frog_in_a_tree
20 Aug 2019
NEW ARTICLE: Smith & Nephew dives as chief exits As a company producing items like joint replacements in the context of an ageing population, it would appear that the market is likely to grow. The p/e is a bit high at 24 but not unusual for the sector. Its a good company and I am not losing sleep over it. Frog in a tree
In_the_dark_yet_again
20 Aug 2019
NEW ARTICLE: Smith & Nephew dives as chief exits LSE:SN Finger just got too itchy! Only sold 250 @1935 (of 2000), just for cash as a few expenses coming up - everything else in my dealing account looked better value at the current levels (i.e. they’re all in the doghouse at the moment ha ha!) No idea how far this can run as it does look over-priced to me too so a small partial sale at levels more than 3x what I paid for them 7 years ago isn’t too shabby. Regards, ITDYA
frog_in_a_tree
10 Aug 2019
NEW ARTICLE: Smith & Nephew dives as chief exits I took a look at SN this morning. There looks to have been something like a share price appreciation of around 25% year to date. The financials are a bit worrying with a p/e around 24 and a yield at a correspondingly low 1.6%. Should I sell or hold? The figures suggest that it is overpriced and for my money I could buy a better yield. On balance this company is a market leader and there is little chance of it going belly up. In the post Brexit world it should do OK as most of its sales are overseas. HOLD. On the medical side, I also hold Astra Zenica, Glaxo and Dechra. All have done well for me and they all make most of their money in overseas sales. Frog in a tree
In_the_dark_yet_again
31 Jul 2019
NEW ARTICLE: Smith & Nephew dives as chief exits LSE:SN [link] I’m finding it hard to get excited about 3-3.5% growth pretty much across the board but the market is clearly pleased with it. @gamesinvestor: if you thought it was “remarkably overpriced†back mid May what now? Me, I’m still holding. Same reasons - on fundamentals it seems grossly overpriced but ‘ride your winners’ is the rule so holding and dragging the stop up (quite tight) behind. Regards, ITDYA, sitting thigh but with a very itchy trigger finger.
pelim
03 Jul 2019
Market seems to like the latest acquisition But there is no indication of the impact on the bottom line?
In_the_dark_yet_again
02 May 2019
NEW ARTICLE: Smith & Nephew dives as chief exits LSE:SN [link] Well that Q1 trading statement is just more of the same. I can’t see anything to get too excited about but the market clearly like it. For me, today’s news is that there is no news today here. Regards, ITDYA
In_the_dark_yet_again
01 May 2019
NEW ARTICLE: Smith & Nephew dives as chief exits LSE:SN @gamesinvestor, @Gamesinvestor1 Sorry about the double tag, guessing 1 is a reincarnation following some II debacle … I’ve been in SN since July 2012 @ 635. It seemed toppy to me then but there were a few rumours (buy the rumour, sell the fact?). Anyway the rumour of a takeover has never really gone away, it’s always in the background. On fundamentals it’s always seemed expensive to me but it’s always just marched along. Dividend yield and growth never really up to what I’d expect… but it just marches along! I hold because it is such a specialist, has so many patents on things worth so much, the real value of Intellectual Property Rights definitely not fully stated on the balance sheet. Almost money guaranteed but growth is slow. At some point someone will come buy it but I can see why a bidder might hesitate; it does seem expensive! Regards, ITDYA, thinking SN is expensive, always has been, possibly always will be. In the meantime, it just marches slowly on. I hold and drag my stop up behind.
