Stryker Corp. slashed its outlook as the medical device company struggles to shake off the lingering effects of a cyberattack in March that disrupted manufacturing operations.

By Chloé Meley The Portage, Michigan-based company now expects organic revenue to rise between 6.5% and 7% in 2026, compared to a previous forecast of as much as 9.3% growth. It also lowered its adjusted earnings per share guidance for the year.

The company had already narrowed its outlook after the second-quarter results, saying it had to boost production and ship a backlog of equipment to meet second-half growth targets following the cyber hack.

The third-quarter performance “did fall short of our expectations,” Chief Executive Officer Kevin A. Lobo said, though a robust performance in the year’s final quarter, he added, should generate solid momentum going into 2027.

The company is gaining market share in knee and hip procedures with its Mako robot and is able to finance innovations as margins expand, according to Bloomberg Intelligence analysts Matt Henriksson and Larson Cole. Stryker recently invested $400 million in soft-tissue robotic firm CMR Surgical.

Competition is intensifying in the surgical robot sector, with Johnson & Johnson and Medtronic Plc both launching their own products to rival industry leader Intuitive Surgical Inc.’s da Vinci robots. Intuitive cut its full-year target for procedure growth earlier this month, keeping alive concerns over increasing competition and reduced hospital spending.

Changes to the Affordable Care Act and Medicaid programs raised the prospect of fewer procedures as coverage falls, putting pressure on medical technology firms throughout 2026.