Smith & Nephew (ADR)
Repairs, regenerates and replaces tissue through orthopaedics, sports medicine and wound care.
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Profile
Sells joint implants, sports-medicine and ENT tools, and advanced wound-care products through three global business units. Demand spans around 100 countries and depends on hospital procedure volumes, surgeon adoption, reimbursement systems, product innovation and regulated commercial practices.
Builds hip and knee reconstruction systems, trauma products and robotics-assisted surgery through Orthopaedics. Sports Medicine & ENT supplies instruments and repair technologies for soft tissue, while Advanced Wound Management includes dressings and negative-pressure therapy.
Operates through vertical global teams across around 100 countries, with demand and reimbursement conditions distributed beyond its UK base. Its wound-care roots reach back to 1856, while acquisitions helped build arthroscopy, orthopaedic robotics, regenerative repair and shoulder capabilities.
Execution centers on product innovation, procedure-enabling technology and continuous operating improvement across the three units. The business depends on hospital procedure volumes, surgeon adoption, reimbursement systems and regulated physician and distributor relationships.
Company facts
Categories
Key statistics
Year to date −11.8% · Average volume (30d) 1.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 6, 2026 | JP Morgan | Downgrade | Overweight | Neutral | ||
| Aug 5, 2026 | Barclays | Downgrade | Equal-Weight | Underweight | ||
| May 11, 2026 | Bernstein | Target | $37.50 | $31.85 | ||
| May 11, 2026 | Canaccord Genuity | Reiterate | Hold | $32 | $30 | |
| Apr 24, 2026 | Canaccord Genuity | Target | $36 | $32 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $0.94 | $0.95 | +0.7% | $1.64B | $3.10B | +88.9% | −1.02% |
| Mar 2, 2026Q4 FY25 | $1.16 | $1.18 | +1.7% | $2.77B | $3.20B | +15.5% | +2.77% |
| Aug 5, 2025Q2 FY25 | $0.86 | $0.67 | −21.7% | $1.51B | $2.99B | +98.0% | +0.06% |
| Feb 25, 2025Q4 FY24 | $0.92 | $0.23 | −75.5% | $1.52B | $2.98B | +96.0% | +2.88% |
Financial highlights
| 12 quarters | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.82B | $2.83B | $2.98B | $2.96B | $3.20B | $3.10B | |
| Gross profit | $2.00B | $1.97B | $2.11B | $2.09B | $2.12B | $2.20B | |
| Operating income | $150.0M | $328.0M | $329.0M | $429.0M | $365.0M | $448.0M | |
| Net income | $91.0M | $214.0M | $198.0M | $293.0M | $332.0M | $303.0M | |
| Diluted EPS | $0.21 | $0.50 | $0.46 | $0.68 | $0.76 | $0.70 | |
| Gross margin | 70.9% | 69.8% | 70.6% | 70.6% | 66.1% | 70.9% | |
| Operating margin | 5.3% | 11.6% | 11.0% | 14.5% | 11.4% | 14.5% |
Revenue by product · FY25
Balance sheet, Jun 27, 2026Cash & short-term investments $754.0M · Total debt $3.79B · Total assets $11.01B · Shareholders' equity $5.18B
Dividends
Raised for 6 straight years — most recently to $0.482 from $0.30 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Mar 27, 2026 | Mar 27 | May 27 | $0.482 | raised from $0.30 |
| Oct 3, 2025 | Oct 3 | Nov 7 | $0.30 | cut from $0.462 |
| Mar 28, 2025 | Mar 28 | May 28 | $0.462 | raised from $0.288 |
| Oct 4, 2024 | Oct 4 | Nov 8 | $0.288 | cut from $0.462 |
| Apr 1, 2024 | Apr 2 | May 22 | $0.462 | raised from $0.288 |
| Oct 5, 2023 | Oct 6 | Nov 1 | $0.288 | cut from $0.462 |
| Mar 30, 2023 | Mar 31 | May 17 | $0.462 | raised from $0.288 split-adjusted |
| Sep 29, 2022 | Sep 30 | Oct 26 | $0.278 | cut from $0.452 |
Ownership
Shares outstanding 419.93M · Float 419.49M · 99.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Cevian Capital II GP Limited | 119.18M | 14.18% | 13D | Jul 27, 2026 |
| River Road Asset Management, LLC | 3.22M | 0.77% | 13F | Jul 17, 2026 |
| Goldman Sachs Group Inc | 3.07M | 0.73% | 13F | Aug 14, 2026 |
| Brandes Investment Partners, LP | 2.15M | 0.51% | 13F | Aug 14, 2026 |
| Dimensional Fund Advisors LP | 1.84M | 0.44% | 13F | Aug 11, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Stryker
Broad rival in joint reconstruction, robotics, sports medicine, and ENT
- Zimmer Biomet
Direct rival in hip and knee implants, robotics, and sports medicine
- Johnson & Johnson
DePuy Synthes contests reconstruction, trauma, and sports medicine
- Solventum
Major wound-care rival in negative-pressure therapy and dressings
- CONMED
Focused rival in arthroscopy and sports-medicine soft-tissue repair
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Smith & Nephew (ADR) | $28.72 | −0.93% | $12.17B | 19.2 | — | 1.9 | +3.7% |
| Stryker | $334.18 | +1.06% | $126.77B | 34.3 | 20.6 | 4.9 | +9.4% |
| Zimmer Biomet | $100.91 | −0.00% | $19.52B | 24.6 | 11.5 | 2.3 | +4.8% |
| Johnson & Johnson | $268.40 | +0.13% | $645.95B | 31.1 | 22.4 | 6.6 | +6.6% |
| Solventum | $90.50 | −0.68% | $15.78B | 11.1 | 13.5 | 1.9 | +2.2% |
| CONMED | $49.53 | −1.06% | $1.50B | 27.0 | 11.2 | 1.1 | +0.3% |
| Median | 27.0 | 13.5 | 2.3 | +4.8% |