Some analysts have expressed concern about softer procedure volume trends across the orthopedic industry this year, particularly in hips and knees. But as Stryker CEO Kevin Lobo pointed out, we’ve seen this movie before.
Now that Johnson & Johnson, Zimmer Biomet, and Stryker have all reported earnings results from the most recent quarter, some analysts have pointed out that procedure volumes seem to be down across the industry, particularly for hip and knee surgeries.
While Stryker reported strong quarterly growth across its businesses and continues to train more surgeons on Mako Total Knee procedures, quarter-to-quarter variability is pretty typical in orthopedics, CEO Kevin Lobo assured analysts during the company’s earnings call.
“Let’s see how the second and third quarter play out, but this is not unusual. We had a pretty strong fourth quarter, a little bit softer first quarter. We’ve seen that movie multiple times over the past five years,” Lobo said, according to Seeking Alpha transcripts. “I still see the market as very stable from a procedural standpoint and we’re really much more focused on driving our growth through share gains.”
Katherine Owen, vice president of strategy and investor relations at Stryker, said there doesn’t seem to be any indication that the underlying demand for hip and knee reconstructive procedures has changed.
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