Stryker Corporation

New York Stock Exchange
Back to all articles
Somewhat Bearish -40

Stryker results miss after Q1 cyberattack, company sticks with guidance

📉 Stryker (NYSE: SYK) reported first-quarter results that missed Wall Street analyst consensus primarily due to the operational disruption caused by an Iran-backed cyberattack in March.

📊 For Q1 ending March 31, 2026, Stryker earned $745 million or $1.93 per share from $6.02 billion in sales.

⚠️ The reported earnings were 38 cents below analyst expectations of $2.98 EPS and $6.33 billion in expected revenue.

🛡️ CEO Kevin Lobo stated that while growth was meaningfully impacted by the incident, the company is maintaining its full-year guidance.

💼 Stryker announced it is acquiring Amplitude Vascular Systems, with the deal expected to close in the second quarter.

🔄 The company made organizational changes by creating a new Ortho Tech business combining instruments and Mako surgical robotics portfolios.

🎯 Stryker maintains 2026 guidance for organic net sales growth of 8.0–9.5% and adjusted EPS of $14.90–$15.10.

⬇️ Shares fell over 3% to $302.59 following the earnings release, while the S&P 500 rose slightly by contrast.

📈 Adjusted Q1 EPS of $2.60 excluded one-time items related to the cyberattack remediation and lost sales.

💹 BTIG analysts maintained a Buy rating, suggesting the stock price already reflects the risk of recovering lost sales.

👍 William Blair analysts noted confidence that most lost sales will be recovered through delayed revenue or procedure pushouts this year.

🔍 The cyberattack disrupted Stryker's operations at its Michigan headquarters through early April.

📅 This article was originally published on April 30, 2026, and updated with next-day stock performance data.

Bullish Signals
  • Stryker maintained its full-year guidance for organic net sales growth of 8.0–9.5% and adjusted net earnings per diluted share of $14.90–$15.10, signaling strong management confidence despite the cyberattack.
  • The bottom line was up 13.9% year-over-year to $745 million, demonstrating underlying profitability even with top-line pressure.
  • Stryker recently announced an agreement to acquire Amplitude Vascular Systems, expected to close in the second quarter, providing a significant positive catalyst for growth.
  • The new Ortho Tech business combination aligns orthopedic instruments and surgical robotics portfolios, aiming to better serve customers and improve operational efficiency.
  • Analysts at BTIG maintain their Buy rating on SYK shares, noting that investors are pricing in the recovery potential given Stryker's strong track record and existing order book.
  • Industry experts from William Blair express confidence that most lost sales will be recovered through delayed revenue recognition and procedure pushouts within the current year.
Risk Factors
  • Stryker's Q1 earnings report missed Wall Street analyst consensus, recording $2.60 EPS versus the expected $2.98 and $6.020 billion in sales versus an anticipated $6.33 billion.
  • A major cyberattack by Iran-backed hackers disrupted Stryker's operations from early March through April, meaningfully impacting growth for the quarter that ended March 31, 2026.
  • Shares of SYK dropped more than 3% to $302.59 following the after-market-close earnings release, dragging down the stock despite the S&P 500 rising.
  • Despite maintaining full-year guidance, analysts note that share prices have already accounted for the risks associated with the need to recoup lost sales for the remainder of the year.
Full Analysis
Stryker Corp reported disappointing first-quarter earnings driven by a significant cyberattack attributed to Iran-backed actors that disrupted operations from early March through April. The incident caused the company's growth to meaningfully miss Wall Street consensus estimates, with shares falling over 3% after the after-market close. Despite the operational setbacks, CEO Kevin Lobo stated that the company maintains its full-year guidance and remains well-positioned within its served markets, while also noting an expected acquisition of Amplitude Vascular Systems to close in the second quarter. Financially, Stryker generated $745 million in adjusted earnings or $1.93 per share from $6.02 billion in sales for the quarter ending March 31, 2026. While the bottom line represented a 13.9% year-over-year increase and the top line grew 2.6%, the unadjusted EPS of $1.93 fell 38 cents short of the analysts' expected $2.98 per share on revenue that came in below the projected $6.33 billion. Stryker also announced organizational restructuring, combining its orthopedic instruments and Mako surgical robotics portfolios into a single Ortho Tech business to better serve orthopedic customers. Analysts remain largely bullish on the stock despite the miss. BTIG analysts Ryan Zimmerman and Iseult McMahon maintained their Buy rating, arguing that market prices already reflect the risk of recouping lost sales and noting Stryker's strong track record and order book. Similarly, William Blair analysts led by Steven Lichtman kept a positive stance, citing confidence that most lost sales will be recovered through delayed revenue recognition or procedure pushouts, which is consistent with the company reiterating its guidance for 8.0% to 9.5% organic net sales growth and adjusted EPS between $14.90 and $15.10 for 2026.