Stryker's Q1 2026 Results Show Mixed Performance Amid Cyber Recovery — Stryker Corporation

Event summary

Q1 2026 net sales increased 2.6% to $6.0 billion, with organic growth at 2.4%.
Adjusted operating income margin contracted by 180 basis points to 21.1%.
MedSurg and Neurotechnology segment grew 5.0%, while Orthopaedics saw minimal reported growth (0.1%).
Company restructured into new Ortho Tech business unit combining orthopedic instruments and Mako technologies.
Maintained full-year guidance for organic sales growth of 8.0%–9.5% and adjusted EPS of $14.90–$15.10.

The big picture

Stryker's Q1 results reflect a mixed recovery from its March cyber incident, with strong MedSurg growth offset by Orthopaedics' stagnation. The restructuring aims to streamline operations, but investors will scrutinize whether margin pressures persist amid broader healthcare cost-containment trends. With $6 billion in quarterly revenue, Stryker remains a key player in medical technology, though its ability to maintain full-year guidance hinges on execution across segments.

What we're watching

Segment Dynamics: Whether Stryker's MedSurg and Neurotechnology segment can sustain its outperformance while Orthopaedics lags.
Margin Recovery: The pace at which adjusted operating margins rebound after Q1 contraction, particularly amid pricing pressures.
Restructuring Impact: How the new Ortho Tech business unit accelerates innovation and improves customer experience.