Along with the downgrade, the manufacturer saw a dip in share prices. UBS noticed the lack of momentum within the hip and knee markets as well. Smith & Nephew CEO Namal Nawana has not issued a “concrete strategy” on how to gain control of the robotics and hip and knee markets, UBS said.
“Our underlying market view is that the adoption of surgical robots will be widespread in [orthopedics] has not changed. However, we now believe our initial assumption of [Smith & Nephew’s] share of the market was too positive,” UBS analysts said to Proactive Investors.
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