Analyst Consensus ?
ConsensusBuy52 ratings
Bullish3873.1%
Neutral1426.9%
Bearish00.0%
Stryker Corporation · SYK · FY2026 Q1 · Calendar Q2 2026
Stryker Q1 2026: Cyber Incident Distorts Revenue, Full-Year Guidance Held
A late-quarter cyber incident disrupted Stryker's manufacturing and revenue recognition, producing a Q1 2026 EPS miss of 12.8% ($2.60 vs $2.98 estimated) and a revenue miss of 5.0% ($6.02B vs $6.34B estimated). Organic sales growth slowed to 2.4%, well below the full-year target. Management maintained full-year guidance of 8%–9.5% organic growth and $14.90–$15.10 adjusted EPS, implying confidence that deferred revenue will recover in subsequent quarters. Strategic initiatives — the Amplitude Vascular acquisition, a new Ortho Tech segment, and record Mako installations — signal continued investment in growth despite the setback. The stock fell 6.5% on the print but has partially recovered, recently trading at $346.59 versus a $381.79 consensus target.
Reported After market closeNYSEHealthcare
$129.13B market cap
100quality score
Company context
Snapshot as of publicationStryker Corporation functions as a prominent medical technology enterprise, with its operations structured across two main divisions. The Orthopaedics and Spine segment specializes in providing implants for joint replacement procedures (including hips and knees), as well as solutions for trauma and extremities surgeries. This division also furnishes a comprehensive suite of spinal implant products, such as cervical, thoracolumbar, and interbody systems, utilized in addressing spinal injuries, deformities, and degenerative conditions. The MedSurg and Neurotechnology division offers an extensive array of products, encompassing advanced surgical equipment, surgical navigation systems, endoscopic and communication tools, patient handling devices, emergency medical apparatus, and critical care disposable items.…
Earnings scorecard
Reported versus consensus
Reported EPS
$2.60
Consensus $3
EPS surprise
-12.8%
Reported versus consensus
Reported revenue
$6.02B
Consensus $6.34B
Revenue surprise
-5.0%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$275.56Current
$245Low
$358.49Average
$469High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 12, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Overweight | Overweight | Maintain | Sep 9, 2026 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Aug 13, 2026 |
| Citizens | Market Outperform | Market Outperform | Maintain | Aug 3, 2026 |
| Truist Securities | Hold | Hold | Maintain | Jul 31, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 31, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Jul 31, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 31, 2026 |
| BTIG | Buy | Buy | Maintain | Jul 31, 2026 |
| BMO Capital | Outperform | Market Perform | Upgrade | Jul 9, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jul 6, 2026 |
| Leerink Partners | Outperform | Outperform | Maintain | Jun 5, 2026 |
| Barclays | Overweight | Overweight | Maintain | May 4, 2026 |
| Needham | Buy | Buy | Maintain | May 1, 2026 |
| Canaccord Genuity | Buy | Buy | Maintain | May 1, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | Apr 9, 2026 |
| Citigroup | Buy | Buy | Maintain | Apr 7, 2026 |
| UBS | Neutral | Neutral | Maintain | Mar 17, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Jan 9, 2026 |
| JMP Securities | Market Perform | Market Perform | Maintain | May 5, 2025 |
| Roth MKM | Buy | Buy | Maintain | May 2, 2025 |
| Stifel | Buy | Buy | Maintain | Jan 29, 2025 |
| Morgan Stanley | Overweight | Equal Weight | Upgrade | Dec 2, 2024 |
| Baird | Outperform | Outperform | Maintain | Oct 30, 2024 |
| TD Cowen | Buy | Buy | Maintain | Apr 11, 2024 |
| B of A Securities | Buy | Neutral | Upgrade | Sep 5, 2023 |
