ClearBridge Investments Added Healthcare Sector Stock Stryker Corporation (SYK)

ClearBridge Investments, an investment management company, released its “ClearBridge All Cap Growth Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund outperformed the Russell 3000 Growth benchmark index. Steadily growing and high free-cash-flow generating companies in the portfolio enabled the fund to outperform during the quarter. To know about the fund’s best picks in 2022, please check its top 5 holdings.

In the Q2 2022 investor letter, ClearBridge Investments discussed the performance of ClearBridge All Cap Growth Strategy fund. The letter mentioned various stocks like Stryker Corporation (NYSE:SYK). Stryker Corporation (NYSE:SYK) is a medical technology company, headquartered in Kalamazoo, Michigan. The stock of Stryker Corporation (NYSE:SYK) closed at $215.90 per share on August 3, 2022. One-month return of Stryker Corporation (NYSE:SYK) was 7.04% and its shares lost 18.38% of their value over the last 52 weeks. Stryker Corporation (NYSE:SYK) has a market capitalization of $81.679 billion.

Here is what ClearBridge All Cap Growth Strategy specifically said about Stryker Corporation (NYSE:SYK) in its second-quarter investor letter:

“The continued selloff in the market in the second quarter offered entry points into a number of pipeline ideas that were significantly more expensive months ago but are now becoming more appropriately valued. We took advantage by adding three new names during the second quarter: Sherwin-Williams (SHW) in the materials sector and Stryker Corporation (NYSE:SYK) in the health care sector are expected to provide greater stability to the portfolio while Airbnb (ABNB) in the consumer discretionary sector increases exposure to reopening and services spending.”

Copyright: nimon / 123RF Stock Photo

Although ClearBridge All Cap Growth Strategy added Stryker Corporation (NYSE:SYK), the share is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 41 hedge fund portfolios held Stryker Corporation (NYSE:SYK) at the end of the first quarter which was 39 in the previous quarter.

We discussed Stryker Corporation (NYSE:SYK) in another article that shared Nelson Capital Management’s views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.