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Smith & Nephew plc (SNN)

  • May 28, 2014, 9:13 AM
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  • May 1, 2014, 4:00 AM
    • Smith & Nephew's (SNN) Q1 adjusted EPS of 17.7 cents misses by 0.05 cents.
    • Revenue of $1.07B (+1% Y/Y) misses by $0.02B.
    • The surgical device company's underlying trading profit drops 5% to $229M and slightly misses consensus of $231M, hurt by investment in products and slower revenue growth.
    • However, Smith & Nephew remains confident in its 2014 outlook as it launches new products and the contribution of acquisitions increases.
    • Shares are -0.2% in London. (PR)
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  • Mar. 10, 2014, 9:49 AM
    • OrthoSensor announces that Smith & Nephew (SNN) will market its Verasense Sensor Assisted Surgery Technology to assist orthopedic surgeons when implanting SNN's Journey and Legion brands of Total Knee Systems.
    • The system enables evidence-based surgical decisions and delivers improved patient outcomes.
    • SNN shares are up 9% year to date.
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  • Feb. 6, 2014, 4:51 AM
    • Smith & Nephew (SNN) Q4 underlying trading profit climbed 8% to $292M, just about topping consensus of $287M.
    • Adjusted EPS 23.4 cents vs forecasts of 22.1 cents.
    • Revenue increased to $1.2B from $1.1B and vs expectations of $1.16B.
    • Pretax profit rose to $232M from $213M a year earlier
    • Revenue increased to $1.2B from $1.1B
    • Smith & Nephew CEO Olivier Bohuon said the company's Orthopaedic Reconstruction business "confirmed its improved dynamic, in particular delivering 11% growth in U.S. knees." Bohuon expects the business to continue its recent improved performance.
    • Smith & Nephew's advanced wound management operations strongly outperformed its segment.
    • The company expects the U.S. market to continue showing improvement in 2014, Europe to be challenging, and emerging markets to offer growth opportunities.
    • Smith & Nephew declared a final dividend of $0.17 a share, bringing the distribution for 2013 to $0.274. Shares +1.9% in London. (PR)
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  • Feb. 3, 2014, 2:25 AM
    • Smith & Nephew (SNN) has agreed to acquire ArthroCare (ARTC) for $1.7B in a move that Smith & Nephew says will strengthen its global sports medicine business.
    • Smith & Nephew is offering $48.25 a share, 6.3% above ArthroCare's closing price of $45.38 on Friday. (PR)
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  • Feb. 7, 2013, 5:02 AM
    Smith & Nephew (SNN): Q4 EPS of 21.6 cent beats by 0.5 cents. Revenues of $1.11B (-2.7% Y/Y) beat by $10M. Declares final dividend of 16.2 cents/share, bringing the total for 2012 to 26.1 cents/share. Shares +0.35% in London. (PR)
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  • Jan. 17, 2013, 7:44 PM
    The FDA is concerned whether several medical devices already on the market, such as electroconvulsive therapy devices for depression and emergency defibrillators, require additional evidence to prove they're safe. It's issued a safety advisory, saying patients with symptoms suggesting their devices aren't functioning properly should be considered for testing of possible metal ions in their bloodstream. Symptoms include: skin rashes, neurological changes such as hearing and vision impairment, and psychological status changes including depression.
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  • Nov. 28, 2012, 8:07 AM
    Smith & Nephew (SNN) agrees to acquire Healthpoint Biotherapeutics for $782M, allowing the British medical products manufacturer to expand into the wound therapy sector. SNN expects the acquisition to exceed its cost of capital in the third full year following acquisition, to be broadly EPSA neutral in 2013 and accretive thereafter.
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  • Jun. 1, 2012, 10:54 AM
    U.K. medical device maker Smith & Nephew (SNN -3.2%) slips after saying it's withdrawing the optional metal liner component used in its hip implants, saying it isn't satisfied with clinical results. Approximately 7,700 metal liners have been implanted since the component was introduced in 2007, the majority of which have been used in stemmed total hip replacements.
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  • May 3, 2012, 3:27 AM
    Smith & Nephew (SNN): Q1 trading profit of $252M vs. $241M in the year-earlier period. Excluding restructuring and acquisition costs, EPS of $0.195/share, in-line. Knee replacements and wound care helped drive the profit growth. Revenue rose to $1.08B from $1.06B, in-line with estimates.
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  • Feb. 6, 2012, 12:02 PM
    The SEC slaps a $22M fine on Smith & Nephew (SNN +0.2%) for allegedly violating the Foreign Corrupt Practices Act with bribes paid to Greek doctors to win business. The complaint filed in federal court (.pdf) says that the company kept a slush fund to make the payments.
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  • Jan. 4, 2012, 2:48 AM
    Smith & Nephew (SNN) will spin off its biologics business into a new joint venture that will be majority owned by healthcare investor Essex Woodlands. Smith & Nephew will receive ~$98M in exchange, which will be used to pay down debt, and a $160M five-year note from the new JV.
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  • Mar. 17, 2011, 9:10 AM
    Premarket gainers: CTIC +11%. SNE +8%. CIGX +7%. KYO +6%. SI +6%. GPL +5%. CPST +5%. FDX +5%. PC +5%. STD +5%. RDS +4%. VOD +4%. RIO +4%. TEF +4%. ARMH +4%. CREE +4%. SNN +4%. TOT +4%. ABB +4%. BBVA +4%. VE +4%. MT +4%. UPS +4%. NOK +3%. ALU +4%. HERO +3%. URRE +3%. CLF +3%. LVLT +3%. BHP +3%. STO +3%. MGM +3%.
    Losers: GMR -30%. GES -7%. KWK -6%. HSOL -6%. NRP -6%. SNBC -5%. LULU -4%. PHI -4%. THQI -3%.
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  • Feb. 2, 2011, 2:50 PM
    Smith & Nephew (SNN +1.1%), Europe's largest maker of knee and hip replacement products, gained 16% when speculation began that Johnson & Johnson (JNJ +0.2%) was looking at a potential takeover of the company. Bloomberg calculates that it's still worth an additional 60%, or $15.6B, in an acquisition.
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  • Jan. 18, 2011, 9:00 AM
    Premarket gainers: ARIA +33%. SBIB +19%. HEV +10%. CXDC +9%. VOD +5%. TGB +4%. ERJ +4%. ASTM +4%. SNN +4%.
    Losers: CMA -6%. AAPL -5%. AVGO -5%. C -5%. WLOCD -4%. GSK -4%.
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  • Jan. 16, 2011, 12:56 PM
    J&J (JNJ) is reportedly considering a new takeover approach for Smith & Nephew (SNN), which denies it's in deal talks. The Sunday Times says a bid would be worth at least 800 pence, valuing the company at more than £7B ($11B), up from a 750p/share bid reportedly rejected last year.
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Company Description
Smith & Nephew PLC develops, manufactures, markets and sells medical devices in the sectors of Advanced Surgical Devices and Advanced Wound Management.