Smith & Nephew plc (NYSE:SNN) is one of the best medical device stocks to invest in right now. Canaccord cut the price target on Smith & Nephew plc (NYSE:SNN) to $32 from $35 on April 24 and reaffirmed a Hold rating on the shares. The firm updated its model ahead of the fiscal Q1 results.
In a separate development, Smith & Nephew plc (NYSE:SNN) announced on April 21 compelling evidence from a multicenter, randomized controlled trial highlighting the clinical superiority of its CARTIHEAL AGILI-C Cartilage Repair Implant. Recently published in the American Journal of Sports Medicine, the CARTIHEAL AGILI-C Cartilage Repair Implant resulted in higher overall Knee injury and Osteoarthritis Outcome Scores compared to surgical standard of care for all time points out to 60 months.
Smith & Nephew plc (NYSE:SNN) reported that patients treated with the CARTIHEAL AGILI-C Implant reported considerably better knee pain relief, along with improvements in quality of life over a 5-year period. In addition, patients “treated with the CARTIHEAL Implant reported superior improvements in performing activities related to daily living, sport, and recreation at 2, 4, and 5-years”.
Smith & Nephew plc (NYSE:SNN) develops, manufactures, markets, and sells medical devices. Its operations are divided into the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management.
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