Heres Why ClearBridge Large Cap Growth Strategy Added Stryker Corporation (SYK) - Yahoo Finance

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ClearBridge Investments, an investment management company, released its “ClearBridge Large Cap Growth Strategy” second quarter 2023 investor letter. A copy of the same can be downloaded here. The market’s increased concentration on generative AI pushed the mega-cap growth stocks to outperform in the quarter. The strategy outperformed its benchmark the Russell 1000 Growth Index through a high-beta-driven period of mega-cap dominance. In addition, please check the fund’s top five holdings to know its best picks in 2023.

ClearBridge Large Cap Growth Strategy highlighted stocks like Stryker Corporation (NYSE:SYK) in the Q2 2023 investor letter. Headquartered in Kalamazoo, Michigan, Stryker Corporation (NYSE:SYK) is a medical technology company. On July 7, 2023, Stryker Corporation (NYSE:SYK) stock closed at $294.27 per share. One-month return of Stryker Corporation (NYSE:SYK) was 5.13%, and its shares gained 49.05% of their value over the last 52 weeks. Stryker Corporation (NYSE:SYK) ) has a market capitalization of $111.707 billion.

ClearBridge Large Cap Growth Strategy made the following comment about Stryker Corporation (NYSE:SYK) in its second quarter 2023 investor letter:

"Supporting our widely-held names in the second quarter were solid contributions in health care, where we benefited from an overweight to medical device stocks Intuitive Surgical and Alcon which moved higher on signs of improving procedure growth. Supply chain headwinds and labor shortage bottlenecks are now easing while ambulatory surgery centers are adding more surgery hours, which should be a boon to these stocks as well as to orthopedic and spine surgery products specialist Stryker Corporation (NYSE:SYK)."

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Stryker Corporation (NYSE:SYK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 42 hedge fund portfolios held Stryker Corporation (NYSE:SYK) at the end of first quarter which was 38 in the previous quarter.

We discussed Stryker Corporation (NYSE:SYK) in another article and shared the list of best robotics stocks to buy. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.