Smith & Nephew stock faces a Q2 revenue miss
Published on 09/25/2026 at 08:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Smith & Nephew (ISIN GB0009223206) closed at GBp 1,027.50 on the London Stock Exchange on September 18, 2026. The medical-device maker's second-quarter revenue came in below the USD 1.64 billion analyst forecast, according to Investing.com.
Revenue misses the forecast
Revenue reached USD 1.6 billion in the second quarter, compared with USD 1.64 billion expected by analysts. The same report said underlying revenue growth was 1.6 percent, while reported revenue growth reached 2.8 percent.
The comparison points to a narrow growth profile rather than a broad contraction. Sports medicine and wound care contributed to the quarter, while U.S. orthopaedics and SANTYL performed below expectations, according to Investing.com.
Morgan Stanley cuts its target
Morgan Stanley downgraded Smith & Nephew to Equalweight from Overweight on September 2, 2026, and lowered its price target from GBP 13.04 to GBP 11.58. The bank said the company's 2025 to 2028 medium-term revenue target appeared ambitious and might require a reset, with challenged growth in orthopaedics, wound biologics and China.
The downgrade adds a valuation question to the revenue miss. The analyst's 2028 earnings estimates were 2 percent below consensus, according to Investing.com.
London price sets the reference
Smith & Nephew's reference price was GBp 1,027.50 on the London Stock Exchange on September 18, 2026. The next market signal is the company's ability to convert its medical-device portfolio into faster revenue growth while rebuilding confidence in its medium-term targets.
Smith & Nephew market data
- Company: Smith & Nephew plc
- ISIN: GB0009223206
- Ticker: SN
- Trading venue: London Stock Exchange
- Closing price (September 18, 2026): GBp 1,027.50
- Sector / Industry: Healthcare / Medical Devices
