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  "documentTitle": "Stryker Corp. (SYK)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2022-04-06 00:00:00",
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      "kind": "callout",
      "text": "It's no mystery that Wright Medical was struggling ahead of its purchase by Stryker. It was struggling with the Cartiva acquisition, having to terminate distributors, and reset investor expectations.(1) The Company even made changes to its estimate for excess and obsolete inventory in Q3 2019. We estimate inventory turnover fell in half leading up to the acquisition.",
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      "text": "We estimate inventory turnover fell in half leading up to the acquisition.",
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      "text": "Inventory Turnover: 0.53",
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      "text": "Source: Wright Medical filings, Spruce Point Analysis",
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      "text": "1) Wright Q2 2019 Conf Call",
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      "text": "Financial table showing Cost of Sales, Inventory, Inventory Turnover, and Free Cash Flow from 3/31/19 to 9/27/20.",
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      "text": "Wright Medical Inventory Turns Plummeted Prior To Stryker's Acquisition",
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