Diamond Hill Capital, an investment management company, released its “Large Cap Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -5.23% net of fees compared to a -4.61% return for the Russell 1000 Index. Holdings in the technology and consumer discretionary sectors led to the underperformance of the strategy in the quarter. In contrast, stock selection in energy, consumer staples, and materials sectors positively contributed to the strategy’s performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Diamond Hill Capital discussed stocks like Stryker Corporation (NYSE:SYK) in the Q3 2022 investor letter. Headquartered in Kalamazoo, Michigan, Stryker Corporation (NYSE:SYK) is a medical technology company. On October 25, 2022, Stryker Corporation (NYSE:SYK) stock closed at $224.62 per share. One-month return of Stryker Corporation (NYSE:SYK) was 10.82% and its shares lost 17.78% of their value over the last 52 weeks. Stryker Corporation (NYSE:SYK) has a market capitalization of $84.978 billion.
Diamond Hill Capital made the following comment about Stryker Corporation (NYSE:SYK) in its Q3 2022 investor letter:
“Stryker Corporation (NYSE:SYK) was the only new addition to the portfolio in Q3. It is one of the largest medical device manufacturers with a track record of consistently outgrowing its end markets and competitors. Stryker has a highly performance driven culture with a decentralized operating model that results in strong incentive alignment within the company. We believe the management team has executed well, making small but meaningful decisions that have positioned the firm well among competitors. Management operates with a market share gain mentality and strives to be a category leader in the market they are in. Stryker also benefits from its broad portfolio of surgical tools, small and large cap hospital equipment, waste management products, etc., which enables it to address all the needs of a hospital operating room and be a one-stop shop for health care facilities. This is particularly appealing to hospitals, and it positions Stryker to be the supplier of all operating room equipment versus a single product, thus enabling the company to gain market share.”
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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, 46 hedge fund portfolios held Stryker Corporation (NYSE:SYK) at the end of the second quarter which was 41 in the previous quarter.
We discussed Stryker Corporation (NYSE:SYK) in another article and shared best growth stocks to buy according to Ray Dalio. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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