UBS’ Top Tech Based Disruptive Stocks For 2030: Top 29 Stocks

16. Stryker Corp (NYSE:SYK)

Number of Hedge Fund Holders In Q2 2024: 53

Stryker Corp (NYSE:SYK) is one of the biggest medical device companies in the world. It is one of the few global companies capable of manufacturing surgical robots. These are among the hottest growing categories in the medical devices market. Stryker Corp (NYSE:SYK)’s Mako and Triathlon products for joint surgery are fast growing and have completed more than one million surgeries. The firm is also aggressively innovating as it launched the Pangea platform to help doctors place plates at bone fracture locations. Along with Pangea, Stryker Corp (NYSE:SYK) also launched its defibrillator during the second. This allows the firm to generate sizeable catalysts for itself in the future through high revenue growth. It also means that the threats of competitors announcing similar or better platforms are lower due to the latest technologies being implemented in these devices. Despite the fact that higher rates and inflation typically constrain spending on expensive medical devices, Stryker Corp (NYSE:SYK)’s shares have gained 21.5% year to date. Other catalysts include use case expansion for existing products, but it is possible that growth from the new products has already been priced into the stock.

Stryker Corp (NYSE:SYK) is also integrating AI into its products. Here’s what the firm shared during the Q2 2024 earnings call:

“Lastly, we announced this morning that we received FDA clearance for our Spine Guidance 5 Software featuring Copilot, which introduces smart powered instruments to our Q guidance ecosystem. This innovative technology is designed to support surgeon precision by providing auditory and sensory alerts when approaching anatomical boundaries during spinal procedures and enhanced patient safety and outcomes. Copilot is an important step on our development pipeline which also includes Mako Spine. Mako Spine with Copilot is on track to launch in Q4 and Mako’s Shoulder is on track to launch at the end of the year.”