Smith & Nephew Shares Fall on Decline at U.S. Division

Dow Jones05-06

By Anthony O. Goriainoff

Shares in Smith & Nephew fell after the company said its U.S. knee implant business declined.

Shares in early European trade were down 2% at 11.365 pounds, leading the FTSE 100 index fallers.

The London-listed medical technology company said that for the quarter ended March 28, U.S. Knee Implants fell 10.3% both on a reported and an underlying basis. This was offset by strength in sports medicine.

Its orthopedics division saw underlying growth of 0.8%, versus analyst expectations of 2.2%. This reflected the decline in U.S. Knees as well as softness in Trauma & Extremities.

Still, revenue rose to $1.50 billion from $1.40 billion in the year-prior period.

The board also said it was launching a $500 million buyback program, representing around 3.5% of its current market cap.

Analysts at RBC Capital Markets said they continued to see a potential downside to guidance in future periods despite the quarter's positive results. RBC said that although it expected investors to be reassured by the in-line revenue delivery and the buyback program, it didn't see the results as "materially de-risking 2026 guidance at this stage."

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

May 06, 2026 04:33 ET (08:33 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Goriainoff \n\n\n \n\n\n  Shares in Smith & Nephew fell after the company said its U.S. knee implant business declined. \n\n\n  Shares in early European trade were down 2% at 11.365 pounds, leading the FTSE 100 index fallers. \n\n\n  The London-listed medical technology company said that for the quarter ended March 28, U.S. Knee Implants fell 10.3% both on a reported and an underlying basis. This was offset by strength in sports medicine. \n\n\n  Its orthopedics division saw underlying growth of 0.8%, versus analyst expectations of 2.2%. This reflected the decline in U.S. Knees as well as softness in Trauma & Extremities. \n\n\n  Still, revenue rose to $1.50 billion from $1.40 billion in the year-prior period. \n\n\n  The board also said it was launching a $500 million buyback program, representing around 3.5% of its current market cap. \n\n\n  Analysts at RBC Capital Markets said they continued to see a potential downside to guidance in future periods despite the quarter's positive results. RBC said that although it expected investors to be reassured by the in-line revenue delivery and the buyback program, it didn't see the results as \"materially de-risking 2026 guidance at this stage.\" \n\n\n \n\n\n  Write to Anthony O. 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