EARNINGS PREVIEW: Smith & Nephew Net Profit Up $132M

2nd Aug 2010 15:20

Smith & Nephew PLC (SN.LN): 2Q Earnings Due: August 5 at 0600 GMT DJ Survey of 3 UK analysts Average Net Profit: $132M, up 12% ($118M in Q2 2009) Average Revenue: $936M, up 1% ($926M in Q2 2009) Note: Bernstein Research said it's cautious on the stock ahead of group's 2Q results after U.S. peers showed hip and knee growth there slowed. Says strong dollar, in which it reports, will weigh, along with rising caution U.S. surgeons show about metal-on-metal bearing surfaces. Says Smith & Nephew's lack of a product launches should lead to under-performance versus the hip and knee markets. Exposure to EU health spending pressures also a concern. Says one bright spot is U.S. trauma market, with stable growth around 7%. Rates Smith & Nephew at underperform with GBP5.50 target price. Shares +1.7% at GBP5.64. ([email protected]) (END) Dow Jones Newswires August 02, 2010 10:20 ET (14:20 GMT)