Stryker Corporation

New York Stock Exchange
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Somewhat Bearish -45

Stryker stock falls 21.6 percent as TD Cowen cuts target

AI-generated analysis

📉 Stryker Corp. stock closed at USD 274.19, down 21.6 percent year-to-date and near its 52-week low of USD 267.

📉 TD Cowen cut its price target from USD 355 to USD 298 while maintaining a Hold rating on the healthcare equipment maker.

📉 Analysts at TD Cowen expect organic growth of 8.0 percent, missing Stryker's guidance range of 8.3% to 9.3%.

📉 Full-year EPS estimates were lowered to USD 14.92, falling below both company guidance and the broader consensus of USD 15.00.

📉 Q3 revenue estimates of USD 6.625 billion are slightly below the consensus expectation of USD 6.654 billion.

🤝 A 28-analyst consensus price target stands at USD 372.68, indicating a wide spread in Wall Street valuations.

🤝 Raymond James reiterated its Buy rating for Stryker despite the recent downgrade from TD Cowen.

Bullish Signals
  • A 28-analyst consensus price target stands at USD 372.68, which is significantly higher than TD Cowen's new target of USD 298.
  • Raymond James reiterated its Buy rating for Stryker Corp., providing a bullish counterpoint to the recent analyst downgrades.
Risk Factors
  • TD Cowen cut its price target from USD 355 to USD 298, citing concerns over margins and the 2026 outlook.
  • Analysts expect organic growth of 8.0 percent, which is below Stryker's own guidance range of 8.3% to 9.3%.
  • Full-year EPS estimates were reduced to USD 14.92, missing both the company's guidance and the broader consensus estimate.
  • Q3 revenue estimates of USD 6.625 billion are below the consensus expectation of USD 6.654 billion.
Full Analysis
Stryker Corp. shares fell 21.6 percent to close at USD 274.19 on September 21, 2026, trading near its 52-week low of USD 267. The decline was primarily driven by TD Cowen downgrading its price target from USD 355 to USD 298 while maintaining a Hold rating. This analyst action shifted market focus toward concerns regarding the company's margin profile and its ability to meet the 2026 growth outlook amidst broader sector headwinds. TD Cowen specifically cited organic growth expectations of 8.0 percent, which falls short of Stryker's own guidance range of 8.3 percent to 9.3 percent. Additionally, the analyst firm projected an EPS of USD 14.92 for the full year, below both the company's guidance of USD 14.95 to USD 15.10 and the broader consensus estimate of USD 15.00. For the third quarter, TD Cowen estimated revenue at USD 6.625 billion and EPS at USD 3.56, slightly below the consensus figures of USD 6.654 billion and USD 3.57 respectively. Despite the negative analyst revision, the broader analyst sentiment remains mixed with a 28-analyst consensus price target standing at USD 372.68, significantly higher than TD Cowen's new estimate. Raymond James reiterated its Buy rating for the stock, highlighting a wide divergence in Wall Street views on Stryker's near-term execution and valuation. The stock remains close to the lower end of its annual trading range as investors weigh these conflicting signals.