Stryker CorporationSYK Stryker Corporation fair value $225–$370

Stryker is a high-quality mature compounder with a durable moatMoatA durable structural advantage that protects long-term returns on capital from competition. Sources include network effects, switching costs, intangible assets, cost advantages, and efficient scale. derived from high switching costs, scale economies, and deep hospital relationships across MedSurg and Orthopaedics. The continued adoption of Mako robotics provides a strong catalyst for market share gains and implant pull-through.

• High switching costs in hospital
  High switching costs in hospital ecosystems
• Scale economies in MedSurg and
  Scale economies in MedSurg and Orthopaedics
• Cycle upside
  Accelerating hospital capital expenditures and aging demographics driving elective procedure volumes.