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Stryker
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Latest analysis
Updated Oct 30, 2026
Stryker Q3 2026: 7.7% organic growth and adjusted margin expansion overshadowed by $293M Peripheral Vascular goodwill impairment
Stryker delivered 7.7% organic net sales growth in Q3 2026, driven by broad-based volume gains across all MedSurg and Neurotechnology businesses, with adjusted operating margin expanding 60 basis points to 26.2%. The quarter is defined by a $293 million goodwill impairment on the Peripheral Vascular reporting unit — acquired as part of the Inari deal — reflecting supply constraints and a longer-than-expected path to market recovery, with $3.26 billion of goodwill remaining in that unit. Tariff reversals contributed 90 basis points to gross margin in the nine-month period, masking underlying manufacturing cost pressure that includes idle production time from a cybersecurity incident in Q1 2026.
Tone: mixedRevenue
$25.1B
SYK 10-K · FY 2025
Employees
56,000
Revenue growth YoY
+11.2%
Founded
1941
Profile
SYK 10-K Item 1 · Feb 11, 2026Stryker Corporation is a global medical technology company offering products and services across MedSurg, Neurotechnology, and Orthopaedics. The company sells into approximately 61 countries through company-owned subsidiaries and third-party distributors. It impacts more than 150 million patients annually.
Read filing description ↓ Collapse description ↑
Stryker Corporation is a global leader in medical technologies and, together with our customers, we are driven to make healthcare better. We offer innovative products and services in MedSurg, Neurotechnology and Orthopaedics that help improve patient and healthcare outcomes. Alongside our customers around the world, we impact more than 150 million patients annually. Our products are sold in approximately 61 countries through company-owned subsidiaries and branches as well as third-party dealers and distributors, and include surgical equipment and surgical navigation systems; endoscopic and communications systems; patient handling, emergency medical equipment and intensive care disposable products; clinical communication and artificial intelligence-assisted virtual care platform technology; products for traditional brain and open skull-based surgical procedures; minimally invasive products for the treatment of acute ischemic and hemorrhagic stroke and venous thromboembolism; implants used in joint replacement and trauma surgeries; Mako robotic-arm assisted technology; as well as other products used in a variety of medical specialties. Most of our products are marketed directly to doctors, hospitals and other healthcare facilities. We segregate our operations into two reportable business segments: (i) MedSurg and Neurotechnology and (ii) Orthopaedics.
Primary products
- Instruments
- Endoscopy
- Medical
- Vascular
- Neuro Cranial
- Knees
Business segments
End markets
Geographies
Named competitors
“We believe our commitment to innovation, quality and service and our reputation differentiates us in the highly competitive product categories in which we operate and enables us to compete effectively.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Consolidated net sales increased 11.2% as reported in 2025, with constant currency growth of 10.7%, driven by higher unit volume across all businesses and contributions from acquisitions.
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