Stryker ( SYK) hit its targets. The medical device maker reported a strong fourth quarter -- with both its orthopedics and its medical-surgical units faring well -- and issued optimistic guidance for the coming year. Revenue jumped 14% to $1.46 billion, allowing the company to beat crucial top-line projections. Net income surged 28% to $228 million, and operating profits of 55 cents per share matched the consensus estimate exactly. "Our unique set of businesses delivered a strong finish to 2006," said CEO Stephen MacMillan, "especially in the U.S. " Shares slipped 2% in late trading Thursday, though, in the wake of a long runup that has taken the stock near a 52-week high. Stryker enjoyed double-digit revenue growth both inside and outside the country. Sales of orthopedic devices picked up worldwide, climbing 13% in the latest quarter, as the company responded to growing demands for its artificial joints and products for spinal surgeries. Meanwhile, sales of medical and surgical supplies grew at an even faster clip. Stryker expects that momentum to continue. "The company's outlook for 2007 continues to be optimistic regarding underlying growth rates in orthopedic procedures and the company's broadly based range of products in orthopedics and other medical specialties, despite the potential for increased pricing pressures in certain markets," Stryker said on Thursday. Thus, "the company projects that diluted net earnings per share for 2007 will approximate $2.42 -- an increase of 20%" over last year's results.