Intrinsic value of Smith&Nephew ADR - SNN

Previous Close

$36.60

  Intrinsic Value

$240.36

stock screener

  Rating & Target

str. buy

+557%

Previous close

$36.60

 
Intrinsic value

$240.36

 
Up/down potential

+557%

 
Rating

str. buy

We calculate the intrinsic value of SNN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.10
  2.39
  2.65
  2.89
  3.10
  3.29
  3.46
  3.61
  3.75
  3.88
  3.99
  4.09
  4.18
  4.26
  4.34
  4.40
  4.46
  4.52
  4.56
  4.61
  4.65
  4.68
  4.71
  4.74
  4.77
  4.79
  4.81
  4.83
  4.85
  4.86
Revenue, $m
  4,865
  4,981
  5,113
  5,261
  5,424
  5,602
  5,796
  6,005
  6,231
  6,472
  6,730
  7,006
  7,299
  7,610
  7,940
  8,289
  8,659
  9,050
  9,463
  9,900
  10,360
  10,845
  11,356
  11,895
  12,462
  13,059
  13,687
  14,349
  15,044
  15,776
Variable operating expenses, $m
  4,025
  4,113
  4,212
  4,322
  4,445
  4,578
  4,724
  4,881
  5,050
  5,231
  5,051
  5,258
  5,477
  5,711
  5,959
  6,221
  6,498
  6,792
  7,102
  7,429
  7,775
  8,139
  8,522
  8,926
  9,352
  9,800
  10,272
  10,768
  11,290
  11,839
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  4,025
  4,113
  4,212
  4,322
  4,445
  4,578
  4,724
  4,881
  5,050
  5,231
  5,051
  5,258
  5,477
  5,711
  5,959
  6,221
  6,498
  6,792
  7,102
  7,429
  7,775
  8,139
  8,522
  8,926
  9,352
  9,800
  10,272
  10,768
  11,290
  11,839
Operating income, $m
  840
  869
  902
  939
  979
  1,024
  1,072
  1,124
  1,181
  1,241
  1,679
  1,748
  1,821
  1,899
  1,981
  2,068
  2,161
  2,258
  2,361
  2,470
  2,585
  2,706
  2,834
  2,968
  3,110
  3,259
  3,415
  3,580
  3,754
  3,937
EBITDA, $m
  1,491
  1,527
  1,567
  1,612
  1,662
  1,717
  1,776
  1,841
  1,910
  1,984
  2,063
  2,147
  2,237
  2,332
  2,433
  2,541
  2,654
  2,774
  2,900
  3,034
  3,175
  3,324
  3,480
  3,645
  3,819
  4,002
  4,195
  4,398
  4,611
  4,835
Interest expense (income), $m
  48
  78
  82
  86
  91
  97
  102
  109
  116
  124
  132
  141
  150
  160
  171
  182
  194
  207
  221
  235
  250
  266
  283
  301
  319
  339
  360
  381
  404
  429
  454
Earnings before tax, $m
  761
  787
  815
  847
  883
  921
  963
  1,008
  1,057
  1,109
  1,539
  1,598
  1,661
  1,728
  1,799
  1,874
  1,954
  2,038
  2,126
  2,220
  2,319
  2,423
  2,533
  2,649
  2,771
  2,899
  3,034
  3,176
  3,325
  3,483
Tax expense, $m
  206
  212
  220
  229
  238
  249
  260
  272
  285
  299
  415
  431
  448
  467
  486
  506
  527
  550
  574
  599
  626
  654
  684
  715
  748
  783
  819
  858
  898
  940
Net income, $m
  556
  574
  595
  619
  644
  673
  703
  736
  771
  809
  1,123
  1,166
  1,213
  1,261
  1,313
  1,368
  1,426
  1,487
  1,552
  1,621
  1,693
  1,769
  1,849
  1,934
  2,023
  2,116
  2,215
  2,319
  2,428
  2,542

