Stryker Corporation

Stryker is a four-year double-digit grower whose 2026 stumble was self-inflicted: a cyberattack and a plant outage, not weaker demand. Management says those sales come back in the second half, so the year now rests on factories shipping an order book that is already sold. How much of the cyber-hit sales is still outstanding rather than gone for good?

• The year now depends on a shipping ramp, not on demand.

  Q1 FY2026 organic growth collapsed to 2.4% when the cyberattack shut production for weeks. The full year still needs about 11% growth from here, which management calls a production problem, not a demand one.

• Robots and capital orders are the engine underneath it all.

  Mako installations set a record in each of the last four quarters, and more than 3,000 systems are now placed worldwide, pulling hip and knee implants behind them. Management exited Q2 FY2026 with an elevated backlog and zero cancellations. How far has Mako penetration gone in hips versus knees outside the US?

• Peripheral vascular went from a fix-it story to a drag again.

  After a year of sales-force churn and destocking, one plant outage cut U.S. vascular sales 6.7% and lost emergency procedures outright. Recovery now stretches to the end of Q3 FY2026, yet management still bought more of the same space.