Smith & Nephew, Europe's largest maker of artificial joints, posted a 5 percent drop in underlying trading profit on Thursday, after some U.S. patients pulled their procedures into the previous quarter. The company posted trading profit of $229 million on revenue of $1.07 billion, up 1 percent on an underlying basis, both narrowly missing average analyst forecasts.Chief Executive Olivier Bohuon said the group remained confident in its 2014 outlook as it roll-outs new products and sees an increasing contribution from acquisitions.Smith & Nephew faces a stronger competitor in Zimmer Holdings Inc, which agreed to purchase rival Biomet Inc last week for more than $13 billion.The deal makes it the second-ranking orthopaedics company behind Johnson & Johnson. Smith & Nephew will be fourth, trailing Stryker.
Johnson & Johnson is a holding company. The Company is engaged in the research and development, manufacture and sale of a broad range of products in the health care field. Shares of JNJ traded higher by 0.26% or $0.26/share to $101.29. In the past year, the shares have traded as low as $82.12 and as high as $101.98. On average, 8586910 shares of JNJ exchange hands on a given day and today's volume is recorded at 8519913.
Zimmer Holdings, Inc. (Zimmer) designs, develops, manufactures and markets orthopaedic reconstructive, spinal and trauma devices, biologics, dental implants and related surgical products. Shares of ZMH fell by 1.13% or $-1.11/share to $96.80. In the past year, the shares have traded as low as $74.55 and as high as $108.33. On average, 1475550 shares of ZMH exchange hands on a given day and today's volume is recorded at 1917355.
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