# Stryker Corporation (SYK)

> Source: Nexqual · https://nexqual.com/SYK · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Stryker Corporation (SYK), nexqual.com/SYK" · informational, not investment advice.

**Price:** USD 307.08 (+3.19% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 297.6 · day 299.36–309.67 · 52w 267–389.33 · market cap $118B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $25.8B, net income $3.73B (14.4% margin), free cash flow $4.70B (SEC filings).
- Valuation: P/E 31.6x (avg 41.5x at the last 3 fiscal year-ends), EV/EBITDA 18.1x, net debt $11.5B.
- 4 of 80 tracked superinvestors hold SYK (13F, Q2 2026): 0 new, 0 added, 4 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 6 Form 4 filings, $219M; 5 not under a Rule 10b5-1 plan ($217M); 3 by opportunistic insiders (2 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $27K.
- Analysts: Buy (mean 1.93 on a 1–5 scale) (29 analysts), mean target USD 362.62 (range 298–465).
- Total return with dividends: 1Y -18.9% vs S&P 500 +14.9%; 5Y +17.4% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 3.55, revenue estimate $6.62B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $17.1B | $18.4B | $20.5B | $22.6B | $25.1B | $25.8B |
| Gross profit | $11.0B | $11.6B | $13.1B | $14.4B | $16.1B | — |
| Operating income | $2.58B | $2.84B | $3.89B | $3.69B | $4.89B | $5.53B |
| Net income | $1.99B | $2.36B | $3.17B | $2.99B | $3.25B | $3.73B |
| EPS (diluted) | $5.21 | $6.17 | $8.25 | $7.76 | $8.40 | — |
| Free cash flow | $2.74B | $2.04B | $3.14B | $3.49B | $4.28B | $4.70B |
| Gross margin | 64.1% | 62.8% | 63.7% | 63.9% | 64.0% | — |
| Operating margin | 15.1% | 15.4% | 19.0% | 16.3% | 19.5% | 21.4% |
| Net margin | 11.7% | 12.8% | 15.4% | 13.2% | 12.9% | 14.4% |
| Revenue growth | +19.2% | +7.8% | +11.1% | +10.2% | +11.2% | — |
| Cash + short-term investments | $3.02B | $1.93B | $3.05B | $3.74B | $4.10B | — |
| Total debt | $12.5B | $13.0B | $13.0B | $13.6B | $15.9B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 31.6x · P/S 4.6x · EV/EBITDA 18.1x · EV/Sales 5.0x · P/FCF 25.1x · P/B 4.9x · FCF yield 3.99% · Earnings yield 3.17% · Dividend yield (paid, TTM) 1.12% · Net debt $11.5B · EV $129B
P/E at fiscal year-ends: Dec 2025 41.8x, Dec 2024 46.4x, Dec 2023 36.3x.

## Superinvestors (SEC 13F-HR, Q2 2026)
4 of 80 tracked investors hold SYK. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Terry Smith | Fundsmith | 6.72% | $917M | Reduced -4.8% |
| Jensen Investment Management |  | 4.50% | $186M | Reduced -15.3% |
| AKO Capital |  | 0.15% | $6.5M | Reduced -91.8% |
| Mairs & Power | Mairs & Power Funds | 0.01% | $1.3M | Reduced -2.0% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
1 of 6 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-21 | Crotty Dylan Bram | Group President | 441 | $145K | 3.1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-18…2026-08-19 | Stryker Ronda E | Director | 350,000 | $118M | 2.4% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-18 | King Debra | See Remarks | 826 | $278K | 11.7% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-28 | Fletcher Robert S | VP, Chief Legal Officer | 4,544 | $1.4M | 29.7% | Yes (adopted February 26, 2026) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-26 | Stryker Ronda E | Director | 310,000 | $96.8M | 2% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-11 | Fink M Kathryn | VP, Chief HR Officer | 8,720 | $2.5M | 38.8% | No | Too little history (no open-market trades in 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $27K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price |
|---|---|---|---|---|---|
| 2019-06-26…2022-11-22 | Brainerd Mary K | Director | 131 | $27K | 204.09 |

