Stryker stock slips as 2026 outlook is cut

Stryker lowered its 2026 outlook after third-quarter performance fell short of management expectations, according to a Morningstar report published on October 29. Stryker stock traded at 288.55 euros on Lang & Schwarz at 15:01 CET on Wednesday, November 11, 2026, 0.48 percent below the Xetra close of Tuesday, November 10.

Third-quarter growth missed expectations

Third-quarter revenue rose 7.7 percent year over year to 6.52 billion US dollars. That increase was matched by organic sales growth, but revenue fell short of the 6.62 billion US dollar analyst forecast cited by Morningstar.

Reported net earnings declined to 753 million US dollars, or 1.96 US dollars per diluted share, from 859 million US dollars, or 2.22 US dollars, a year earlier. A 293 million US dollar goodwill impairment weighed on the reported comparison. Adjusted earnings per share increased to 3.52 US dollars, but remained below the 3.55 US dollar FactSet estimate.

Segment performance was uneven. MedSurg and Neurotechnology sales advanced 9.2 percent, while Orthopaedics revenue increased 5.7 percent. Weaker hip and knee procedure trends, operational disruption and lingering supply constraints contributed to the more cautious assessment of near-term growth.

Lower targets shift investor focus

Stryker now expects full-year organic sales growth of 6.5 percent to 7.0 percent, compared with its previous range of 8.3 percent to 9.3 percent. Adjusted earnings per share guidance was reduced to 14.80 US dollars to 14.90 US dollars from 14.95 US dollars to 15.10 US dollars.

Chief Executive Kevin Lobo said the quarter reflected good performance and double-digit adjusted earnings growth, but fell short of the company's expectations. Management still expects a solid fourth quarter and momentum heading into 2027. The reduced targets make procedure volumes, Orthopaedics execution and the preservation of margin gains key indicators for investors.

The adjusted operating margin improved by 60 basis points to 26.2 percent, offering some protection against slower sales momentum. That improvement does not remove the need for stronger execution in joint replacement and a recovery in areas affected by supply and commercial disruptions.

Broader market direction remains relevant for medical-technology shares; investors can follow the S&P 500 market environment.

Further product launches, procedure trends and the company's fourth-quarter update will shape the next reassessment of the outlook. See More news and analyses on Stryker stock.