Health care equipment & supplies
Smith & Nephew is a global medical-technology company specialising in orthopaedics, sports medicine and advanced wound care. Its products include joint implants, surgical devices, wound dressings and technologies used by hospitals and surgeons worldwide.
Hip and knee implants, sports-medicine and arthroscopy products, ENT devices, advanced wound management, biologics and related surgical technologies.
The United States is the largest market, with significant sales across Europe, Asia-Pacific and emerging healthcare markets.
Procedure volumes, new product launches, US orthopaedics execution, hospital spending, ageing populations, pricing, productivity and acquisition integration.
Product recalls, litigation, regulatory approvals, weak US orthopaedics execution, hospital budget pressure, tariffs, China pricing pressure and currency movements.
4 August 2026: H1 revenue rose 4.7%, but weak US knee sales led management to reduce full-year underlying revenue-growth guidance from around 6% to around 4%. New orthopaedic products are expected to improve performance into 2027, while a $500m share buyback continues and portfolio simplification remains under scrutiny.
Smith & Nephew has a progressive dividend policy and targets an annual payout of roughly 35-40% of adjusted earnings per share. The 2026 interim dividend is 15.6 US cents per share, ex-dividend 1 October and payable 6 November; the 2025 final dividend of 24.1 cents was paid on 27 May 2026.
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