Smith & Nephew Share Price (SN.)

Share Name Share Symbol Market Type Share ISIN Share Description
Smith & Nephew LSE:SN. London Ordinary Share GB0009223206 ORD USD0.20
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -4.00p -0.30% 1,343.00p 1,342.00p 1,343.00p 1,354.00p 1,332.00p 1,340.00p 3,133,297 16:29:55
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services 3,781.0 860.0 71.3 19.5 11,752.82
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Smith & Nephew (SN.) Latest News

Smith & Nephew News

Date Time Source Headline
08/6/201716:11UKREGSmith & Nephew Plc Transaction in Own Shares
01/6/201713:59UKREGSmith & Nephew Plc Total Voting Rights
23/5/201716:22UKREGSmith & Nephew Plc Transaction in Own Shares
22/5/201717:39UKREGSmith & Nephew Plc Transaction in Own Shares
19/5/201717:18UKREGSmith & Nephew Plc Transaction in Own Shares
18/5/201717:25UKREGSmith & Nephew Plc Transaction in Own Shares
18/5/201714:29UKREGSmith & Nephew Plc Director/PDMR Shareholding
16/5/201708:00BWStudy results demonstrate 74% reduction in surgical site infections with..
15/5/201713:54UKREGSmith & Nephew Plc Transaction in Own Shares
12/5/201714:18UKREGSmith & Nephew Plc Director/PDMR Shareholding
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Date Time Title Posts
25/5/201710:06*** Smith and Nephew ***196
29/10/201508:48SN.122
10/1/201113:03Smith and Nephew 200867
09/1/201117:12Smiths: Charts and News etc.296
25/9/200615:09Smith&Nep. Why the rise?75

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Smith & Nephew (SN.) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2017-06-28 16:04:041,341.091,99626,768.24NT
2017-06-28 16:03:481,338.4111,866158,815.14NT
2017-06-28 16:02:001,343.1211,472154,082.42NT
2017-06-28 15:59:051,343.0055,213741,510.59NT
2017-06-28 15:58:041,340.236008,041.39NT
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Smith & Nephew (SN.) Top Chat Posts

DateSubject
28/6/2017
09:20		Smith & Nephew Daily Update: Smith & Nephew is listed in the Health Care Equipment & Services sector of the London Stock Exchange with ticker SN.. The last closing price for Smith & Nephew was 1,347p.
Smith & Nephew has a 4 week average price of 1,332p and a 12 week average price of 1,216p.
The 1 year high share price is 1,390p while the 1 year low share price is currently 1,065p.
There are currently 875,117,195 shares in issue and the average daily traded volume is 2,571,800 shares. The market capitalisation of Smith & Nephew is £11,752,823,928.85.
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26/11/2016
09:06		accipitridae: Get hip to Smith & Nephew's investment appeal, Goldman advises Share 10:36 25 Nov 2016 The hip and joint replacement specialist trades at a discount to sector peer Stryker Goldman Sachs has lowered its earnings estimates for Smith & Nephew PLC (LON:SN. but still rates the medical technology company’s shares a ‘buy’. The estimate changes follow the third quarter trading update earlier this morning and recent exchange rate movements, and see this year’s earnings per share (EPS) forecast decline 3%, while EPS estimates for the next three years have been shaved by 8%, reflecting weaker growth patterns in the third quarter. “While organic revenue growth this year has fallen short of our expectations (we now expect Smith & Nephew to deliver 1.9% organic revenue growth in 2016, down from the 5% that we had forecast at the beginning of 2016, with the slowdown driven largely by China and the Middle East), we continue to believe that SN.L will accelerate organic revenue growth into the 4%-5% range in 2017 and beyond, given its geographic and product mix (>50% of revenues is in higher-growth markets) and a number of upcoming product launches (Renasys Touch and Connect, Navio in total knee, revision hip, and WereWolf),” the heavyweight US investment bank said. The next catalyst for the share price is likely to be the appointment of a chief financial officer, expected before the end of the year. Goldman’s lowered its price target to 1,310p from 1,370p, on the assumption that Smith & Nephew will trade around 18 times projected EPS for 2018; it currently trades at 15.4 times 2018 EPS, whereas sector peer Stryker Corporation (NYSE:SYK) trades on an earnings multiple of 17.4, despite a comparable growth outlook. Goldman deems the disparity as unwarranted, and in fact suggests S&N should trade at a premium to Stryker, thanks to the possibility of being taken out by a competitor.
