Smith & Nephew confirms CFO departure, shares hit by read-across

12th Jan 2017 15:45

(ShareCast News) - Smith & Nephew confirmed that chief financial officer Julie Brown left the company earlier in the week, with shares in the company were hit by read across by US rivals and wider healthcare falls. The global medical technology business said that Brown ceased to be a director of the company on 11 January as announced last July.Meanwhile, after fourth quarter results from rivals Zimmer and Stryker that show robust growth, JPMorgan Cazenove put out a note where it said "market growth appears to have been reasonably robust, but bullish hopes of some near term gains seem less likely" for the FTSE 100-listed company.Analysts said they believed S&N bulls might have been expecting some gains from Zimmer's supply chain issues - this now appears less likely."S&N shares were down 1% to 1,217.5p on Thursday.