From Dow Jones & Company:

Shares of medical-technology companies surged on Wednesday, as sustained demand for medical procedures fueled hopes of a strong 2024. Stryker Corp. saw a more than 7% gain after reporting Q4 earnings and sales above expectations, and offering positive guidance for 2024. Boston Scientific also exceeded Q4 estimates, with an expected full-year adjusted earnings per share growth of 9-11%. Other medical-device makers like Edwards Lifesciences and Zimmer Biomet Holdings also experienced stock boosts. The industry is profiting from increased patient use of the healthcare system, particularly for procedures delayed during the pandemic. On the other hand, health insurers like Humana and UnitedHealth Group are struggling with higher medical costs. Stryker CEO Kevin Lobo attributes the company’s success to an aging population interested in becoming more active, which has led to a surge in demand for orthopedic surgeries and procedures.



Read more: Medical device makers’ stocks jump as procedures keep going strong