TD Cowen cuts target for Stryker stock from USD 355.00 to USD 298.00

Published on 10/01/2026 at 15:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 revenue reached USD 6.59 billion, up 9.40 percent year over year. Stryker stock costs EUR 244.55 on October 1, 2026 versus EUR 243.20.

Isometrische Illustration der Wertschöpfungskette von Rohstoff bis Operationssaal — Isometrische 3D-Grafik zeigt die Wertschöpfungskette der Medizintechnik-Branche, in der Stryker Corp. US8636671013 tätig ist, Illustration mit AI erstellt.

Stryker Corp. (ISIN US8636671013) was trading at EUR 244.55 at Lang & Schwarz on October 1, 2026, up 0.56 percent versus the prior close of EUR 243.20. TD Cowen cut its price target for Stryker from USD 355.00 to USD 298.00 on September 22, 2026, while keeping a Hold rating, as Markets Insider reported. The target reduction puts second-half execution at the center of the Stryker stock debate.

TD Cowen flags second-half pressure

TD Cowen cited more intense seasonality after a strong June quarter and lowered its estimates for the second half of fiscal 2026. The note also referenced softer U.S. hip and knee trends, weaker outside-U.S. hip performance and supply issues involving Inari, according to Markets Insider.

The new USD 298.00 target is USD 47.00 above TD Cowen's prior Hold reference of USD 355.00? No. The revised target is USD 57.00 below the old target, a 16.06 percent reduction calculated against USD 355.00. That change contrasts with the company's recovery narrative after its first-quarter cyber incident.

Second-quarter recovery has numbers

Stryker generated USD 6.59 billion in revenue in the second quarter of 2026, up 9.40 percent from the same quarter a year earlier. Adjusted earnings per share reached USD 3.69 versus a USD 3.49 consensus estimate, a USD 0.20 beat, according to MarketBeat. The comparison matters because the company entered the quarter rebuilding production after the disruption described in its earnings call.

Guidance points to execution

In the second-quarter 2026 earnings call, Stryker described 9.00 percent organic sales growth and adjusted earnings per share growth of 17.90 percent. The company narrowed fiscal 2026 organic sales growth guidance to 8.30-9.30 percent and adjusted earnings per share guidance to USD 14.95-15.10, while reporting an adjusted operating margin of 27.40 percent, according to Yahoo Finance. The gap between the guidance range and TD Cowen's more cautious view makes the next quarterly update a key test of the production recovery.

Stock remains below its yearly high

Stryker had a market capitalization of USD 106.2 billion on October 1, 2026, while its NYSE 52-week range was USD 267.00 to USD 392.55. The next reported earnings date is October 29, 2026, with the third-quarter 2026 report scheduled for that date.

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