Bell Global Equities Fund initiated a new position in Stryker Corporation during May 2026, citing the medical technology company's quality characteristics and an attractive entry point after a share-price decline. The fund highlighted Stryker's best-in-class management, decentralized operating model delivering organic revenue growth ahead of large-cap medtech peers, and durable competitive advantages anchored by the Mako robotics platform. The opportunity arose from a broader medtech de-rating and stock-specific weakness following a March cyberattack that temporarily disrupted operations, with shares falling to 52-week lows after the first-quarter result quantified the impact. Bell Global Equities Fund views the disruption as transitory, noting that underlying procedure volumes held steady, the order book remains elevated, and management maintained full-year organic sales growth guidance of 8 to 9.5 percent, with most delayed sales expected to be recouped over the remainder of 2026. The forward price-to-earnings multiple compressed to approximately 19 times from the 25 to 30 times range a year earlier, which the fund saw as a meaningful discount to history and relative to Stryker's quality and growth characteristics.
Stryker CorporationFund initiated position citing attractive valuation after share-price decline and quality characteristics.