Yahoo Finance What Makes Stryker Corporation (SYK) an Investment Choice?
Baron Funds, an investment management company, released its “Baron Health Care Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. The fund advanced 8.92% (Institutional Shares) in the quarter compared to an 8.52% gain for the Russell 3000 Health Care Index (benchmark) and a 10.56% increase for the S&P 500 Index. The fund rose 13.61% on an annualized basis since its inception on April 30, 2018, compared to an 11.45% gain for the benchmark and a 14.24% gain for the index. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Baron Health Care Fund featured stocks like Stryker Corporation (NYSE:SYK) in the Q1 2024 investor letter. Headquartered in Portage, Michigan, Stryker Corporation (NYSE:SYK) is a medical technology company. On April 23, 2024, Stryker Corporation (NYSE:SYK) stock closed at $334.91 per share. One-month return of Stryker Corporation (NYSE:SYK) was -6.63%, and its shares gained 12.09% of their value over the last 52 weeks. Stryker Corporation (NYSE:SYK) has a market capitalization of $127.423 billion.
Baron Health Care Fund stated the following regarding Stryker Corporation (NYSE:SYK) in its first quarter 2024 investor letter:
"We also added to Surgery Partners, Inc., a leading operator of ambulatory surgery centers, and Stryker Corporation (NYSE:SYK), a large diversified medical device company. We think Surgery Partners should benefit from a multi-year trend of surgical procedures migrating from inpatient hospitals to outpatient centers. Stryker reported strong fourth quarter financial results, highlighted by 11.5% organic revenue growth, and management provided solid guidance for 2024, calling for 7.5% to 9.0% organic revenue growth and double-digit EPS growth."
A medical team wearing surgical masks and gloves carrying out a hip or knee joint replacement surgery with the help of surgical navigation systems.
Stryker Corporation (NYSE:SYK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Stryker Corporation (NYSE:SYK) was held by 50 hedge fund portfolios, compared to 47 in the previous quarter, according to our database.
We discussed Stryker Corporation (NYSE:SYK) in another article where we shared the list of best medical device stocks to buy. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
