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  "documentTitle": "Stryker Corp. (SYK)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "presentationDate": "2022-04-06 00:00:00",
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  "notes": "The slide uses red blocks to visually represent the 'No Longer Disclosed' data points, emphasizing the lack of transparency.",
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      "kind": "callout",
      "text": "Two discrete periods of plateauing growth, one of which we caught the IR claiming was due to seasonality despite prior periods showing no such effect",
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      "text": "Please note that going forward we will no longer be providing quarterly Mako results...",
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      "text": "Please note that going forward we will no longer be providing quarterly Mako results. Since acquiring the company in early 2014, we have provided detailed Mako data for 23 consecutive quarters in order to allow investors to accurately track the performance of this differentiated robotic technology. As we are now six years since the acquisition and nearly five years since the initial launch of the total knee indication, we believe we have validated a strategic rationale and competitive advantage of Mako as witnessed by the roughly 600 basis points of U.S. knee market share that we have gained since 2013. — 2019 Conf Call",
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      "text": "Source: Stryker conference calls and Spruce Point analysis",
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      "text": "Quarterly Mako Disclosures table showing installed units, quarterly sales, and procedure metrics.",
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      "text": "Less And Less Disclosures Up Until Ceasing All Quarterly Disclosures",
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