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10/8/2016
12:12		mikeindevon: Whichever way you look at it that 300m, 25p per share is 'lost' to the company ... it's not being used to grow the business, it's not being used to invest in new plant or projects it's being spent in an incestuous deal to buy back its own shares. Apart from a small, temporary fillip to the share price ... and yesterdays buy of £4m worth of shares produced zero addition of value ... it does nothing for us small shareholders. Rather it deprives us of 2% of yield. But it does increase the EPS by about the same amount ... by cancelling shares. So who does that benefit? It only benefits folk who hold few or no shares but gain from an increase in EPS ... and that smacks of bonus related management payments to me. As I say, call me a cynic ... but that's why I say buy backs are bad news to shareholders ... of course if I was particularly jaundiced I'd be thinking that maybe the brokers have a specific buyer that they buy the shares from ... but that would be a very different game and completely contrary to the free and open market principle. Mike
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01/4/2014
22:15		knighty0001: President of AWM Roger Teasdale is leaving the business at the end of the month. Has this been announced externally yet? Not sure what impact to share price this could have? If any at all.
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17/1/2011
09:03		losses: My stop loss kicked in last week when the share price plunged back to 669 after RNS declaration. Got back in This morning after further speculation.
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14/1/2011
23:02		harvester: This has been a bizarre sequence of events surrounding Sn. First came the news report by Sky concerning a bid approach by J&J last december, allegedly at 750 and rejected by the company. That led to wild bid speculation and rumours of renewed bid activity. That was not confirmed by the company which kept silent. The next day there were press reports that the FSA was investigating possible market manipulation surrounding Sn. and its shares. Hence the share price which had jumped by 80 on day 1 fell back by 50-60 . Then today the share price jumped up again above 700, possibly due to a finance page article in the Times(correction: D Telegraph) claiming current merger discussions with Biomet with exact financial details on how this can be financed and achieved. However, within hours the share price fell back again today, presumably in response to an RNS announcement by Sn. that they are not involved in merger or takeover talks contrary to press speculation . It looks like the FSA needs to dig a bit deeper and with some urgency to trace the rumour mongers and their attempts of market manipulation . Meanwhile long-term investors may see opportunities of profitable exit and re-entry at a lower price. Enjoy the ride .
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11/1/2011
16:34		jas_ron: well, the share price today has taken quite a dive. if a bid for 750p plus was placed and they are holding out for 900p. Buy some at 670p.