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  8,028
  8,220
  8,438
  8,681
  8,950
  9,245
  9,564
  9,910
  10,282
  10,680
  11,106
  11,561
  12,044
  12,557
  13,102
  13,679
  14,289
  14,934
  15,616
  16,336
  17,095
  17,896
  18,739
  19,628
  20,564
  21,549
  22,586
  23,678
  24,826
  26,033
Adjusted assets (=assets-cash), $m
  8,028
  8,220
  8,438
  8,681
  8,950
  9,245
  9,564
  9,910
  10,282
  10,680
  11,106
  11,561
  12,044
  12,557
  13,102
  13,679
  14,289
  14,934
  15,616
  16,336
  17,095
  17,896
  18,739
  19,628
  20,564
  21,549
  22,586
  23,678
  24,826
  26,033
Revenue / Adjusted assets
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
  0.606
Average production assets, $m
  2,909
  2,979
  3,058
  3,146
  3,243
  3,350
  3,466
  3,591
  3,726
  3,870
  4,025
  4,189
  4,365
  4,551
  4,748
  4,957
  5,178
  5,412
  5,659
  5,920
  6,195
  6,485
  6,791
  7,113
  7,452
  7,809
  8,185
  8,581
  8,997
  9,434
Working capital, $m
  1,270
  1,300
  1,335
  1,373
  1,416
  1,462
  1,513
  1,567
  1,626
  1,689
  1,757
  1,828
  1,905
  1,986
  2,072
  2,164
  2,260
  2,362
  2,470
  2,584
  2,704
  2,830
  2,964
  3,104
  3,253
  3,408
  3,572
  3,745
  3,927
  4,118
Total debt, $m
  1,520
  1,598
  1,688
  1,787
  1,898
  2,018
  2,149
  2,291
  2,443
  2,607
  2,782
  2,968
  3,166
  3,376
  3,600
  3,836
  4,087
  4,351
  4,631
  4,926
  5,237
  5,565
  5,911
  6,275
  6,659
  7,063
  7,488
  7,936
  8,407
  8,902
Total liabilities, $m
  3,292
  3,370
  3,460
  3,559
  3,670
  3,790
  3,921
  4,063
  4,215
  4,379
  4,554
  4,740
  4,938
  5,148
  5,372
  5,608
  5,859
  6,123
  6,403
  6,698
  7,009
  7,337
  7,683
  8,047
  8,431
  8,835
  9,260
  9,708
  10,179
  10,674
Total equity, $m
  4,737
  4,850
  4,978
  5,122
  5,281
  5,454
  5,643
  5,847
  6,066
  6,301
  6,553
  6,821
  7,106
  7,409
  7,730
  8,070
  8,431
  8,811
  9,214
  9,638
  10,086
  10,558
  11,056
  11,581
  12,133
  12,714
  13,326
  13,970
  14,647
  15,359
Total liabilities and equity, $m
  8,029
  8,220
  8,438
  8,681
  8,951
  9,244
  9,564
  9,910
  10,281
  10,680
  11,107
  11,561
  12,044
  12,557
  13,102
  13,678
  14,290
  14,934
  15,617
  16,336
  17,095
  17,895
  18,739
  19,628
  20,564
  21,549
  22,586
  23,678
  24,826
  26,033
Debt-to-equity ratio
  0.320
  0.330
  0.340
  0.350
  0.360
  0.370
  0.380
  0.390
  0.400
  0.410
  0.420
  0.440
  0.450
  0.460
  0.470
  0.480
  0.480
  0.490
  0.500
  0.510
  0.520
  0.530
  0.530
  0.540
  0.550
  0.560
  0.560
  0.570
  0.570
  0.580
Adjusted equity ratio
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  556
  574
  595
  619
  644
  673
  703
  736
  771
  809
  1,123
  1,166
  1,213
  1,261
  1,313
  1,368
  1,426
  1,487
  1,552
  1,621
  1,693
  1,769
  1,849
  1,934
  2,023
  2,116
  2,215
  2,319
  2,428
  2,542
Depreciation, amort., depletion, $m
  651
  658
  665
  674
  683
  693
  704
  716
  729
  743
  383
  399
  416
  433
  452
  472
  493
  515
  539
  564
  590
  618
  647
  677
  710
  744
  780
  817
  857
  898
Funds from operations, $m
  1,207
  1,232
  1,261
  1,292
  1,327
  1,366
  1,407
  1,452
  1,501
  1,552
  1,507
  1,565
  1,628
  1,695
  1,765
  1,840
  1,919
  2,003
  2,091
  2,185
  2,283
  2,387
  2,496
  2,611
  2,732
  2,860
  2,994
  3,136
  3,284
  3,441
Change in working capital, $m
  26
  30
  34
  39
  43
  47
  51
  55
  59
  63
  67
  72
  76
  81
  86
  91
  97
  102
  108
  114
  120
  127
  133
  141
  148
  156
  164
  173
  182
  191
Cash from operations, $m
  1,181
  1,202
  1,226
  1,254
  1,285
  1,319
