Leerink lowered its price target for Stryker to $407 from $410 while maintaining an Outperform rating, citing an attractive risk-reward despite a first-quarter revenue miss. The company reported earnings per share of $2.60 versus an estimate of $2.98, with revenue of $6 billion falling short of the expected $6.34 billion. Stryker reiterated its 2026 projection, and management expects a significant portion of the revenue deficit from a cyberattack to be recovered in the second half of the year. Leerink reduced its fiscal 2027 and 2028 earnings per share estimates by about 1% but still views Stryker as one of the better-positioned names in large-cap medical technology.
Stryker CorporationLeerink lowered price target and EPS estimates after Q1 revenue miss and earnings shortfall.