Evercore ISI sees strong trends next year for orthopedic medtechs

Enovis

28/12/2022 12:33

** Evercore ISI says orthopedic and general surgery recovery
trends are expected to remain strong in 2023, based on a survey
conducted by the brokerage
    ** Says sentiment on hospital capex spend for FY23 improved
vs prior survey in Q3  
    ** Survey "bodes well" for medtech cos in ortho space such
as Stryker Corp  SYK.N , Zimmer Biomet Holdings Inc  ZBH.N  and
Enovis Corp  ENOV.N  - Evercore ISI
    ** Adds that surgical beds, intravenous (IV) pumps continue
to remain top priorities for capex, while big-ticket items such
as robotics were muted
    ** Says higher proportion of respondents expect wage and
labor inflationary pressures to improve 
    ** YTD, SYK shares down ~9% - on course for first yearly
decline since 2015; ENOV down ~33% YTD, while ZBH shares up ~3%
 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))