In today’s briefing:
- Stryker Corporation: A Health Giant Flexing its Muscles in MedSurg and Neurotech! – Major Drivers
- Tandem Diabetes Care (TNDM US): Q2 Sales Declined, Margin Deteriorated; 2023 Guidance Revised Lower
Stryker Corporation: A Health Giant Flexing its Muscles in MedSurg and Neurotech! – Major Drivers
- Stryker Corporation delivered a strong result and managed an all-around beat in the last quarter, marked by robust organic sales growth of 11.9%.
- US and international organic sales demonstrated strong momentum despite a slight unfavorable impact from foreign currency exchange.
- Lastly, the company expects organic sales growth for the entire year and adjusted EPS, highlighting its strong performance and positive outlook.
Tandem Diabetes Care (TNDM US): Q2 Sales Declined, Margin Deteriorated; 2023 Guidance Revised Lower
- Tandem Diabetes Care (TNDM US) reported underwhelming Q2 results, with both revenue and EPS missing consensus. Adjusted EBITDA declined and adjusted operating loss increased on a year-over-year basis.
- To reflect lower sales visibility, the company has lowered 2023 guidance. The company has guided for 2023 sales of at least $785M, compared with earlier guidance of $885–900M.
- Tandem has also withdrawn correlating year for its long-term target. Achievement of long-term target is highly dependent on the adoption of the company’s recently approved insulin delivery system, Mobi.
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