Stryker (SYK) Stock News

BTIG lowered its price target for Stryker from $358.00 to $316.00.

Barclays began covering Stryker shares with an Overweight recommendation.

Barclays started Stryker (SYK) at Overweight with a $375 price target, signaling confidence in the medical-device maker's outlook.

Stryker announced a planned leadership succession. Kevin Lobo will become Executive Chair of the Board, and current President and COO Spencer Stiles will become CEO, effective January 1, 2027. Lobo has been CEO since 2012, tripling net sales from $8.7B to over $26B.

Stryker designated President and COO Spencer Stiles to succeed Kevin Lobo as CEO effective Jan. 1. Lobo becomes executive board chair. Stiles, 50, has been with Stryker for 27 years. He also joins the board, expanding it to 11 members.

Stryker CEO Succession: Spencer Stiles to Take Over Jan. 1.

Stryker shares fell $26.70 (-8.8%) on September 8 after CFO Preston Wells said a manufacturing issue in the Peripheral Vascular unit is continuing into Q4, contradicting prior guidance that it would be resolved by end of Q3. The drop erased over $10 billion in market cap. Hagens Berman has opened an investigation into whether Stryker violated securities laws.