Smith & Nephew : Factor in slower momentum due to China
>Q3 review – Miss on expectations due to China - Q3 2024 revenues of $ 1,412m (+4.1% y-o-y) were 1% below ODDO BHF/consensus. Underlying growth was 4.0% (vs 6.1%/5.5% expected). China was named as the primary reason for the slower development. We acknowledge that China has become a drag on growth since the second quarter. While China created a headwind of 110bp in Q2 on underlying growth, the impact has increased to 190bp in Q3 on the back of VBP implied price pressur...Smith & Nephew is a global medical devices business operating in the markets for advanced surgical devices comprising orthopaedic reconstruction and trauma, sports medicine and advanced wound management. Co.'s advanced medical products and services include: Orthopaedic Reconstruction and Trauma (joint replacement systems for knees and hips and products to help repair broken bones); Advanced Wound Management (treatment and prevention products for hard-to-heal wounds); and Sports Medicine (implants and enabling technologies for minimally invasive repair of the joint).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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