Yahoo Finance Stryker (SYK) to Boost Presence in China Via Digital Healthcare
Stryker Corporation SYK recently attended the 6th World Intelligence Congress (WIC) in China, where it demonstrated how Advanced Digital Healthcare Solutions offer clinical, operational and financial values for the healthcare market. Stryker participated in WIC as a strategic partner in the healthcare industry for the first time — marking a milestone for the company with respect to bringing more Advanced Digital Healthcare solutions to the China market.
It is worth mentioning that the demands of the aging population in China put pressure on the country’s health industry, which in turn allowed digital technology to play a crucial role in lowering costs and improving efficiency.
This announcement is likely to strengthen Stryker’s international presence and boost its digital healthcare solutions portfolio.
More on the News
Per management, China is the second-largest healthcare market in the world, and there has been a significant increase in digital healthcare development in the country. Stryker remains focused on collaborating with local partners to bring more technologies to realization, thereby helping patients in China.
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It is noteworthy to mention that Stryker has above 85 global digital solutions that are spread across the patient care pathway. According to management, the company is committed to bringing superior products and solutions to customers in China — a strategic market for the company’s global strategy.
Market Prospects
Per a report by Grand View Research, the global digital health market was worth $175.6 billion in 2021 and is anticipated to witness a CAGR of 27.7% from 2022 to 2030. Hence, this announcement is well-timed for Stryker.
Another Notable Development
This month, Stryker received the FDA’s 510(k) clearance for its Q Guidance System. The Spine Guidance Software is the first spine navigation software approved by the FDA for use in pediatric patients aged 13 years and above. It is worth mentioning that the Q Guidance System, when used with the Spine Guidance Software, is an advanced planning and intraoperative guidance system created to aid open or percutaneous computer-assisted surgery.
Price Performance
Shares of the Zacks Rank #3 (Hold) company have lost 24% in a year’s time compared with the industry’s decline of 24.5%.
Stocks to Consider
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. AMN, Masimo Corporation MASI and ShockWave Medical, Inc. SWAV.
AMN Healthcare surpassed earnings estimates in each of the trailing four quarters, the average surprise being 15.6%. The company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare’s long-term earnings growth rate is estimated at 1.1%. The company’s earnings yield of 11.4% compares favorably with the industry’s (0.8%).
Masimo beat earnings estimates in each of the trailing four quarters, the average surprise being 4.4%. The company currently carries a Zacks Rank #2 (Buy).
Masimo’s estimated earnings growth rate for second-quarter 2022 is pegged at 22.3%. The company’s earnings yield is 3.8% against the industry’s (8.5%).
ShockWave Medical surpassed earnings estimates in each of the trailing four quarters, the average surprise being 189.9%. The company currently flaunts a Zacks Rank #1.
ShockWave Medical’s earnings growth rate for 2022 is estimated at 807.7%. The company’s earnings yield of 0.9% compares favorably with the industry’s (8%).
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Stryker Corporation (SYK) : Free Stock Analysis Report
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ShockWave Medical, Inc. (SWAV) : Free Stock Analysis Report
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