Smith & Nephew plc research snapshot
SNN AI stock analysis currently reads Smith & Nephew plc as a medical technology company that completed its 12-Point Plan with higher revenue, trading margin and free cash flow, launched the RISE strategy with 2028 targets, and now faces the August 4, 2026 H1 results as the next major catalyst. At the August 3, 2026 data cutoff, SNN closed at $31.56 on July 31, 2026, with calculated market capitalization near $13.40 billion and a reported reference near $13.12 billion. FY2025 revenue was $6.164 billion with 5.3% underlying growth, trading profit was $1.211 billion at a 19.7% margin, and free cash flow was $840 million. Q1 2026 revenue was $1.501 billion with 3.1% underlying growth, and full-year guidance is unchanged at about 6% underlying growth, about $1.3 billion trading profit and about $800 million free cash flow. The SNN AI stock forecast uses scenario ranges rather than a guaranteed price target because the H1 2026 print, US knee trajectory, skin-substitute reimbursement, China VBP, tariffs and multiple expansion all matter. This page is informational research and not investment advice.
Current price
$31.56 close on July 31, 2026
Market cap
$13.40 billion calculated ($31.56 x 424.68 million ADR-equivalent shares), about $13.12 billion reported reference
AI score
71 / 100
Rating
Mid-cap MedTech turnaround entering the August 4, 2026 H1 results with reasonable forward valuation, an active buyback and recovering technicals, offset by a H2-weighted growth plan and reimbursement, China and tariff headwinds
Trend status
Recovering: above the 20-day, 50-day and 100-day moving averages but below the 200-day after a late-July rally into the August 4, 2026 H1 results
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | Smith & Nephew sells orthopaedic implants, sports medicine and ENT devices, and advanced wound-care products across Orthopaedics, Sports Medicine & ENT, and Advanced Wound Management, with FY2025 revenue of $6.164 billion. | High |
| Moat | The moat comes from clinical evidence, surgeon training, hospital relationships, CORI robotics, brands such as REGENETEN, CARTIHEAL and PICO, CPT code progress, regulatory know-how and global distribution scale. The moat is solid but narrower than the largest MedTech peers, especially in US knees. | Medium-high |
| Management | CEO Deepak Nath completed the 12-Point Plan, launched RISE with 2028 targets, completed Integrity Orthopaedics, executed two $500 million buybacks and reset Orthopaedics leadership. The next test is the August 4 H1 2026 print and the H2 acceleration. | Medium-high |
| Financial trend | FY2025 revenue rose 6.1% reported and 5.3% underlying to $6.164 billion. Trading profit rose 15.5% to $1.211 billion at a 19.7% margin, and free cash flow rose 52.5% to $840 million. Q1 2026 revenue was $1.501 billion with 3.1% underlying growth. | High |
| Valuation | At $31.56, financial_rigor.py calculates about 21.9x TTM ADR EPS near $1.44, about 14.2x FY2026E adjusted EPS near $2.22 per ADR, about 2.5x book value near $12.46, about 15.8x FCF per ADR near $2.00, and a dividend yield near 2.4%. | High for math, medium for forward value |
| Technical trend | Price is above the 20-day near $30.85, the 50-day near $30.44 and the 100-day near $31.22 but below the 200-day near $32.72 after a late-July rally into the August 4, 2026 H1 results. | Medium |
| Risk level | Risk is medium-high because procedure demand is durable, but the August 4 H1 results, US knee lag, skin-substitute reimbursement reset, China VBP, tariffs, product mix, FX and competition can compress growth or margins. | Medium-high |
| AI confidence | High for reported financials, company guidance language and market data. Medium for forecast ranges because the H1 2026 event and MedTech multiples can re-rate faster than fundamentals. | High data confidence |
| Investment certainty | Medium certainty. The turnaround evidence is real, but the stock still needs proof on August 4 and through H2 that RISE can convert mid-single-digit growth into higher ROIC without valuation compression. | Medium |
SNN AI stock forecast
The SNN AI stock forecast is scenario-based around the $31.56 closing price on July 31, 2026. Using FY2026E consensus adjusted EPSA of $1.11 per ordinary share, about $2.22 per ADR, and financial_rigor.py three-scenario math with EPS growth of 12%, 8% and 2% and exit multiples of 19x, 15x and 11x over three years, the framework produced values near $59 in a bull case, $42 in a base case and $26 in a bear case. These are not price promises. They show how sensitive SNN is to the August 4 H1 results, US knee trajectory, skin-substitute stabilization, China VBP, tariffs, free cash flow, buybacks and the earnings multiple investors assign to a mid-cap MedTech recovery story.
