Health care stocks have been beaten up, but Smead Capital Management believes investors are missing a buying opportunity, CEO Bill Smead said Monday.
Amid what's been a tough year for the sector, S&P 500 health care stocks are down nearly 7 percent year to date, lagging behind all other sectors. Smead, however, said he's still a believer.
"We're large cap value people. We want to buy meritorious, wonderful companies when everybody else hates them, and I certainly say they hate health care right now," Smead told CNBC's "Squawk on the Street."