| Argus Research | Buy | Buy | Maintain | May 25, 2023 |
| Jefferies | Buy | Buy | Maintain | May 2, 2023 |
| Deutsche Bank | Hold | Hold | Maintain | May 2, 2023 |
| Loop Capital | Buy | Buy | Maintain | Apr 17, 2023 |
| Edward Jones | Buy | Hold | Upgrade | Jul 28, 2022 |
| Cowen & Co. | Outperform | Outperform | Maintain | Jul 22, 2022 |
| SVB Leerink | Outperform | Outperform | Maintain | Jan 28, 2022 |
| Oppenheimer | Perform | Perform | Maintain | Jul 28, 2021 |
| Northland Capital Markets | Outperform | Market Perform | Upgrade | Jul 28, 2021 |
| Credit Suisse | Outperform | Outperform | Maintain | Jul 28, 2021 |
| Raymond James | Outperform | Outperform | Maintain | Apr 28, 2021 |
| CFRA | Strong Buy | Strong Buy | Maintain | May 1, 2020 |
| Stifel Nicolaus | Buy | Buy | Maintain | Jan 29, 2020 |
| Piper Jaffray | Overweight | Overweight | Maintain | Jul 26, 2019 |
| Cantor Fitzgerald | Neutral | Neutral | Maintain | Jul 26, 2019 |
| Argus | Buy | Buy | Maintain | May 5, 2018 |
| Leerink Swann | Outperform | Outperform | Maintain | Jan 31, 2018 |
| Sterne Agee CRT | Buy | Neutral | Upgrade | Apr 27, 2016 |
| Sterne Agee | Buy | Neutral | Upgrade | Apr 27, 2016 |
| Brean Capital | Buy | Hold | Upgrade | Jan 27, 2016 |
| Northland Securities | Market Perform | Outperform | Downgrade | Jan 7, 2016 |
| SunTrust Robinson Humphrey | Neutral | Reduce | Upgrade | Apr 14, 2014 |
| Wunderlich Securities | Hold | Buy | Downgrade | Jul 19, 2013 |
| Wunderlich | Hold | Buy | Downgrade | Jul 19, 2013 |
| Standpoint Research | Hold | Buy | Downgrade | Dec 18, 2012 |
| Bank of America | Buy | Buy | Maintain | Dec 12, 2012 |
| PiperJaffray | Neutral | Overweight | Downgrade | Aug 2, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $275.56. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| BMO Capital | Joanne Wuensch | $317 | $277.89 | +15.0% | Sep 9, 2026 |
| Wells Fargo | Larry Biegelsen | $348 | $276.43 | +26.3% | Sep 9, 2026 |
| RBC Capital | Shagun Singh | $420 | $321.08 | +52.4% | Jul 31, 2026 |
| Raymond James | Analyst unavailable | $370 | $322.69 | +34.3% | Jul 31, 2026 |
| BTIG | Ryan Zimmerman | $358 | $322.13 | +29.9% | Jul 31, 2026 |
| Piper Sandler | Analyst unavailable | $390 | $348.37 | +41.5% | Jul 31, 2026 |
| Wolfe Research | Analyst unavailable | $375 | $348.37 | +36.1% | Jul 31, 2026 |
| BTIG | Analyst unavailable | $371 | $329.78 | +34.6% | Jul 13, 2026 |
| Argus Research | Analyst unavailable | $370 | $328.79 | +34.3% | Jul 9, 2026 |
| BMO Capital | Analyst unavailable | $369 | $326.85 | +33.9% | Jul 8, 2026 |
| Evercore ISI | Analyst unavailable | $350 | $319.22 | +27.0% | Jul 6, 2026 |
| Leerink Partners | Mike Kratky | $407 | $301.21 | +47.7% | Jun 5, 2026 |
| Truist Financial | Richard Newitter | $330 | $293.44 | +19.8% | May 4, 2026 |
| Barclays | Matt Miksic | $394 | $294.73 | +43.0% | May 4, 2026 |
| Goldman Sachs | David Roman | $361 | $294.73 | +31.0% | May 1, 2026 |
| Bernstein | Analyst unavailable | $410 | $302.38 | +48.8% | May 1, 2026 |
| Robert W. Baird | Analyst unavailable | $385 | $307.87 | +39.7% | May 1, 2026 |
| Evercore ISI | Analyst unavailable | $355 | $308.17 | +28.8% | May 1, 2026 |
| BTIG | Analyst unavailable | $379 | $315.18 | +37.5% | May 1, 2026 |
| Needham | Analyst unavailable | $418 | $315.18 | +51.7% | May 1, 2026 |
| Deutsche Bank | Analyst unavailable | $315 | $315.18 | +14.3% | May 1, 2026 |
| Jefferies | Matthew Taylor | $465 | $381.89 | +68.7% | Mar 4, 2026 |
| UBS | Analyst unavailable | $400 | $381.83 | +45.2% | Feb 24, 2026 |
| Barclays | Analyst unavailable | $469 | $369.56 | +70.2% | Feb 2, 2026 |
| Needham | Mike Matson | $454 | $365.62 | +64.8% | Jan 30, 2026 |
| Robert W. Baird | Analyst unavailable | $437 | $369.02 | +58.6% | Jan 30, 2026 |
