-- Stryker (SYK) is expected to see a financial impact to its Q1 results, when the company reports its quarterly results on May 1, owing to a cybersecurity incident that had a material impact on its operations, RBC Capital Markets said in a research note.
RBC lowered its Q1 estimates on the company, expecting adjusted diluted earnings per share of $2.86 and revenue of $6.23 billion, and said on Monday that the cyberattack appears to have primarily disrupted Stryker's internal business systems rather than its product portfolio.
RBC said it was encouraged with the company's belief that the cyberattack will probably not have a material impact on the company's 2026 guidance of 8% to 9.5% organic revenue growth, but added that any upside potential to this outlook is now "likely limited," and it remains unclear if lost sales will return later in the year.
The bank maintained its outperform rating on Stryker with a $435 price target and said that it continues to see the company as "among the highest-quality, defensive names in its MedTech coverage delivering durable growth."
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