Stryker Still Rolling With The Punches

I believe there's a case to be made that Stryker (NYSE:SYK) is among the best-run med-tech companies in the last quarter-century, and maybe one of the best-run companies overall. Through multiple management transitions, numerous M&A transactions, and significant shifts in the med-tech landscape (in terms of technology, competition, reimbursement, etc.), this company has remained a surprisingly consistent grower and a good steward of capital. 

With that in mind, what's a fair price for this company? The shares dropped about 5% on the news of significant issues relating to Sage, but that decline has been almost fully recouped. The second-quarter results marked almost four straight years' worth of 5%+ organic growth and we're now talking about a new streak of close to 7% growth – for a company that is quite large already. I had actually hoped that the Sage news might open a wider window for more value anxious investors like me, but it's tough for me to get excited about buying the shares above the $130's.

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Stryker Still Rolling With The Punches