$55 to $63
More likely if the August 4 H1 2026 results confirm guidance of about 6% underlying growth and about $1.3 billion trading profit, US knees improve with LANDMARK and cementless LEGION launches, skin substitutes stabilize, China VBP stays small, free cash flow stays near $800 million or better, and investors re-rate SNN toward a mid-to-high-teens multiple.
$39 to $44
More likely if Smith & Nephew delivers mid-single-digit underlying growth, absorbs 2026 tariff and reimbursement headwinds through cost savings, keeps free cash flow constructive, and trades around a mid-teens forward multiple on adjusted earnings.
$23 to $29
More likely if the H1 2026 print disappoints, US knee share keeps lagging, skin-substitute reimbursement or China VBP cuts deeper than guided, tariffs erase leverage, free cash flow fades, or investors compress SNN toward a low-teens or lower MedTech multiple.
SNN AI technical analysis
SNN AI technical analysis is neutral to cautiously constructive as of the August 3, 2026 data cutoff. StockAnalysis.com showed a July 31, 2026 close of $31.56, up about 5% from the July 8 level, trading above the 20-day, 50-day and 100-day moving averages near $30.85, $30.44 and $31.22 but still below the 200-day near $32.72. Barchart showed 14-day RSI near 55 and a weak-trend ADX near 14.6 with a positive directional bias. The chart should be rechecked with live data before any trade because the August 4 H1 2026 results are a near-term event risk.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $31.56 | July 31, 2026 closing quote used for this static page and market-cap verification, up about 5% from the $29.95 July 8, 2026 close. |
| Near support | $30.30 to $30.50 | The 50-day moving average near $30.44 is the first support zone after the late-July rally. |
| Deeper support | $29.50 to $29.90 | This band includes the late-June and early-July consolidation area around the $29.95 July 8 close and recent downside liquidity. |
| Major support | $28.50 to $28.80 | This band is anchored by the reported 52-week low near $28.56; a close below would shift the trend to downside risk control. |
| Near resistance | $32.30 to $32.75 | The July 30 high near $32.33 and the 200-day moving average near $32.72 cap the immediate bounce. |
| Next resistance | $34.00 to $35.00 | The analyst consensus area, with a median near $35 and an average target of $34.07, is the next upside hurdle. |
| Major resistance | $36.00 to $38.79 | The upper band includes the reported 52-week high near $38.79 and prior recovery highs from the 2025-2026 range. |
| Moving averages | 20-day $30.85, 50-day $30.44, 100-day $31.22, 200-day $32.72 | Barchart reported these values at the July 31, 2026 close; price is above the shorter averages and below the 200-day, so the intermediate trend is still recovering. |
| Momentum | Recovering | 14-day RSI near 55 with a positive directional bias on Barchart after the late-July advance, still below overbought. |
| Volume | About 1.8 million shares on recent sessions | July 31 volume near 1.84 million was close to the 20-day average near 1.73 to 1.80 million; the August 4 results will decide sponsorship. |
| Volatility | Event-driven MedTech risk | Barchart reported a 14-day ATR near $0.77, about 2.4%, with elevated historical volatility near 37%, so earnings-driven swings are likely around the H1 2026 release. |
| Invalidation | Close below $29.50, then $28.56 | A close below the 50-day area weakens the recovery. A close below the 52-week low area would shift focus to downside risk control. |
SNN AI trading strategy
The SNN AI trading strategy is a rules-based framework, not a personalized recommendation. Use it with live charts, position sizing, the August 4 H1 2026 results, China and reimbursement news, tariff updates, guidance language and clear invalidation levels.
