Smith & Nephew's new sales model has seen slow uptake in its first year.
Smith & Nephew’s first-half results consistently matched up with our expectations on the top and bottom lines; we’re leaving our fair value estimate unchanged. From our standpoint, the firm continues to be in a weaker position compared with the larger orthopedic competitors, even though it has pursued a number of initiatives to ease its reliance on large joint reconstruction. Smith & Nephew needs time for these new efforts to gain scale and bear fruit, but it is racing against the distin...
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