that has risen to become the third-largest U.S. firm in the healthcare equipment and supplies industry. The company has often acquired other firms to boost its competitiveness and add capabilities. Still, recent months in 2024 have been particularly active for Stryker when it comes to acquisitions.
Since the beginning of July, the company has closed on or announced purchases of five companies. I’ll dive into what Stryker does and the most important of these acquisitions to help determine whether they make the stock a buy.
Stryker: A Highly Diversified Medical Device Company
Stryker has two reportable segments: MedSurg & Neurotechnology and Orthopedics & Spine. MedSurg provides surgical tools, including minimally invasive devices. These include small cameras used in surgeries. Neurotechnology offers tools for skull and brain surgeries, including stroke treatments. In 2023, this segment accounted for 58% of the company’s total revenue.
The other segment revolves around bodily implants. Orthopedics includes hip, knee, and shoulder implants to replace these joints. The company’s Mako system provides robotics-assisted replacement of these joints. It has similarities to Intuitive Surgical‘s (NASDAQ: ISRG) da Vinci system, but the two specialize in different treatment areas.
This segment also provides trauma and extremity implants. Trauma refers to implants used to help repair large broken bones like those in the arms and legs. Extremity implants help …
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