On July 30, Stryker fell 8.63% in after-hours trading, trading at $315.0/share, with turnover of $19.24 million. The decline was triggered by the release of the company's second quarter earnings report after market close.

Stryker reported Q2 adjusted EPS of $3.69, beating the analyst consensus estimate of $3.49 by 5.73%, representing a 17.89% increase over $3.13 per share from the same period last year. Revenue came in at $6.589 billion, narrowly exceeding the $6.579 billion estimate. Despite the top- and bottom-line beats, the stock suffered heavy selling pressure in after-hours trading. The negative reaction follows a mixed recent history, as Q1 results had missed both EPS and revenue estimates due to a cybersecurity incident that disrupted operations earlier in the year. Prior to the earnings release, UBS had upgraded Stryker to Buy with a $400 price target on July 28, while the analyst consensus target stood at approximately $389.88.

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