Stryker Corp.
SYK - Insider Information
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+ FollowMarket Cap$129.87B
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Earnings Call Q3 2026
October 29, 2026 - AI Summary
Q3 performance: strong underlying growth, but missed expectations (key negative)
- Organic sales growth: +7.7% in Q3; MedSurg & Neuro +9.1%, Orthopaedics +5.9%.
- Adj. EPS: $3.52, +10.3% YoY, driven by gross margin expansion (operational efficiencies + tariff benefit) and disciplined expenses.
- Despite the strong EPS/margins, management said overall results fell short of expectations—mainly due to weakness in Hip & Knee and Peripheral Vascular and some execution delays.
Orthopaedics headwinds: Hip & Knee slowdown is the main drag (good vs bad)
- Where weakness is concentrated: Hip & Knee market slowdown (not primarily extremities). Kevin said upper extremities remain high growth.
- Why demand is soft: U.S. procedural slowdown tied to affordability pressure (higher insurance premiums/deductibles), plus more pre-authorization denials causing delays in patient access.
- Market estimate: management expects U.S./industry hip-knee growth around ~2.5% for the year (a step down from the prior ~5–6 years).
- Execution factors compounded the issue: delays in order visibility after SAP implementation (July) and distraction from the cyber incident (Q1 ’26) reduced commercial execution/new product momentum.
Peripheral Vascular: sequential improvement, but still a risk area
- Q3 included one-time revenue from the Peripheral Vascular China joint venture after a regulatory milestone in September; this helped offset lost revenue from ongoing supply disruption.
- Management said teams are meaningfully restoring supply, and expects inventory/product availability to normalize through year-end.
- Medium-term opportunity: confident in Peripheral Vascular as a growth/accretive business; looking to commercialize AVS’ IVL platform in 2027 and important data from PEERLESS II (FlowTriever).
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$316.40
6.9% downside
Current Fair Value
6.9% downsideOvervalued by 6.9% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $129.87 Billion |
|---|---|
| Enterprise Value | $141.83 Billion |
| Annual dividend | $3.52 |
| Dividend yield | 1.21% |
| Earnings per Share | $8.49 |
| Beta | 0.78 |
| Outstanding Shares | 382,200,000 |
Return
| Return on Equity | 15.10% |
|---|---|
| Return on Assets | 7.56% |
| Return on Invested Capital | 11.91% |
Valuation & Multiples
| P/E Ratio | 30.88 |
|---|---|
| PEG | -250.28 |
| Price to Sales | 5.0 |
| Price to Book Ratio | 5.48 |
| Enterprise Value to Revenue | 5.39 |
| Enterprise Value to EBIT | 28.88 |
| Enterprise Value to Net Income | 39 |
| Total Debt to Enterprise | 0.11 |
| Debt to Equity | 0.64 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 29, 2026
EPS Estimate
$3.55
Consensus analyst estimateRevenue Estimate
$6.62 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 4, 2027
EPS Estimate
$5.03
Consensus analyst estimateRevenue Estimate
$7.70 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.25, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.2500▼ 30.60% |
|---|---|
| Total Calls | 3,200▼ 99.84% |
| Total Puts | 800▼ 99.93% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 10.26%▼ 70.69% |
|---|---|
| Total Invested | $10.80B▼ 88.97% |
| Investors Holding | 905▼ 1436.00% |
About Stryker Corp.
40,000 employees
CEO: Kevin Lobo
Stryker is one of the world's leading medical technology companies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in Orthopaedics, Medical and Surgical, and Neur...