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11/1/2011
15:54		losses: Smith & Nephew is warned over Johnson & Johnson deal as shares hit new high By Simon Duke Last updated at 11:19 AM on 11th January 2011 Smith & Nephew was last night facing calls to come clean with shareholders after takeover rumours propelled shares in the British hip and knee replacement maker to an all-time high. In an apparent breach of Britain's takeover rules, S& N declined to shed any light on speculation that the FTSE 100 group had rebuffed a £7bn approach from US medical giant Johnson & Johnson last month. Weekend reports suggested that J&J, best known for its baby lotions and talcum powder, was considering raising its 750p-ashare bid sent S&N stock rocketing by as much as 13 per cent yesterday. Cash injection: The Mail reported a bid for S&N, but the firm hasn't disclosed takeover approaches Cash injection: The Mail reported a bid for S&N, but the firm hasn't disclosed takeover approaches It is the second time in a matter of weeks that the shares have risen sharply on the back of takeover rumours. Last month the Daily Mail reported that Hullbased S&N had received an 800pa-share takeover bid, triggering a near 10 per cent jump in its share price that day. Yet S&N (up 62p to 712.5p) has so far resisted the mounting pressure for complete transparency - despite Takeover Panel rules that require companies to keep investors informed of possible offers. Under the watchdog's Takeover Code, listed firms are obliged to disclose takeover approaches that leak into the public domain or cause an 'untoward' surge of more than 10 per cent in a company's share price. S&N's decision to maintain complete radio silence was met with incredulity by groups representing private investors. Eric Chalker of the UK Shareholder's Association said: 'It would seem to be strange behaviour on the part of the Board.' 'It must be questionable whether they're keeping the interests of all shareholders at the top of their agenda.' 'There will always be differences of opinion between investors- be they private, institutional or short term. 'This makes it all the more important that all shareholders have the same information to make their investment decisions.' It is understood that S&N has exploited a provision in the Takeover Code, which says that firms are not bound by the disclosure rules if they believe a spurned suitor won't return with a sweetened offer. One of S&N's top ten institutional investors told the Mail that S&N chairman John Buchanan was right not to disclose the putative bid from J&J. 'Having to disclose every speculative bid can be very disruptive both for staff and management,' the veteran fund manager said. 'Why should the Board have to put out this information under duress when they consider the price to be inadequate?' he asked. Analysts said J&J would have to table a firm offer of at least 900p a share to win over S&N investors. Read more: http://www.dailymail.co.uk/money/article-1345905/Smith-amp-Nephew-warned-Johnson-amp-Johnson-deal-shares-propelled-new-hight.html#ixzz1Ak6ctVpq
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10/1/2011
13:40		spob: from ft alphaville this am NH Hola NH and welcome to Markets Live NH one moment NH just finishing a phone call NH Bryce is here NH right I'm done with tthat NH just discussing the curious case of Smith & Nephew NH has there bid a bid or not BE Well, it's a shambles isn't it. NH yep BE Here's the relevant bit of the UK Takeover Code BE an announcement is required when, following an approach to the offeree company, the offeree company is the subject of rumour and speculation or there is an untoward movement in its share price. NH well we had that before Xmas NH shares up 9% following a rumour in the Daily Mail NH and up 11% today NH after a report on Sky News of a bid approach from J&J NH and still NH no statement BE In case anyone wants to know what an untoward movement is, it's this BE a price movement of 10% or more above the lowest share price since the time of the approach. An abrupt rise of a smaller percentage (for example, a rise of 5% in the course of a single day) could also be regarded as untoward BE So. Smith And Nephew Plc (SN.:LSE): Last: 723.00, up 73 (+11.23%), High: 739.00, Low: 715.00, Volume: 8.46m NH hmmm NH of course the story could be false NH in which case NH surely the Panel or the FSA NH need to come up with a mechanism to clear this sort of thing up NH there's a false market in the shares at the moment NH so someone should be forced to say either NH this story is rubbish NH or it's true NH and then if needed provide context NH ie it's stale and they won't be coming back NH making a mockery of the whole system BE I'm increasingly of the opinion that the UK market should trade at a discount to others. BE Because the regualtion's obviously faulty. BE It fails. BE We should just leave the UK to the Tilt guys, to cover along with Sudan and Kazakhstan. NH NH well resource stocks now account for a third of the FTSE 100 NH why not NH (pakora – but this time there is a very detailed story from a reporter with a serious track record. this is isn't flakey market report chat) BE (DLC: Yes, I think the takeover regulation is far superior in Australia, Canada and South Africa, to name but three.) NH anyway one interesting aside NH the advisers to S&N NH are the same as De La Rue NH JP Morgan financial advisers (along with UBS) BE Hm. NH and Brunswick