| BTIG | Ryan Zimmerman | $412 | $354.3 | +49.5% | Jan 30, 2026 |
| Bernstein | Lee Hambright | $465 | $367.21 | +68.7% | Jan 9, 2026 |
| Goldman Sachs | Analyst unavailable | $399 | $367.21 | +44.8% | Jan 9, 2026 |
| Raymond James | Analyst unavailable | $418 | $348.79 | +51.7% | Jan 6, 2026 |
| Evercore ISI | Analyst unavailable | $390 | $347.68 | +41.5% | Jan 5, 2026 |
| Truist Financial | Richard Newitter | $400 | $366.38 | +45.2% | Nov 14, 2025 |
| RBC Capital | Shagun Singh | $435 | $365.14 | +57.9% | Nov 14, 2025 |
| Needham | Mike Matson | $448 | $373.42 | +62.6% | Nov 14, 2025 |
| Truist Financial | Analyst unavailable | $392 | $359.36 | +42.3% | Nov 3, 2025 |
| Evercore ISI | Analyst unavailable | $405 | $357.6 | +47.0% | Oct 31, 2025 |
| Truist Financial | Analyst unavailable | $407 | $370.88 | +47.7% | Oct 15, 2025 |
| UBS | Analyst unavailable | $408 | $364.6 | +48.1% | Oct 13, 2025 |
| Evercore ISI | Analyst unavailable | $410 | $366.28 | +48.8% | Oct 7, 2025 |
| Redburn Partners | Analyst unavailable | $420 | $376.8 | +52.4% | Sep 18, 2025 |
| Truist Financial | Analyst unavailable | $415 | $381.49 | +50.6% | Aug 4, 2025 |
| Bernstein | Lee Hambright | $450 | $381.36 | +63.3% | May 5, 2025 |
| BTIG | Ryan Zimmerman | $403 | $353.42 | +46.2% | Apr 14, 2025 |
| Goldman Sachs | Analyst unavailable | $422 | $389.92 | +53.1% | Mar 4, 2025 |
| Argus Research | David Toung | $450 | $391.14 | +63.3% | Feb 3, 2025 |
| Truist Financial | Richard Newitter | $409 | $359.17 | +48.4% | Dec 18, 2024 |
| Morgan Stanley | Patrick Wood | $445 | $390.9 | +61.5% | Dec 2, 2024 |
| Citigroup | Joanne Wuensch | $411 | $363.43 | +49.2% | Oct 31, 2024 |
| Piper Sandler | Matt O'Brien | $420 | $367.95 | +52.4% | Oct 30, 2024 |
| Truist Financial | Richard Newitter | $380 | $365.42 | +37.9% | Oct 30, 2024 |
| Canaccord Genuity | Kyle Rose | $400 | $359.01 | +45.2% | Oct 30, 2024 |
| BTIG | Ryan Zimmerman | $394 | $359.01 | +43.0% | Oct 30, 2024 |
| Truist Financial | Richard Newitter | $370 | $356.45 | +34.3% | Oct 14, 2024 |
| Piper Sandler | Matt O\'Brien | $380 | $365.22 | +37.9% | Sep 10, 2024 |
| BTIG | Ryan Zimmerman | $374 | $358.51 | +35.7% | Aug 28, 2024 |
| Truist Financial | Richard Newitter | $345 | $327 | +25.2% | Aug 1, 2024 |
| BTIG | Ryan Zimmerman | $360 | $330.22 | +30.6% | Jul 31, 2024 |
| Goldman Sachs | David Roman | $372 | $341.14 | +35.0% | May 30, 2024 |
| Argus Research | David Toung | $380 | $330.51 | +37.9% | May 22, 2024 |
| Needham | Mike Matson | $392 | $330.51 | +42.3% | May 22, 2024 |
| BTIG | Ryan Zimmerman | $366 | $342.05 | +32.8% | Apr 15, 2024 |
| Piper Sandler | Matt O'Brien | $280 | $253.81 | +1.6% | Jan 31, 2023 |
| Morgan Stanley | Analyst unavailable | $260 | $254.93 | -5.6% | Jan 6, 2023 |
| BTIG | Ryan Zimmerman | $268 | $239.65 | -2.7% | Dec 21, 2022 |
| Cowen & Co. | Cowen Cowen | $283 | $239.84 | +2.7% | Dec 19, 2022 |
| Barclays | Analyst unavailable | $257 | $238.76 | -6.7% | Dec 2, 2022 |
| Piper Sandler | Matt O’Brien | $260 | $206.93 | -5.6% | Sep 24, 2022 |
| BTIG | Analyst unavailable | $238 | $202.61 | -13.6% | Sep 6, 2022 |
| BTIG | Analyst unavailable | $244 | $192.91 | -11.5% | Jul 18, 2022 |
| Stifel Nicolaus | Analyst unavailable | $245 | $193.26 | -11.1% | Jul 18, 2022 |
| Argus Research | David Toung | $270 | $232.41 | -2.0% | May 23, 2022 |
| Truist Financial | Richard Newitter | $280 | $236.97 | +1.6% | May 3, 2022 |
| Morgan Stanley | Analyst unavailable | $270 | $236.97 | -2.0% | May 2, 2022 |
| Piper Sandler | Matt O’Brien | $290 | $241.26 | +5.2% | Apr 30, 2022 |
| Wells Fargo | Analyst unavailable | $286 | $246.64 | +3.8% | Apr 29, 2022 |
| BTIG | Ryan Zimmerman | $278 | $276.37 | +0.9% | Apr 21, 2022 |
| RBC Capital | Shagun Singh | $272 | $261.7 | -1.3% | Apr 16, 2022 |
