Stryker Corp. (SYK)

Their robotics platform in medical devices has a 70% market share in the U.S., and has a recurring revenue stream. SYK feels it can make up for losses from the cyber attack by the end of the year. 75% of revenues are in the U.S. and 25% internationally. Will benefit from aging demographics (hip and knee replacement), but also shoulder and spine. Pays a 1% dividend which keeps increasing.

It's a play on aging populations. It sold off on weakness in the medical device sectors, which is the time he bough it. He sees good growth.

They are a leader in hips and knees procedures. They will recover and regain market share.

He's wrong about this. Stryker hasn't been consolidating in this space.

He started buying this in 2021 when the stock got hammered during Covid, but recovered after it. SYK has been hammered this year because of overall weakness in the health sector. Also, SYK had a cybersecurity attack. SYK has the best relationships with doctors and is arguably the leader in medical devices. The valuation is attractive. Expects $15 EPS in 2027 at 20x PE. Is growing the topline 10%. The population is aging.

Main business is orthopedics, which is profitable for US hospitals. As artificial joints improve, more people opt for surgery rather than rehab. All of med tech in general has been weak (though he's not sure why). 

Very well run. Consistently gaining market share from JNJ and ZBH. Cybersecurity incident in Q1, which impacted production. High quality. Revenue should grow high single digits for foreseeable future. Yield is 1.24%.

Medtech companies have been weak. After the post-Covid boom, customer volumes have normalized. It doesn't hurt to own this long term, but he doesn't feel investing here is timely.

They provide artificial hips and joints, a growing business as the population ages. They have a good track record of buying and absorbing companies. It's a sticky business because surgeons stay with the same supplier.

He hasn't seen valuations like this since 2020 briefly and 1993. Their big growth driver is orthopedics with robot-assisted surgeries, with growth expected to double over 5 years; robots account for roughly 45% of their orthopedics business.

The sweet spot of knee and hip replacements is only going to get better. Great name, has done well. Plays the aging theme very well. He's looking at it. If you own it, hold on.

5-year performance is 15%, creates returns on ROIC, well run, quality.

Down along with the market. About 73% of revenues from US; rest is from other parts of the world, so lots of growth internationally. Very strong demographic play. Great company.

Owned in the past, but now he owns BSX. Likes the sector, not getting hit as hard today as many other things. Aging population will propel demand for medical devices.