Citizens maintains Stryker at Market Outperform, lowers price target to $390 from $400

Piper Sandler reduced its price target for Stryker (NYSE:SYK) to $325 from $390 after Q3 results missed expectations. The company lowered its full-year guidance, citing deceleration in the large joint market. Shares are down 24% from their 52-week high. Multiple analysts have adjusted their targets and ratings following the earnings report.

Stryker reduced its 2026 outlook due to a cyberattack, SAP rollout issues, and slower hip and knee sales, causing its share price to drop 12% after hours. CEO Kevin Lobo cited lost market visibility. The company reported Q3 results.

Stryker reported Q3 2026 revenue of $6.52B, up 7.6% YoY, but net income fell 12.3% to $753M and EPS declined 11.7% to $1.96. Growth was driven by higher unit volumes in MedSurg, Neurotechnology, and select Orthopaedics businesses. Management anticipates faster growth in lower-margin segments but notes supply and cybersecurity risks.

Stryker (SYK) reported Q3 2026 earnings, with organic sales growth of 7.7% and adjusted EPS of $3.52. The company faced delays in new product sales due to a cyber incident and SAP implementation but remains confident in long-term growth. Stryker updated its guidance, expecting similar Q4 growth. Recent acquisitions include ZuriMED and an investment in CMR Surgical. Vascular business showed sequential improvement, and the company anticipates commercializing AVS' IVL platform in 2027.

Stryker reported Q3 revenue of $6.5B, up 7.7% YoY, but net earnings fell 12.3% YoY. CEO Kevin Lobo cited a market slowdown in hip and knee procedures due to economic challenges. The company lowered its 2026 sales guidance to 6.5-7.0% from 8.3-9.3%. Lobo will step down as CEO at year-end, succeeded by COO Spencer Stiles. Stryker also invested $400M in CMR Surgical for U.S. distribution rights.

Canaccord downgraded Stryker (SYK) to Hold with a $300 price target, citing weak Q3 results and a slowdown in the knee and hip replacement market. 14 analysts revised earnings downward. Stryker reported Q3 revenue of $6.52B, missing estimates, and lowered its full-year guidance. Despite challenges, the company maintains a strong financial position with a perfect Piotroski Score and 16 consecutive years of dividend increases.