| Bernstein | Lee Hambright | $295 | $267.34 | +7.1% | Mar 19, 2022 |
| Bank of America Securities | Travis Steed | $300 | $266.47 | +8.9% | Mar 3, 2022 |
| J.P. Morgan | Robbie Marcus | $265 | $247.76 | -3.8% | Jan 28, 2022 |
| UBS | Matthew Taylor | $267 | $247.76 | -3.1% | Jan 28, 2022 |
| BTIG | Ryan Zimmerman | $273 | $247.76 | -0.9% | Jan 28, 2022 |
| Leerink Partners | Danielle Antalffy | $285 | $247.76 | +3.4% | Jan 28, 2022 |
| Piper Sandler | Matthew O'Brien | $315 | $244.7 | +14.3% | Jan 27, 2022 |
| Deutsche Bank | Pito Chickering | $285 | $254.03 | +3.4% | Jan 21, 2022 |
| Motley Fool | Rick Aristotle Munarriz | $278 | $259.21 | +0.9% | Dec 9, 2021 |
| Loop Capital Markets | Jason Wittes | $305 | $253.11 | +10.7% | Dec 6, 2021 |
| Argus Research | David Toung | $320 | $267.18 | +16.1% | Jul 29, 2021 |
| Canaccord Genuity | Kyle Rose | $290 | $266.68 | +5.2% | Jul 28, 2021 |
| Cowen & Co. | Josh Jennings | $305 | $266.68 | +10.7% | Jul 28, 2021 |
| Credit Suisse | Matt Miksic | $311 | $266.68 | +12.9% | Jul 28, 2021 |
| Oppenheimer | Steven Lichtman | $288 | $266.68 | +4.5% | Jul 28, 2021 |
Track every rating change on SYK the moment it posts. Free to start.
Start freeMarket reaction
event-close to next-session close
Stock move
-6.5%
Event window
SPY move
+0.3%
Same window
Abnormal move
-6.8%
Stock minus SPY
Volume
2.4×
Versus trailing sessions
Subsequent drift
+1.6%
Up to 20 sessions
SYKSPY benchmark
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Try FN2 freeTranscript intelligence
What changed
EPS of $2.60 missed consensus of $2.98 by 12.8%. Revenue of $6.02 billion missed consensus of $6.34 billion by 5.0%. Organic sales growth was just 2.4% globally, heavily depressed by a late-quarter cyber incident that disrupted manufacturing and revenue recognition across all business segments. Mako robotic installations set a Q1 record. The company announced the pending acquisition of Amplitude Vascular Systems and created a new Ortho Tech business segment combining Mako, Enabling Technologies, and Orthopaedic Instruments.
Guidance delta
Full-year 2026 guidance maintained at 8%–9.5% organic sales growth and $14.90–$15.10 adjusted EPS, unchanged from the prior quarter when it was raised. Management held guidance despite the cyber-related revenue shortfall, implying expected catch-up in Q2 and the back half of the year.
Key takeaways
- Cyber incident disrupted manufacturing and revenue recognition, causing Q1 EPS and revenue to miss estimates, but full-year guidance was maintained.
- Mako robotic installations set a Q1 record; Mako Shoulder launch on Mako 4 remains planned for mid-year.
- Amplitude Vascular Systems acquisition announced to expand peripheral vascular and cardiovascular offerings.
- New Ortho Tech business segment created, combining Mako, Enabling Technologies, and Orthopaedic Instruments.
- International growth accelerated with strong performance in Europe, Japan, and emerging markets.
- SmartCare unit launched, integrating Vocera and care.ai into a Smart Hospital solution.
Management priorities
- Recover deferred Q1 revenue and restore normal manufacturing operations following the cyber incident.
- Launch Mako Shoulder on the Mako 4 platform mid-year.
- Complete the Amplitude Vascular Systems acquisition and pursue FDA approvals for peripheral and coronary indications.
- Expand Pangea trauma platform production in Europe and Japan.
- Ramp LIFEPAK 35 production to meet global demand.
- Continue tuck-in M&A targeting peripheral vascular and potential platform deals.
Related earnings events
HealthcareSources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-28T22:12:00.891210+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-28T22:12:00.888400+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.