  1,357
  1,398
  1,442
  1,489
  1,439
  1,494
  1,552
  1,614
  1,679
  1,749
  1,823
  1,901
  1,983
  2,071
  2,163
  2,260
  2,363
  2,471
  2,584
  2,704
  2,830
  2,963
  3,103
  3,250
Maintenance CAPEX, $m
  -272
  -277
  -284
  -291
  -300
  -309
  -319
  -330
  -342
  -355
  -369
  -383
  -399
  -416
  -433
  -452
  -472
  -493
  -515
  -539
  -564
  -590
  -618
  -647
  -677
  -710
  -744
  -780
  -817
  -857
New CAPEX, $m
  -59
  -70
  -79
  -88
  -97
  -107
  -116
  -125
  -135
  -144
  -154
  -165
  -175
  -186
  -197
  -209
  -221
  -234
  -247
  -261
  -275
  -290
  -306
  -322
  -339
  -357
  -376
  -395
  -416
  -438
Cash from investing activities, $m
  -331
  -347
  -363
  -379
  -397
  -416
  -435
  -455
  -477
  -499
  -523
  -548
  -574
  -602
  -630
  -661
  -693
  -727
  -762
  -800
  -839
  -880
  -924
  -969
  -1,016
  -1,067
  -1,120
  -1,175
  -1,233
  -1,295
Free cash flow, $m
  851
  855
  864
  874
  888
  904
  922
  942
  965
  990
  916
  946
  978
  1,012
  1,049
  1,088
  1,129
  1,174
  1,221
  1,271
  1,324
  1,380
  1,439
  1,502
  1,568
  1,637
  1,711
  1,788
  1,870
  1,956
Issuance/(repayment) of debt, $m
  70
  79
  89
  100
  110
  121
  131
  142
  152
  163
  175
  186
  198
  210
  223
  237
  250
  265
  280
  295
  311
  328
  346
  364
  384
  404
  425
  447
  471
  495
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  70
  79
  89
  100
  110
  121
  131
  142
  152
  163
  175
  186
  198
  210
  223
  237
  250
  265
  280
  295
  311
  328
  346
  364
  384
  404
  425
  447
  471
  495
Total cash flow (excl. dividends), $m
  921
  934
  953
  974
  998
  1,024
  1,053
  1,084
  1,117
  1,153
  1,091
  1,132
  1,176
  1,222
  1,272
  1,324
  1,380
  1,438
  1,500
  1,566
  1,635
  1,708
  1,785
  1,866
  1,951
  2,041
  2,136
  2,236
  2,340
  2,451
Retained Cash Flow (-), $m
  -93
  -113
  -129
  -144
  -159
  -174
  -189
  -204
  -219
  -235
  -251
  -268
  -285
  -303
  -321
  -340
  -360
  -381
  -402
  -425
  -448
  -472
  -498
  -524
  -552
  -581
  -612
  -644
  -677
  -712
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  828
  821
  824
  831
  839
  851
  864
  880
  898
  918
  839
  864
  891
  919
  950
  984
  1,020
  1,058
  1,098
  1,141
  1,187
  1,236
  1,287
  1,342
  1,399
  1,460
  1,524
  1,592
  1,663
  1,738
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  794
  751
  717
  684
  651
  617
  584
  550
  516
  481
  399
  369
  339
  309
  279
  250
  222
  195
  169
  145
  123
  103
  84
  68
  54
  43
  33
  25
  18
  13
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Smith & Nephew plc is a medical technology company. The Company is engaged in developing, manufacturing, marketing and selling medical devices and services. Its products and services include Sports Medicine Joint Repair, Arthroscopic Enabling Technologies (AET), Trauma & Extremities, Other Surgical Businesses, Knee Implants, Hip Implants, Advanced Wound Care, Advanced Wound Bioactives and Advanced Wound Devices. The Sports Medicine Joint Repair franchise offers surgeons a range of instruments, technologies and implants necessary to perform minimally invasive surgery of the joints, including the repair of soft tissue injuries and degenerative conditions of the knee, hip and shoulder. The AET franchise offers an array of minimally invasive surgery-enabling systems and devices. The Trauma & Extremities franchise supports healthcare professionals with solutions used by surgeons to stabilize severe fractures, correct bone deformities, treat arthritis and heal soft tissue complications.