do the PR NH in fact it is the same team at De La Rue NH obviously correlation does not equal cause NH but funny nonetheless BE A coincidence, certainly. BE However, we shall return to this theme later. NH yes NH I'm sceptical J&J could bid BE But for the moment, let's take a deep breah and look at the wider market shall we? . . . . . BE Back to Smith & Nephew I guess. BE So, since there's no statement, the assumption is that J&J has not stuck in a formal bid. NH hmmm NH been looking at this NH and there are big hurdles NH anti trust is meaningful NH to such a degree that any of the synergies from buying S&N NH might have to be divested NH that said NH there would be other cost savings NH putting S&N products through the J&J machine NH that would save loads NH but NH J&J are being asked to pay a rich price for something NH they might have to end up selling large chunks of BE That's all true. NH I have some facts and figures on the competition angle via merrill lynch NH any potential deal would face difficult regulatory hurdles in our view, with potential concerns over the companies' combined market share in the US, Germany and the UK. We estimate that Smith & Nephew has a c12% global market share in both hip and knee joint reconstruction markets, and that a combined Smith & Nephew JNJ DePuy would have a 35-36% global market share in hips and knees. In arthroscopy, we estimate SNN has a 24% global market share and that a combined Smith & Nephew JNJ Mitek would have a global market share of about 39%. NH and some valuation work NH We note that Smith & Nephew's 90 day average price is 596p. A 20-30% premium to its recent trading range, in line with similar medical device deals in recent years, would imply an acquisition price of 715-775p. A price of 800p would imply a 2010E sales multiple of 3.0x and 9.6x 2010E EBITDA (Equity/EBITDA: 9.2x). At 750p, a potential offer would imply 2.8x 2010E sales and 9.0x 2010E EBITDA. We would note that an offer of 800p would imply a market cap of $11.1bn. At 3Q10, JNJ had net cash of $10.1bn. We note that private equity acquired Biomet in 2007 for 5.4x trailing 12 months sales and Smith & Nephew itself paid 3.0x for European peer Plus Orthopaedics (also 2007). Zimmer paid 4.4x for Centerpulse in 2003 BE Hm BE It's an interesting theory after so many rumours about an S&N/Biomet merger though. BE I guess S&N+Biomet would be an easier sell for the antitrust authorities NH much easier NH I still maintain S&N have been looking at this BE And a tougher competitor for J&J. NH although the odds of confimation on that NH ZERO NH anyway NH a bit more comment on this NH then we should move on NH this comes from OliveTree Securities NH Worth noting that there would be significant anti-trust hurdles for JNJ to acquire S&N, there are significant overlaps in areas such as knee and hip implants. Given how expensive any S&N deal would be, a transaction would likely be reliant on synergies to make the mathematics work – with sizable disposals it is likely these benefits are eroded significantly. It should be remembered though that there are material central cost synergies to potentially takeout of S&N, reducing the central admin costs would be easy for a player such as JNJ. Whereas we think it is indeed likely that something is afoot regarding S&N, the path to completion is a complicated one, and the shareprice should reflect this. We also wonder why we have not yet seen clarification from either party NH Smith & Nephew has been a perennially rumoured bid target for a number of years- although the list of potential acquirers is relatively small. The specialists in the space (Zimmer, Stryker) could not do a deal from an anti-trust perspective, so it would be reliant on a mode diversified player choosing to bulk up in this area. JNJ is already a serious player though – it would again remain to be seen what level of divestments would be acceptable to make the maths work. JNJ, Stryker and Zimmer are all market leaders in at least one specific field in which S&N operates – all three would see material divestments, although it could be argued that as part of a larger diversified player, JNJ could stomach these better. NH you will note there NH That Zimmer and Stryker would also have competition issues NH there really aren't that many bidders around for this NH and S&N's recent performance hasn't been great NH When a group of Private-Equity players (Blackstone, GS, KKR, TPG) bought Biomet in 2006, it paid 23x consensus PE and c15x EV/EBITDA, still some 50% premium to the implied S&N valuation. Of course this was done in a bull market environment though, and the private equity groups were forced to outbid S&N itself for the asset. Note also that the reconstructive orthopaedic markets have been declining since this time too – it is highly unlikely any multiple today would get close to these prices. Ever since this point, there has been talk that these Private Equity groups would look to acquire S&N to put the businesses together again as previously planned. Indeed, this was the rumour in the market pre-Christmas, but work we did shows that Biomet is still far too levered to be able to afford any bid for S&N, a deal structured in this fashion is highly unlikely. Given that S&N failed to acquire both Biomet and Centerpulse (sold to Zimmer), the company has been left as a "sub-scale" sitting-duck, and it has been perceived that it is now a clear target rather than acquirer going