gamesinvestor
03 May 2018
Re: NEW ARTICLE: Smith & Nephew dives as chi... still looks remarkably overpriced even after today's 6.78% drop as I type.Games
II Editor
03 May 2018
NEW ARTICLE: Smith & Nephew dives as chief exits "Having overseen a near-doubling in the LSE:SN.:Smith & Nephew share price during his seven year tenure, today's profit downgrade is an unfortunate way for chief executive Olivier Bohuon to bow out at the medical devices company.He's successfully ..."[link]
nk1999
25 Jan 2018
JP Morgan Cazenove "Analysts at JPMorgan Cazenove update the investment firm's forecasts on Smith and Nephew (S&N) on Thursday, upgrading the medical technology group's rating to 'overweight'.JPMorgan moved its target for S&N ahead to 1,411p from its previous 1,369p expectation after the London-based group saw significant tailwinds from currency moves and recent US tax reforms.The analysts noted that while they had expected a boost as a result of the changes to US tax laws back in December, S&N's announcement that its group tax rate would fall to 20-21% from its previous figure of 25% was better than they had initially expected.In regards to the FX upgrade, JPMorgan saw a decent dollar tailwind that led to a 4% upgrade to its revenue forecasts for S&N.As a result of the moves, JPMorgan felt S&N was ahead of its 2019 full-year revenue forecasts by around 2% and about 8% above its earnings per share targets."(From ADVFN)
oldjoe1
27 Oct 2017
SN. Chart B/Out, Update Market 3rd November SN. Smith @Nephew..reports on 3rd of November and im expecting SP to chase upwards to that date. Gap up at open on verge of 5 year breakout.
bombay mango
11 Oct 2017
Re: From FT: Activist hedge fund Elliott tak... see the chart developi
bombay mango
11 Oct 2017
From FT: Activist hedge fund Elliott takes aim at Smith & Nephew Elliott Management, the activist hedge fund run by billionaire Paul Singer, has built a stake in UK medical device maker Smith & Nephew, according to a person familiar with the matter.It is not clear how big of a holding Elliott has and what the fund’s plans are for the company. But the news, first reported by Bloomberg, was enough to send Smith & Nephew’s US-listed ADRs up more than 5 per cent on Tuesday.Elliott declined to comment while a spokesperson for Smith & Nephew simply said: “We do not comment on rumour or speculation and we do no comment on the identity of our investors other than those publicly disclosed.”News of the stake building comes just one day after the company’s long-standing chief executive Olivier Bohuon abruptly announced that he was retiring next year.More recently, executive pay at Smith & Nephew has come under fire from investors, with a shareholder rebellion over management bonuses at the group’s 2016 annual shareholder meeting.
Cantseethewoodsforthetrees
09 Oct 2017
CEO to retire Smith & Nephew said that chief executive Olivier Bohuon will retire by the end of 2018.The company's board is commencing a search for a successor."Looking ahead to the next long-term phase of growth, I have decided to announce my retirement plans now, providing ample time to identify a successor and ensure a smooth transition," Bohuon said."I am committed to leading the company in the meantime, as we remain resolutely focused on delivering a solid performance in 2017."
aspace
16 Apr 2017
Re: Massively overpriced? I tend to agree, unfortunately. Over the years I have been in and out of this share, which is not my usual buy-and-hold strategy. Am currently out. Revisited it over the Easter break and have had to conclude it isn't attractive enough to buy back in. But although the share price has appreciated in Sterling, it has languished in US dollar terms due to GBP deflation. That might increase SN's attractiveness as a takeover target. But I would not buy in on that basis. No sirrreeee. The fundamentals just aren't good enough:* Sales, profits and cash flows have risen over past ten years but not impressively. Cashflow from operations has been hovering below USD1 billion for ten years. Real slow & steady. * In USD the share price hasn't even doubled in ten years! Hopeless. My boring weatherboards have done better than that!* 15% average return on capital employed ... not bad but for a business at the cutting edge of health I would have expected better. * 0.3% interest generated on surplus cash, but paying 4.1% on average debt financing seems a little high at the moment. Not sure what their treasury dept is doing?* Although interest cover and dividend cover remain very strong which perhaps makes them a little bond-like, if that is what you are looking for. * 2% dividend yield is unexciting, although not important to me as I am in employment so dividends on add to my tax bill. Would rather see them reinvested wisely. * But average employee salary of US$100,000 seems too high. I guess that's the nature of their business in hi-tech medical equipment. If that's what they have to pay, then they need better labour productivity. I also don't like that they bought back shares when they sold the gynaecology business in 2016. Share buybacks are great IF at the right price. Given the overpriced shares it is likely they overpaid when they did the buybacks and should therefore have either redeployed it within the business OR returned it to shareholders as a special dividend. I'm staying out.
