Welcome to our dedicated page for Stryker news (Ticker: SYK), a resource for investors and traders seeking the latest updates and insights on Stryker stock.
Stryker Corporation reports developments as a global medical technology company serving MedSurg, Neurotechnology and Orthopaedics markets. Company news commonly covers operating results, organic sales trends, segment performance, dividends, shareholder-meeting activity and executive finance or investor-relations appointments.
Stryker updates also address portfolio expansion across medical devices, implants, instruments, operating-room equipment, neurotechnology and vascular solutions. Recent corporate activity includes the completed acquisition of Amplitude Vascular Systems, adding an intravascular lithotripsy platform for peripheral arterial disease to Stryker's peripheral vascular portfolio.
Stryker (NYSE: SYK) will participate in the Morgan Stanley 18th Annual Virtual Global Healthcare Conference on September 15, 2020, at 10:15 a.m. Eastern Time. Kevin Lobo, the Chairman and CEO, will represent the company. A webcast and replay of the presentation will be accessible on Stryker's website, www.stryker.com, and archived on the Investor Relations page. Stryker is a leader in medical technology, focusing on improving healthcare through innovative products in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine.
Stryker (NYSE: SYK) has extended the cash tender offer for Wright Medical Group N.V. (NASDAQ: WMGI) shares, now set to expire on September 30, 2020. As of August 27, 2020, approximately 10.5% of Wright Medical's ordinary shares were validly tendered. The tender offer's completion is contingent on certain conditions outlined in Stryker's filings with the SEC. Shareholders who have already tendered their shares do not need to take further action due to this extension. Innisfree M&A Incorporated serves as the information agent for the tender offer, with contact information provided.
Stryker reported a significant net sales decrease of 24.3% for Q2 2020, totaling $2.8 billion, attributable to COVID-19 impacts, including postponed medical procedures. Adjusted EPS fell 67.7% to $0.64, while reported EPS decreased by 117.5% to ($0.22). All business segments, including Orthopaedics and MedSurg, faced declines. The company projects continued negative effects from the pandemic, limiting financial outlook and guidance.
Stryker (NYSE: SYK) has declared a quarterly dividend of $0.575 per share, payable on October 30, 2020, to shareholders on record as of September 30, 2020. This dividend represents an increase of approximately 11% compared to the previous year, although it remains unchanged from the last quarter. Stryker continues to lead in the medical technology sector, offering innovative solutions across Orthopaedics, Medical and Surgical, and Neurotechnology and Spine, aimed at improving patient and hospital outcomes.
Stryker (NYSE: SYK) will host a conference call on July 30, 2020, at 4:30 p.m. ET to discuss its operating results for the quarter ending June 30, 2020. The final results will be released earlier that day at 4:05 p.m. ET. Interested parties can join the call by dialing (877) 702-4565 domestically or (647) 689-5532 internationally, and must provide conference ID 1335868. A webcast will be available on Stryker's website, with a recording accessible from 8:00 p.m. ET on July 30 until August 7, 2020.
Stryker has priced its offering of senior notes, raising a total of $2.3 billion through three series: $650 million of 1.150% Notes due 2025, $1 billion of 1.950% Notes due 2030, and $650 million of 2.900% Notes due 2050. Proceeds will primarily fund the acquisition of Wright Medical Group, along with fees and general corporate purposes. The offering is expected to close on June 4, 2020. Various risks, including regulatory hurdles and economic factors, could impact the acquisition and future performance.
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