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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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  "notes": "The slide uses a red flag callout to emphasize the negative nature of the acquisitions.",
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      "text": "Stryker's recent acquisitions have come at steep multiples for challenged businesses. We warned about TSO3's product challenges in a critical report and observe that Stryker didn't even announce to its shareholders it was buying the company. Rather, the announcement came from TSO3.",
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      "text": "Source: Company and Stryker SEC Filings and Spruce Point analysis. 1) Sales and estimates from J.P. Morgan equity report, Sept 4, 2019",
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