5 Oversold Blue Chip Stocks To Buy

3. Stryker Corporation (NYSE:SYK)

Number of Hedge Fund Holders: 42

14-day RSI as of August 3: 26.34

Our hedge fund data shows 42 hedge funds long Stryker Corporation (NYSE:SYK) in the first quarter. Their total stake value was $2.5 billion.

Stryker Corporation (NYSE:SYK) is a medical technology company. It is based in Kalamazoo, Michigan.

An Outperform rating and a $325 price target were held on Stryker Corporation (NYSE:SYK) shares by Shagun Singh at RBC Capital on July 12.

ClearBridge Investments said the following about Stryker Corporation (NYSE:SYK) in its second-quarter 2022 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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