Stryker Shares Plunge 11% After Q3 Miss and Steep Guidance Cut Tied to March Cyberattack

Stryker Corp. reported third-quarter 2026 results that missed Wall Street expectations on both revenue and earnings, and slashed its full-year organic growth guidance, sending shares down roughly 11.8% in after-hours trading Thursday and another 10% in Friday premarket, falling to around $279.98 from Thursday's close of $311.75.

Revenue for the quarter came in at $6.52 billion, up 7.7% year over year on both a reported and organic basis, but below the FactSet consensus of $6.62 billion. Adjusted earnings per diluted share were $3.52, up from $3.19 a year earlier but short of the $3.55 analyst estimate. Reported net earnings fell 12.3% to $753 million.

The company cited lingering disruptions from a March cyberattack that hit its manufacturing operations and supply chain. Stryker now expects full-year organic revenue growth of 6.5% to 7%, down sharply from its prior forecast of as much as 9.3%, and lowered its adjusted EPS guidance range to $14.80 to $14.90 for 2026. Weakness in the hips and knees segment was also flagged as a contributing headwind.

The earnings miss and guidance reduction triggered a wave of analyst target cuts. Citizens lowered its price target to $390 while maintaining a positive stance. Needham, Raymond James, RBC Capital, BMO, and Piper Sandler all reduced their targets, and Canaccord Genuity downgraded the stock outright, citing weak execution and broader market slowdown. The stock also appeared on a broad list of downgrades issued October 30.