forward. NH Conclusions here is that bid rumours for S&N come as no surprise, and the sheer level of talk of this stock in the market over Christmas make it seem likely something is indeed at foot – but the transaction is complicated from an anti-trust perspective. JNJ will get asked to pay a top-end price for this asset, despite the potentially destructive nature of the divestments necessary, and it is going to be hard to see how interlopers such as Biomet, Zimmer and Stryker could also become involved. NH Right NH i'm done on this topic NH (value – we and others have talked to IR before and they told us there was no bid approach. we thus discount heavily anything they say) NH in fact value NH here's what they told one broker NH back in December NH when the bid rumours were about NH they say the rumour of a bid comes round every four months, usually following a move higher in the share price. IR has an article from 1996 from the Times talking about a bid for the company which shows how long these rumours have been circulating. No real comment on what are the attractions of the S&N business to rivals but did say that back in around 2000 US peers were trading on relatively higher multiples than S&N which caused some to speculate they could bid for S&N. Does not really think consolidation is needed in the sector as it is quite highly concentrated – 5 players in hips and knees have 85% of mkt, 3 players in trauma with 75% and 4 players in endoscopy with 70%. S&N's own focus on expansion is on new tech and distribution. NH I guess NH we will never know what has really gone on NH but the whole situation is unsatisfactory BE As I say. Total failure of UK regulation and disclosure rules. NH agreed . . . . BE Ok – Neil's on the phone. BE S&N related. BE So we'll just hold on a minute for that to conclude before signing off. BE Just in case there's any fresh information to share. BE Sounds like guidance .... BE Still talking. NH back NH just going over Panel rules NH so the situation as things stand NH I believe NH is that if S&N aren't in talks NH they don't have to say anything NH however NH if J&J are considering something NH they have to make a statement NH but NH I still think NH this situation needs to be cleared up NH and the board of S&N surely has a duty to do that NH I surging share price NH and loads of bid rumours doesn't help anyone NH the market NH staff NH customers NH and what's the harm in saying NH yes we did get an approach NH and we knocked it back NH and the bidder has gone away NH can that really hurt BE I guess the problem is that, if they say they had an approach .... BE They open up accusations of sitting on price sensitive information when they were up 12% or so in early December. NH true NH they should have said something then BE There's a bit of a "damned if you do and damned if you don't" logic to it. BE Because, to be frank, they're damned. BE Someone made a very significant mistake. BE Anyway, that's all old ground.
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10/1/2011
01:53		spob: S&N risks investor anger over takeover offer By Miles Johnson in London and Helen Thomas in New York FT 9 Jan 2011 Smith & Nephew has risked criticism from its investors after rejecting a £7bn takeover offer without making the information public, becoming the second large UK company to do so in recent months. Johnson & Johnson, the US healthcare group, approached Smith & Nephew late last year but its offer was knocked back by the hip-and-knee replacement manufacturer's board as too low. The offer, which people close to the FTSE 100 company believe to be priced at about 750p-800p a share, came at a similar time to when sustained takeover speculation pushed Smith & Nephew shares up by 14 per cent over December. They closed at 650p last week. It is not clear whether Johnson & Johnson would return with improved terms at a later date, these people said. Smith & Nephew has been a perennial target for takeover talk over the past decade owing to its position as one of the smaller players in the medical devices market, a maturing industry where global players are at an advantage. The UK's takeover watchdog can force a group to confirm a takeover approach if speculation has an unusual effect on its share price. The company could now be forced to make a statement to the market as early as Monday. Smith & Nephew on Sunday said it was against company policy to comment on "market speculation". "We are aware of our obligations, and the board is entirely focused on the creation of shareholder value," it said. Johnson & Johnson declined to comment. News of the approach comes after the banknote printer De La Rue was criticised by some of its shareholders for failing to disclose an approach from France's Oberthur Technologies. The distraction to day-to-day business caused by takeover approaches means companies can be reluctant to inform their investors when they reject an offer. One UK institutional investor said: "Management teams sometimes have a vested interest in keeping approaches secret. I think a company's shareholders should be allowed to make their own decision." While Johnson & Johnson was one logical buyer of Smith & Nephew, industry bankers said the company would be likely to attract more interest. A combination with Biomet, the Indiana-based producer of replacement hips, knees and shoulders which was taken private in 2006 by Blackstone, Goldman Sachs, KKR and TPG, is a possibility.
