Shares of Stryker (NYSE:SYK) stock slipped today after the company downgraded its full-year outlook and announced third-quarter operating results that missed Wall Street’s expectations.
Like many of its peers, the Kalamazoo, Michigan–based orthopedic device maker reported continued headwinds from the COVID-19 pandemic, particularly the Delta variant wave that forced American hospitals to prioritize critical cases and push back elective surgeries.
Medical device makers like Medtronic and Johnson & Johnson have warned of hospital worker burnout, and Intuitive Surgical last week said it has heard varying levels of reassurance from hospitals.