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Stryker needs to strike here! High time. Deepak time to sell up or leave. You will not survive another vote.
Let's see what progress has been made in the qtr 3 RNS on 2nd Nov before passing judgement
Nope, he has had a year. We want him out. His director dealings have not helped.
Mulder, he was only appointed effectively from 2022 and after a few months came up with a 2 year 12 point plan lasting two years from July 2022 to improve the Business. As I said, let's see how things are progressing against that turnaround plan before passing judgement
"In July 2022 we announced a comprehensive 12-point plan to drive better execution at pace, in order to take the business forward and deliver on our Strategy for Growth pillars to Strengthen and Accelerate. This plan is focused on:
路 Fixing Orthopaedics
路 Improving productivity
路 Accelerating growth in Advanced Wound Management and Sports Medicine & ENT
During the quarter we embedded the teams and structures to drive this work and established the internal KPIs to monitor progress and drive accountability.
While we expect the work to deliver the full plan to take two years, we are making meaningful early progress, including:
路 Improving logistics and updating our demand and supply planning process to bring a deeper level of specificity and collaboration between our operations and commercial teams;
路 Reducing the value of overdue orders in US Orthopaedics by more than 15% since the peak in the first half of the year; and
路 Moving Orthopaedics instrument sets to more active customer accounts, with 80% of the first phase completed in the US by quarter end.
Further work is proceeding across the 12-point plan, and we will continue to update on progress in future trading updates."
Whilst I agree that time needs to be given for a new plan to work, we are now over half way through the proposed programme and the price continues to fall. There will be City analysts who have for more insight into what is going on behind the scenes and I think the large sell off at the end of last month signifies further downward pressure on this share under the current leadership. I am a long term share holder and expressed my concerns to the Board very shortly after the appointment of the CEO. Lets see what happens, but I'm now expecting the price to fall significantly further. If a take over is on the horizon, then any uplift in the share price for an offer is not going to help as an offer of 30% over the current share price would only be circa 拢12.50/share. Would be interested to hear what other peoples views are on this matter and what they think a reasonable offer price for the share would be if there was a takeover bid.
Let's wait and see Plymouth. At the Half Year we were told "Strong H1 growth with FY revenue guidance raised, 12-Point Plan on track" and "2023 Full Year Outlook1,2
路 Increased full year underlying revenue growth guidance of 6.0% to 7.0% (previously 5.0% to 6.0%)"
路 Unchanged trading profit margin guidance, expected to be at least 17.5%" . So if things were materially different the market would have to be told
I don't see why the shares should fall 'significantly further'? Yes it is a weak market but we are entering a seasonally strong period. Rates have peaked and will be cut fairly soon. This was up around 拢19 pre Covid. Any takeover offer would have to be in that ball park. I see Soames appointment as a positive. The board shake up shows Deepak is under huge pressure. Have you contacted Investor Relations again recently?I don't care what his reasons were for the share sale shortly after appointment but it stunk and went down very badly with stakeholders. He seems out of his depth.
I haven't contacted Investor relations again at this point but my pen is poised.
There is something defiantly not right at the top and looking at Director Holdings I am sure many of them will be watching the reduction in their assets very closely and wondering where this is headed, as will many big shareholders. Of course, there is also always the consideration that the Market knows something else and the share price is being manipulated in readiness for that, but I don't think that ever happens and that's probably just a figment of my imagination :o)
Investorrelations.global@smith-nephew.com
Sadly with this back at 2014 levels it is yet another FTSE stock that has gone nowhere, IMO it's share price illegally suppressed by hedge funds who hammer UK listed stocks without always any good justifiable reason and then lo and behold an overseas predator, usually American, comes and picks them up on the cheap. Aviva today. Happens again and again. Stryker is in the same sector over in the States - it has seen its stock rise 65% in just 5 years.
Weak leadership imho. Just dreadful.
Thinking of exiting my position at a loss and recouping elsewhere (CPI).
GLA DYOR