FINANCIAL RATIOS  of  Smith&Nephew ADR (SNN)

Valuation Ratios
P/E Ratio 40.9
Price to Sales 6.9
Price to Book 8.1
Price to Tangible Book
Price to Cash Flow 37.8
Price to Free Cash Flow 70.2
Growth Rates
Sales Growth Rate 0.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 9.5%
Cap. Spend. - 3 Yr. Gr. Rate 2.9%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 39.5%
Total Debt to Equity 41.7%
Interest Coverage 23
Management Effectiveness
Return On Assets 11.3%
Ret/ On Assets - 3 Yr. Avg. 8.5%
Return On Total Capital 14.2%
Ret/ On T. Cap. - 3 Yr. Avg. 10.5%
Return On Equity 19.8%
Return On Equity - 3 Yr. Avg. 14.1%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 72.8%
Gross Margin - 3 Yr. Avg. 74.6%
EBITDA Margin 33.7%
EBITDA Margin - 3 Yr. Avg. 27.6%
Operating Margin 24.1%
Oper. Margin - 3 Yr. Avg. 18%
Pre-Tax Margin 22.7%
Pre-Tax Margin - 3 Yr. Avg. 16.8%
Net Profit Margin 16.8%
Net Profit Margin - 3 Yr. Avg. 12.2%
Effective Tax Rate 26.2%
Eff/ Tax Rate - 3 Yr. Avg. 27.6%
Payout Ratio 35.6%

SNN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SNN stock intrinsic value calculation we used $4765 million for the last fiscal year's total revenue generated by Smith&Nephew ADR. The default revenue input number comes from 0001 income statement of Smith&Nephew ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SNN stock valuation model: a) initial revenue growth rate of 2.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for SNN is calculated based on our internal credit rating of Smith&Nephew ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Smith&Nephew ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SNN stock the variable cost ratio is equal to 82.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for SNN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Smith&Nephew ADR.

Corporate tax rate of 27% is the nominal tax rate for Smith&Nephew ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SNN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SNN are equal to 59.8%.

Life of production assets of 10.5 years is the average useful life of capital assets used in Smith&Nephew ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SNN is equal to 26.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $4644 million for Smith&Nephew ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 39.984 million for Smith&Nephew ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Smith&Nephew ADR at the current share price and the inputted number of shares is $1.5 billion.

