Stryker Corp. (SYK) told investors at the Wells Fargo 21st Annual Healthcare Conference that it is maintaining its 2026 organic growth guidance of 8.3% to 9.3%, with the midpoint of 8.8% unchanged. The guidance comes after a cyber‑related manufacturing shutdown that the company estimates will shave $350 million from its 2026 results.
The firm said it still expects to deliver 150 basis points of margin expansion by the end of 2027, a target it believes remains achievable. In the joint‑replacement segment, Stryker projects mid‑single‑digit growth in 2027, forecasting 4%‑6% revenue growth and aiming to outperform the market by 200 to 300 basis points.
Supply constraints in the peripheral‑vascular (PV) business are the most immediate headwind. The cyber incident forced a shutdown that reduced PV growth by roughly 70 to 80 basis points in the second quarter and is expected to linger into the third and possibly the fourth quarter. Stryker is prioritising its top 100 customers to preserve inventory for existing procedures but cannot yet support the full customer base or pursue new wins.
The company highlighted several product catalysts. The PEERLESS II study, slated for 2027, should expand the PV market category, while the AVS acquisition will introduce interventional vascular lithotripsy (IVL) with regulatory approval anticipated by the end of 2026. In orthopedics, the Mako robotic‑assisted platform continues to drive knee‑procedure volumes, and the newly launched Mako 4 hip software supports complex hip revisions. Mako RPS is now in full rollout, and a Hip Impactor is expected within a year. The Triathlon Gold system targets patients with metal allergies.
Capital equipment, which accounts for about 10% of revenue, shows long order backlogs of nine to twelve months, and medical‑bed production has added an extra shift to meet demand. Trauma and extremities products are growing faster than the market, helped by consignment inventory that mitigated the cyber‑incident impact.
Stryker’s financial metrics remain solid. The stock trades around $277, up about 0.5% on the day, though it is down 22% over the past year. The company’s 52‑week low sits near $281, its price‑to‑earnings ratio is 29.24 and gross profit margin stands at 65.6%. Revenue growth over the last twelve months was 8.48%.
CFO Preston Wells emphasized execution on controllable factors and reiterated confidence in the firm’s technology portfolio, noting that “we still have a very strong business and a very strong proposition” despite the current challenges.
