Page 1

STRYKER REPORTS SECOND QUARTER 2021 OPERATING RESULTS Kalamazoo , Michigan - July 27 , 2021 - Stryker ( NYSE : SYK ) reported operating results for the second quarter of 2021 : Second Quarter Results ● ● Total Reported net sales increased 55.4 % from 2020 and 17.6 % from 2019 to $ 4.3 billion Organic net sales increased 42.9 % from 2020 and 9.3 % from 2019 Reported operating income margin of 17.0 % Adjusted operating income margin ( ¹ ) of 25.9 % Reported EPS of $ 1.55 Adjusted EPS ( ¹ ) of $ 2.25 In addition to sales growth analysis versus 2020 , we are including sales growth versus 2019 as 2019 provides a more normal baseline for comparison given the variability caused by the COVID - 19 pandemic throughout 2020 . Second Quarter Net Sales Growth Overview Orthopaedics MedSurg Neurotechnology and Spine Reported 82.3 % 32.3 66.9 55.4 % Foreign Currency Exchange 4.4 % 2.6 4.5 3.6 % From 2020 Constant Currency 77.9 % 29.7 62.4 51.8 % Acquisitions 27.2 % 0.1 0.6 8.9 % Organic 50.7 % 29.6 61.8 42.9 % Reported 27.8 % 9.4 18.0 17.6 % Foreign Currency Exchange 1.8 % 1.1 2.0 1.5 % 1 From 2019 Exhibit 99.1 Constant Currency 26.0 % 8.3 16.0 16.1 % Acquisitions 19.3 % 0.5 6.8 % Organic 6.7 % 8.3 15.5 9.3 % " We delivered strong financial results in the second quarter , " said Kevin Lobo , Chair and Chief Executive Officer . " Business momentum continues to build as the pandemic moderates and the integration of Wright Medical is pacing ahead of plan . Our positive outlook is reflected in our raised guidance . " Sales Analysis Compared to 2020 and 2019 Consolidated net sales of $ 4.3 billion increased 55.4 % in the quarter and 51.8 % in constant currency from 2020. Organic net sales increased 42.9 % in the quarter including 43.4 % from increased unit volume partially offset by 0.5 % from lower prices . From 2019 consolidated net sales increased 17.6 % in the quarter and 16.1 % in constant currency . Organic net sales increased 9.3 % in the quarter including 9.9 % from increased unit volume partially offset by 0.6 % from lower prices . Orthopaedics net sales of $ 1.6 billion increased 82.3 % in the quarter and 77.9 % in constant currency from 2020. Organic net sales increased 50.7 % in the quarter including 52.2 % from increased unit volume partially offset by 1.5 % from lower prices . From 2019 Orthopaedics net sales increased 27.8 % in the quarter and 26.0 % in constant currency . Organic net sales increased 6.7 % in the quarter including 9.0 % from increased unit volume partially offset by 2.3 % from lower prices . MedSurg net sales of $ 1.7 billion increased 32.3 % in the quarter and 29.7 % in constant currency from 2020. Organic net sales increased 29.6 % in the quarter including 29.5 % from increased unit volume and 0.1 % from higher prices . From 2019 MedSurg net sales increased 9.4 % in the quarter and 8.3 % in constant currency . Organic net sales increased 8.3 % in the quarter including 7.9 % from increased unit volume and 0.4 % from higher prices . Neurotechnology and Spine net sales of $ 0.9 billion increased 66.9 % in the quarter and 62.4 % in constant currency from 2020. Organic net sales increased 61.8 % in the quarter including 62.4 % from increased unit volume partially offset by 0.6 % from lower prices . From 2019 Neurotechnology and Spine net sales increased 18.0 % in the quarter and 16.0 % in constant currency . Organic net sales increased 15.5 % in the quarter including 15.4 % from increased unit volume and 0.1 % from higher prices . Earnings Analysis Compared to 2020 Reported net earnings ( loss ) of $ 592 million increased from ( $ 83 ) million in the quarter . Reported net earnings ( loss ) per diluted share of $ 1.55 increased from ( $ 0.22 ) in the quarter . Reported gross profit margin and reported operating income margin were 64.6 % and 17.0 % in the quarter . Reported net earnings ( loss ) include certain items , such as charges for acquisition and integration - related activities , the amortization of purchased intangible assets , restructuring - related and other charges , costs to comply with certain medical device regulations , recall - related matters , regulatory and legal matters and tax matters . Excluding the aforementioned items , adjusted gross profit margin ( 1¹ ) was 66.0 % in the quarter , and adjusted operating income margin ( ¹ ) was 25.9 % in the quarter . Adjusted net earnings ( ¹ ) of $ 861 million increased from $ 245 million in the quarter . Adjusted net earnings per diluted share ( ¹ ) of $ 2.25 increased from $ 0.64 in the quarter .