Smith & Nephew reported annual revenues exceeding $5 billion this week, sparking a 7% rise in its stock in the first quarter under the leadership of Roland Diggelmann.
The ex-CEO of Roche Diagnostics presented the results on Thursday, the same day as NuVasive, a rumored takeover target for Smith & Nephew about a year ago, and fellow spinal device player Globus Medical posted their financials.
NuVasive, which pre-reported earnings last month, revealed it expects sales to grow between 4% and 6% in 2020, in line with analyst expectations. Globus Medical reported 8% revenue growth, another quarter of above-market performance for its spine business.