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Stryker Corporation (SYK-0.43%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports net sales of $22,595 million for 2024, an increase from $20,498 million in 2023. This growth was driven by higher shipments across all business segments.
MedSurg and Neurotechnology net sales increased by 11.1% to $13,518 million, while Orthopaedics net sales rose by 8.9% to $9,077 million.
Gross profit for the year was $14,440 million, with a gross margin of 63.9%, slightly up from 63.7% in the previous year.
Operating income decreased to $3,689 million, down from $3,888 million in 2023, primarily due to goodwill and other impairments totaling $977 million.
Net earnings for 2024 were $2,993 million, or $7.76 per diluted share, compared to $3,165 million, or $8.25 per diluted share, in 2023.
The company reported cash provided by operating activities of $4,242 million, up from $3,711 million in 2023.
Stryker completed various acquisitions in 2024 for a total of $1,628 million in upfront payments, expanding its product portfolio in several business segments.
The company also announced a definitive agreement to acquire Inari Medical, Inc. for approximately $4.9 billion, expected to close in the first quarter of 2025.
Stryker plans to integrate Inari into its MedSurg and Neurotechnology segment, enhancing its offerings in mechanical thrombectomy solutions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Stryker Corporation annual 10-K report dated February 12, 2025. To report an error, please email earnings@qz.com.