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COMPANY NEWS

▶ What Does Smith & Nephew plcs (LON:SN.) PE Ratio Tell You?   [Oct-22-18 01:44AM  Simply Wall St.]
▶ Do Institutions Own Shares In Smith & Nephew plc (LON:SN.)?   [Sep-17-18 06:10AM  Simply Wall St.]
▶ Smith & Nephew buoyed by recovery in U.S. market   [Jul-26-18 04:17AM  Reuters]
▶ [$$] Smith & Nephew: hospital pass   [12:10AM  Financial Times]
▶ [$$] Smith & Nephew shares slide as it downgrades forecasts   [May-02-18 10:47PM  Financial Times]
▶ Does Smith & Nephew plcs (LON:SN.) PE Ratio Warrant A Buy?   [Apr-26-18 10:26AM  Simply Wall St.]
▶ [$$] WPP Chairman Looks to Fill the Gap Left by Sorrell's Sudden Exit   [Apr-16-18 01:52PM  The Wall Street Journal]
▶ [$$] Smith & Nephew replaces Bohuon as chief executive   [Apr-04-18 07:27AM  Financial Times]
▶ Former Alere CEO named to head another medical device giant   [06:58AM  American City Business Journals]
▶ [$$] Smith & Nephew: shoot from the hip   [12:06AM  Financial Times]
▶ Manufacturing company adding 100 jobs in Fort Worth in $29M expansion   [Mar-21-18 07:37AM  American City Business Journals]
▶ IIROC Trade Resumption - SNN   [Mar-07-18 08:13AM  PR Newswire]
▶ IIROC Trade Resumption - SNN   [08:13AM  CNW Group]
▶ IIROC Trading Halt - SNN   [Mar-06-18 03:50PM  PR Newswire]
▶ Is Smith & Nephew plc (LON:SN.) A Buy At Its Current PE Ratio?   [Dec-29-17 07:07AM  Simply Wall St.]
▶ What is Behind Smith & Nephew plcs (LON:SN.) Superior ROE?   [Dec-22-17 06:03AM  Simply Wall St.]
▶ Is There Now An Opportunity In Smith & Nephew plc (LON:SN.)?   [Dec-15-17 03:17AM  Simply Wall St.]
▶ Stocks Generating Improved Relative Strength: Smith & Nephew   [Nov-10-17 03:00AM  Investor's Business Daily]
▶ [$$] Smith & Nephew lowers guidance for full-year results   [Nov-03-17 09:54AM  Financial Times]
▶ [$$] Elliott Management takes stakes in GEA and Smith & Nephew   [Oct-11-17 11:57AM  Financial Times]
▶ [$$] Smith & Nephew: hippy hippy shake-up   [11:19AM  Financial Times]
▶ Elliott Said to Build Stake in Smith & Nephew   [04:35AM  Bloomberg Video]
▶ Why MannKind, Nutanix, and Smith & Nephew Jumped Today   [Oct-10-17 04:30PM  Motley Fool]
▶ Stocks Showing Improved Relative Strength: Smith & Nephew   [Oct-05-17 03:00AM  Investor's Business Daily]
▶ [$$] Medical Tech Bounces Back in Emerging Markets   [Aug-23-17 03:35PM  Barrons.com]
▶ Training Memphis' next generation of agtech and biotech workers   [Jun-16-17 03:15PM  American City Business Journals]
▶ 3 Best Dividend Stocks in the Medical Device Industry   [Jun-03-17 02:04PM  Motley Fool]
▶ ETFs with exposure to Smith & Nephew Plc : April 27, 2017   [Apr-27-17 04:16PM  Capital Cube]
▶ ETFs with exposure to Smith & Nephew Plc : April 7, 2017   [Apr-07-17 05:30PM  Capital Cube]

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