Look for SNN to hold above the $30.30 to $30.50 area, then reclaim $32.30 to $32.75, including the 200-day near $32.72, on volume above the recent average after the August 4 H1 results confirm underlying growth, trading profit, free cash flow and the US knee trajectory.
A close below $29.50, or a failed reclaim of $32.30 with rising down-day volume, should invalidate the near-term trend setup.
If SNN pulls back toward $29.50 to $29.90 without a new thesis break, compare the selloff with H1 results, growth guidance, skin-substitute reimbursement, China VBP, tariff assumptions, free cash flow and buyback capacity.
Do not treat franchise quality as a substitute for a stop or position limit because mid-cap MedTech multiples can compress quickly when growth disappoints.
Track underlying revenue growth by Orthopaedics, Sports Medicine & ENT and Advanced Wound Management; the US knee trajectory and LANDMARK launch; CORI adoption; trading margin; free cash flow; adjusted ROIC; skin-substitute stabilization; China VBP timing; tariffs; Integrity Orthopaedics integration; and capital returns.
Reduce confidence if growth is only FX-driven, if trading profit guidance depends on temporary cost cuts, if free cash flow quality deteriorates, or if guidance relies on a H2 acceleration that the August 4 print does not confirm.
Investment research summary
Customers pay Smith & Nephew for implants, sports-medicine tools, ENT devices and wound-care products that help surgeons and care teams repair, regenerate and replace soft and hard tissue, restoring mobility and healing outcomes.
The moat is built from clinical evidence, surgeon training, procedure workflows, CORI robotics, differentiated brands such as REGENETEN, CARTIHEAL and PICO, regulatory experience, CPT code progress, manufacturing quality and global hospital relationships. Competitors can still erode share with better robotics, pricing or channel intensity.
The thesis fails if the August 4 H1 2026 results disappoint, US knees keep lagging, skin-substitute reimbursement or China VBP cuts deeper than guided, tariffs erase leverage, or the market stops paying for a mid-cap turnaround multiple after the 2026 recovery.
Deepak Nath delivered the 12-Point Plan finish line, launched RISE with 2028 targets, completed Integrity Orthopaedics, ran two $500 million buybacks and reset Orthopaedics leadership. The August 4 H1 print and the H2 acceleration are the next scorecard.
Smith & Nephew sits inside durable healthcare trends: aging populations, orthopaedic procedures, ambulatory surgery centers, sports repair, wound prevention and procedure-enabling technology. These trends are long duration, but tendering, reimbursement and site-of-care shifts can still interrupt local growth.
