Nomura Value Fund on Stryker Corporation
Thesis
The fund initiated Stryker after a March 2026 cybersecurity incident triggered a selloff in the shares. The team viewed the decline as an opportunity to acquire a high-quality medical technology business at a discounted valuation. The pitch rests on the view that the operational disruption created a temporary valuation dislocation rather than a deterioration in the company's underlying quality.
“Disruption from a cybersecurity incident in March 2026 caused a selloff in Stryker’s shares, creating an opportunity to purchase a high-quality medical technology company at a discounted valuation.”
Key risks
- Operational disruption from the cybersecurity incident