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Market

Stryker cuts its 2026 growth outlook as hip and knee volumes slow

MedDevice Startups Staff · 2 days ago · 2 min read · Via MedTech Dive

Stryker lowered its 2026 sales growth guidance to 6.5 to 7.0 percent on October 30, down from 8.3 to 9.3 percent. Third quarter revenue was $6.5 billion, up 7.7 percent. Knee sales rose 1.1 percent. Hip sales fell 1 percent. Net earnings were $753 million, down 12.3 percent.

CEO Kevin Lobo said it is now clear there is a market slowdown in hips and knees, and put the cause on affordability: higher US premiums and deductibles, plus pre-authorization denials. He said Stryker has not lost that business to competitors, and that patients are delaying procedures. CFO Preston Wells had flagged the slower sales at an event the month before. Lobo steps down at the end of the year, with COO Spencer Stiles taking over in January.

An orthopedic startup building a 2027 forecast off the last three years of procedure growth now has a large-cap data point arguing the other way. Lobo's other remark, that joint replacement has historically tracked economic cycles, is the one to carry into the model.

Questions & Answers

Why did Stryker lower its 2026 sales guidance?

Stryker cut 2026 sales growth guidance to 6.5 to 7.0 percent from 8.3 to 9.3 percent on October 30, 2026, after hip and knee procedure volumes came in below plan. CEO Kevin Lobo pointed to affordability, including higher US insurance premiums, deductibles and pre-authorization denials.

What were Stryker's third quarter 2026 results?

Stryker reported third quarter 2026 revenue of $6.5 billion, up 7.7 percent year over year, and net earnings of $753 million, down 12.3 percent. Knee sales grew 1.1 percent and hip sales fell 1 percent.

Who is taking over as Stryker CEO?

Kevin Lobo plans to step down as Stryker CEO at the end of 2026. Chief operating officer Spencer Stiles takes over in January.

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