## Analysts
Consensus Buy (mean 1.93 on a 1–5 scale), 29 analysts; mean target USD 362.62 (low 298, high 465).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | BTIG | Target lowered | Buy | $358 → $316 |
| 2026-10-07 | Truist Securities | Target lowered | Hold | $340 → $310 |
| 2026-10-07 | Barclays | Initiated | Overweight | $375 |
| 2026-09-30 | Stifel | Target lowered | Buy | $360 → $330 |
| 2026-09-22 | TD Cowen | Target lowered | Hold | $355 → $298 |
| 2026-09-18 | Canaccord Genuity | Target lowered | Buy | $400 → $385 |
| 2026-09-10 | Citigroup | Target lowered | Buy | $399 → $360 |
| 2026-09-09 | Wells Fargo | Target lowered | Overweight | $418 → $348 |
| 2026-08-13 | Wolfe Research | Downgrade | Outperform → Peer Perform |  |
| 2026-08-03 | Citizens | Target lowered | Market Outperform | $440 → $400 |
| 2026-07-31 | RBC Capital | Target lowered | Outperform | $435 → $420 |
| 2026-07-31 | JP Morgan | Target lowered | Overweight | $400 → $350 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -18.9% | +17.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -19.0% | +3.3% |
| Volatility (annualized) | 30.5% | 25.1% |
| Max drawdown | -30.0% (Feb 2026→Sep 2026) | -31.8% (Jul 2025→Sep 2026) |

## Peers (Medical Devices)
MDT (Medtronic plc.) USD 96.59 +3.83% · ABT (Abbott Laboratories) USD 102.51 +1.99% · BSX (Boston Scientific Corporation) USD 46.01 +3.37% · EW (Edwards Lifesciences Corporatio) USD 90.09 +1.91% · GEHC (GE HealthCare Technologies Inc.) USD 71.42 +3.49% · DXCM (DexCom, Inc.) USD 78.32 -2.42%

## More
Full page: https://nexqual.com/SYK · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name SYK in their own reports (relationship from SYK's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Xtant Medical Holdings, Inc. (XTNT) | 10-K 2026-03-31 | "Inc., RegionalCare Hospital Partners, Wright Medical Group, Inc., which was acquired by Stryker Corporation (NYSE: SYK) in November 2020," |
| partner | SBC Medical Group Holdings Inc (SBC) | 10-K 2026-03-27 | "Braun SE, Cynosure Lutronic, Evolus, Inc., Galderma S.A., Genesis Biosystems, Inc., Inmode Ltd., IRIDEX Corporation, Lumenis Be Ltd., Sinclair Pharma Limited, Stryker Corporation, and Surgery Partners…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| MedSurg and Neurotechnology: | $3.63B | 55.0% | +9.7% | $1.02B | 28.1% |
| Orthopaedics: | $2.96B | 45.0% | +9.1% | — | — |
| Orthopaedics | $2.96B | 45.0% | +9.1% | $1.01B | 34.0% |
| Total revenue | $6.59B | 100% | — | $2.03B | 30.8% |
The lines above cover 145% of total revenue.

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Medical | $1.12B | 17.0% | +13.3% |
| Traumaand Extremities | $1.07B | 16.3% | +12.0% |
| Endoscopy | $1.00B | 15.2% | +11.7% |
| Instruments | $1.00B | 15.2% | +9.3% |
| Ortho Tech | $717.0M | 10.9% | +10.5% |
| Knees | $693.0M | 10.5% | +8.3% |
| Neuro Cranial Instruments | $681.0M | 10.3% | +10.6% |
| Orthopaedic Instruments | $523.0M | 7.9% | +4.4% |
| Neurovascular | $496.0M | 7.5% | -0.4% |
| Hips | $479.0M | 7.3% | +2.8% |
| Other Orthopedics | $194.0M | 2.9% | +31.1% |
| Enabling Technologies | $28.0M | 0.4% | -17.6% |
| Spinal Implants | $3.0M | 0.0% | -40.0% |
| Total revenue | $6.59B | 100% | — |
The lines above cover 121.6% of total revenue.

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $4.96B | 75.3% | +8.9% |
| International | $1.63B | 24.7% | +11.0% |
| Total revenue | $6.59B | 100% | — |

## Company outlook (8-K filed 2026-07-30)

- "We are narrowing our full year 2026 guidance and now expect organic net sales growth (2) in the range of 8.3% to 9.3% and adjusted net earnings per diluted share (2) in the range of $14.95 to $15.10."
- "Additionally, foreign exchange is expected to have a slightly favorable impact on both sales and adjusted net earnings per diluted share (2) should rates hold near current levels."
- "(2) We are unable to present a quantitative reconciliation of our expected net sales growth to expected organic net sales growth as we are unable to predict with reasonable certainty and without unreasonable effort the impact and timing of acquisitions and divestitures and the impact of foreign currency exchange rates."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $3.55 | $3.68 | -3.7% | $6.62B | 25 |
| Next quarter (ends 2026-12-31) | $5.12 | $5.18 | -1.2% | $7.96B | 24 |
| Current fiscal year (ends 2026-12-31) | $14.95 | $14.98 | -0.2% | $27.17B | 28 |
| Next fiscal year (ends 2027-12-31) | $16.66 | $16.72 | -0.3% | $29.49B | 28 |