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STRYKER REPORTS THIRD QUARTER 2021 OPERATING RESULTS Kalamazoo , Michigan - October 28 , 2021 - Stryker ( NYSE : SYK ) reported operating results for the third quarter of 2021 : Third Quarter Results • Reported net sales increased 11.3 % from 2020 and 16.0 % from 2019 to $ 4.2 billion • Organic net sales increased 4.5 % from 2020 and 8.4 % from 2019 • Reported operating income margin of 13.8 % • Adjusted operating income margin ( ¹ ) contracted 260 bps to 25.4 % Reported EPS decreased 30.1 % to $ 1.14 Adjusted EPS ( ¹ ) increased 2.8 % to $ 2.20 Exhibit 99.1 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 . Third Quarter Net Sales Growth Overview From 2020 From 2019 Foreign Currency Constant Reported Exchange Currency Acquisitions / Divestitures Foreign Currency Constant Orthopaedics MedSurg 16.1 % 0.6 % 15.5 % 17.3 % Organic ( 1.8 ) % Reported Exchange Currency Acquisitions / Divestitures Organic 21.3 % 1.4 % 19.9 % 17.9 % 2.0 % 9.4 0.5 8.9 Neurotechnology and Spine 7.3 0.9 6.4 0.1 0.3 8.8 12.8 0.8 12.0 0.1 11.9 6.1 13.7 1.5 12.2 0.4 11.8 Total 11.3 % 0.6 % 10.7 % 6.2 % 4.5 % 16.0 % 1.2 % 14.8 % 6.4 % 8.4 % " Our teams showed strong resilience and delivered solid quarterly financial results despite a resurgence of COVID - 19 that intensified through the quarter , " said Kevin Lobo , Chair and Chief Executive Officer . " This latest spike mostly impacted our U.S. implant related businesses as scheduled procedures were deferred . Despite those impacts , we delivered strong growth in our MedSurg and NeuroTech businesses and are ready to support our customers as the pandemic recedes . " Sales Analysis Compared to 2020 and 2019 Consolidated net sales of $ 4.2 billion increased 11.3 % in the quarter and 10.7 % in constant currency from 2020. Organic net sales increased 4.5 % in the quarter including 5.2 % from increased unit volume partially offset by 0.7 % from lower prices . From 2019 consolidated net sales increased 16.0 % in the quarter and 14.8 % in constant currency . Organic net sales increased 8.4 % in the quarter including 10.6 % from increased unit volume partially offset by 2.2 % from lower prices . Orthopaedics net sales of $ 1.5 billion increased 16.1 % in the quarter and 15.5 % in constant currency from 2020. Organic net sales decreased 1.8 % in the quarter including 1.2 % from decreased unit volume and 0.6 % from lower prices . From 2019 Orthopaedics net sales increased 21.3 % in the quarter and 19.9 % in constant currency . Organic net sales increased 2.0 % in the quarter including 4.8 % from increased unit volume partially offset by 2.8 % from lower prices . MedSurg net sales of $ 1.8 billion increased 9.4 % in the quarter and 8.9 % in constant currency from 2020. Organic net sales increased 8.8 % in the quarter including 9.6 % from increased unit volume partially offset by 0.8 % from lower prices . From 2019 MedSurg net sales increased 12.8 % in the quarter and 12.0 % in constant currency . Organic net sales increased 11.9 % in the quarter including 13.4 % from increased unit volume partially offset by 1.5 % from lower prices . Neurotechnology and Spine net sales of $ 0.9 billion increased 7.3 % in the quarter and 6.4 % in constant currency from 2020. Organic net sales increased 6.1 % in the quarter including 6.7 % from increased unit volume partially offset by 0.6 % from lower prices . From 2019 Neurotechnology and Spine net sales increased 13.7 % in the quarter and 12.2 % in constant currency . Organic net sales increased 11.8 % in the quarter including 14.2 % from increased unit volume partially offset by 2.4 % from lower prices . Earnings Analysis Compared to 2020 Reported net earnings of $ 438 million decreased 29.5 % in the quarter . Reported net earnings per diluted share of $ 1.14 decreased 30.1 % in the quarter . Reported gross profit margin and reported operating income margin were 63.5 % and 13.8 % in the quarter . In the quarter , an impairment charge of $ 105 million was recorded for certain long - lived and intangible assets resulting from price reductions on our trauma and joint replacement products in China based on the outcome of the regional and national volume - based procurement programs . Reported net earnings 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 ( 1 ) was 66.3 % in the quarter , and adjusted operating income margin ( 1 ) was 25.4 % in the quarter . Adjusted net earnings ( ¹ ) of $ 842 million increased 3.7 % in the quarter . Adjusted net earnings per diluted share ( 1 ) of $ 2.20 increased 2.8 % in the quarter . 1