Around $31.50, SNN trades near 14x forward earnings with a dividend yield near 2.4% and an average analyst target of $34.07. Margin of safety improves if price holds the $30.30 to $30.50 zone while H1 results, growth near 6%, trading profit near $1.3 billion and free cash flow near $800 million stay intact. Margin of safety shrinks if the market only pays for perfect H2 execution.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| SNN price | $31.56 close on July 31, 2026, up about 5% from the $29.95 July 8, 2026 close | StockAnalysis.com real-time quote and Yahoo Finance | July 31, 2026 |
| Market capitalization | $13.40 billion calculated as $31.56 x 424.68 million ADR-equivalent shares (849.36 million ordinary shares at a 2:1 ADS ratio); reported reference near $13.12 billion | financial_rigor.py market cap verification and StockAnalysis.com statistics | August 2, 2026 |
| Shares outstanding | 849.36 million ordinary shares, about 424.7 million ADR-equivalent shares; down about 0.34% year over year | StockAnalysis.com statistics | August 2, 2026 |
| FY2025 revenue | $6.164 billion, +6.1% reported and +5.3% underlying; cross-validated across the company release and StockAnalysis.com | Smith+Nephew FY2025 results release | August 2, 2026 |
| FY2025 segment revenue | Orthopaedics $2.437 billion; Sports Medicine & ENT $1.934 billion; Advanced Wound Management $1.793 billion | Smith+Nephew FY2025 results release | August 2, 2026 |
| FY2025 trading profit and margin | Trading profit $1.211 billion (+15.5%); trading margin 19.7% (+160 bps); operating profit $794 million at a 12.9% margin | Smith+Nephew FY2025 results release | August 2, 2026 |
| FY2025 EPS and EPSA | EPS 72.1 cents per ordinary share (144.2 cents per ADS); EPSA 102.0 cents per ordinary share | Smith+Nephew FY2025 results release | August 2, 2026 |
| FY2025 free cash flow and leverage | Free cash flow $840 million (+52.5%); adjusted net debt/EBITDA 1.7x; adjusted ROIC 8.3% | Smith+Nephew FY2025 results release | August 2, 2026 |
| Q1 2026 revenue and guidance | Q1 revenue $1.501 billion with 3.1% underlying growth (4.7% adjusted daily sales); FY2026 guidance unchanged at about 6% underlying growth, about $1.3 billion trading profit, about $800 million free cash flow; new $500 million buyback announced | Smith+Nephew Q1 2026 trading update | August 2, 2026 |
| H1 2026 results date | H1 2026 results scheduled for August 4, 2026 before market open | StockAnalysis.com earnings date and Smith+Nephew forward calendar | August 2, 2026 |
| Dividend context | Full-year 2025 distribution 39.1 cents per ordinary share (78.2 cents per ADS), +4.3% year over year; annualized ADS dividend near $0.75 to $0.78 with a yield near 2.4% to 2.5% | Smith+Nephew FY2025 results release and StockAnalysis.com statistics | August 2, 2026 |
| Valuation math | About 21.9x TTM ADR EPS near $1.44, about 14.2x FY2026E adjusted EPS near $2.22 per ADR, about 2.5x book, about 15.8x FCF per ADR near $2.00, and about 2.4% dividend yield at $31.56 via financial_rigor.py | financial_rigor.py verification using StockAnalysis.com and company inputs | August 2, 2026 |
| Analyst consensus | Buy rating across 5 analysts with an average target of $34.07, low $30, median $35 and high $38.40 | StockAnalysis.com forecast, S&P Global and TipRanks consensus | July 30, 2026 |
| Consensus estimates | FY2026 revenue $6.57 billion (+6.5%) with adjusted EPS $1.11 per ordinary share ($2.22 per ADR) and free cash flow $773 million; FY2027 revenue $6.94 billion with adjusted EPS $1.24 | StockAnalysis.com forecast financial forecast | July 30, 2026 |
| Technical snapshot | 20-day moving average $30.85, 50-day $30.44, 100-day $31.22, 200-day $32.72, 14-day RSI near 55, 14-day ADX near 14.6, 52-week range $28.56 to $38.79 | Barchart technical analysis and StockAnalysis.com statistics | July 31, 2026 |
| Short interest | 4.51 million shares short, 1.07% of shares outstanding, 2.93 days to cover | StockAnalysis.com statistics short selling | August 2, 2026 |
| Balance sheet context | TTM cash and equivalents $557 million, total debt $3.33 billion, net debt about $2.77 billion, book value $5.29 billion | StockAnalysis.com statistics | August 2, 2026 |
This SNN AI stock analysis is an informational research tool only. It is not investment advice, a recommendation or a promise of future performance. Forecast ranges are scenarios based on available data as of August 3, 2026 and can be wrong if earnings, the August 4 H1 2026 results, procedure demand, China tendering, reimbursement, tariffs, regulation, litigation, acquisitions, FX or market multiples change.
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