Stryker (NYSE: SYK) reported first-quarter results that missed the Wall Street analyst consensus due to a major cyberattack by Iran-backed hackers.
The morning after the after-market-close earnings release, SYK shares were down more than 3% to $302.59 apiece. The S&P 500 was up slightly.
The results came on the heels of an Iran-backed cyberattack in early March that disrupted operations at the Portage, Michigan–based orthopedics and surgical robotics giant through early April. CEO Kevin Lobo said during this evening’s earnings call: “While our growth this quarter was meaningfully impacted by the cyber incident, we remain encouraged by the solid fundamentals in the markets we serve, and remain well-positioned within them. As a result, we are maintaining our full-year guidance and look forward to another year of healthy performance in 2026 on the M&A front.
“We recently announced the agreement to acquire Amplitude Vascular Systems that we expect to close in the second quarter.”
Stryker in the first quarter also made organizational changes: Its new Ortho Tech business combines the orthopedic instruments portfolio from the company’s Instruments business with the Mako surgical robotics and enabling technologies portfolio from its Orthopaedics business. Company officials said the goal was to align two businesses serving orthopedic customers.
For the quarter that ended March 31, 2026, Stryker earned $745 million, or $1.93 per share, off of $6.020 billion in sales. The bottom line was up 13.9%, and the top line was up 2.6% year over year.
Adjusted to exclude one-time items, Stryker’s Q1 EPS was $2.60. The result was 38¢ behind The Street, where analysts expected EPS of $2.98 and revenue of $6.33 billion.
Stryker is maintaining its 2026 guidance of organic net sales growth in the range of 8.0–9.5% and adjusted net earnings per diluted share in the range of $14.90–15.10.
BTIG analysts Ryan Zimmerman and Iseult McMahon kept their Buy rating of SYK shares, saying that share prices accounted for the risks associated with Stryker’s need to recoup lost sales for the remainder of the year: “We also think it would be naive to assume that SYK cannot recover given their track record and existing order book.”
Said William Blair analysts led by Steven Lichtman: “The company is confident that most of the lost sales will come through this year either through delayed revenue recognition, procedure pushouts, or delayed capital sales. The confidence was seen with guidance reiteration on both the top and bottom lines.”
This story originally ran on April 30, 2026. Updated May 1 with next-day stock price and analyst comments.
