8th May 2026 09:09
Smith & Nephew PLC - Watford, England-based medical devices maker - S&N hires Merrill Lynch International to run the USD250 million first tranche of the USD500 million share buyback that it announced with first-quarter results on Wednesday. The tranche begins on Friday and will be completed by September 7. The shares bought back will be cancelled or held in treasury for employee share awards. On Wednesday, S&N said the buyback plan reflects "confidence in 2026 performance and strong balance sheet and free cash flow generation", which it guided as USD840 million this year.
Current stock price: 1,110.00 pence for GBP9.48 billion market capitalisation
12-month change: up 3.9%
By Tom Waite, Alliance News editor
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