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09/1/2011
11:10		cool runnings: Smith & Nephew, the FTSE 100 manufacturer of hip and knee replacements, has received a £7bn takeover approach from Johnson & Johnson, its US-based rival, I can reveal. An indicative offer valuing Smith & Nephew (S&N), one of the world's largest orthopaedics-makers, at more than 750p-a-share was tabled with the company several weeks before Christmas, I'm told. The approach from Johnson & Johnson (J&J) was discussed by board members at S&N before being rejected on the basis that it substantially undervalued the company. I understand that the American company has been evaluating whether to return with a higher offer although there's no certainty that it will do so. News of the approach raises once again the prospect of a major British company being swallowed by an overseas rival. That would no doubt attract political attention, particularly from Vince Cable, the Business Secretary, who has commissioned a review of issues such as the efficacy of Britain's laissez-faire takeover regime in the wake of Cadbury's sale to Kraft Foods. S&N is a world leader in its field and specialises in advanced wound-care products such as dressings and gels, endoscopy and other medical devices, as well as its orthopaedics business. S&N's shares have been inflated by persistent takeover speculation in recent months, and shot up by 9 per cent during one trading session alone in early December. Yesterday, however, the shares slipped 1.9 per cent to close at 650p after S&N's privately-owned rival, Biomet, reported that sales growth had slowed and that pricing had become tougher for the hip and knee implants it sells. At yesterday's closing price, S&N is valued at £5.74bn. Biomet, which is owned by a quartet of investment firms including the private equity arm of Goldman Sachs, has also been touted as a likely bidder for S&N. It's possible (perhaps even likely) that if J&J does return with a higher offer, that it would be tempted to enter the fray, although it would face significant financing constraints. Other competitors such as Stryker and Zimmer may also be interested in a bid. My disclosure that S&N did in fact receive a takeover approach before Christmas is likely to raise the issue of why it was not disclosed to the stock market despite such protracted speculation. S&N and its advisers would probably argue that since much of that speculation centred on the wrong bidder (Biomet rather than J&J), there was no need to confirm the approach in a public statement. It's not hard to understand why boards prefer not to confirm takeover offers that they have already turned down. A prolonged period of having to publicly fend off suitors causes uncertainty for employees and distracts management from concentrating on running their company. Nonetheless, investors may look at a similar situation at De La Rue, the banknote printer, and feel aggrieved that they are not being given the appropriate opportunities to consider takeover approaches for the companies they own. I suspect that S&N will only issue a public statement confirming the approach from J&J if its share price moves materially on Monday morning. That said, there aren't too many other similarities between S&N and De La Rue. The orthopaedics-maker is performing well under David Illingworth, its chief executive, whereas the banknote printer is going through a period of turmoil and facing the loss of its largest customer. Indeed, S&N beat analysts' expectations at its third-quarter results in November as a result of improved sales of its trauma therapy and wound-care products. The company also cheered the City by promising to increase its investment in growth markets such as China and India. S&N declined to comment today on the takeover approach, while J&J could not be reached for comment.
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