Smith & Nephew (NYSE:SNN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Smith & Nephew is a global medical device company. The company markets clinically superior products, principally in orthopaedics, endoscopy and wound management to deliver cost-effective solutions, significant physician advantage and real patient benefits. A continuous process of supplying new and innovative products is supported by substantial R&D investment to deliver new levels of healing to patients throughout the world “
Several other equities research analysts have also commented on the stock. Canaccord Genuity reaffirmed a “buy” rating on shares of Smith & Nephew in a report on Thursday, November 1st. HSBC lowered shares of Smith & Nephew from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Finally, UBS Group lowered shares of Smith & Nephew from a “buy” rating to a “neutral” rating in a report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $41.00.
NYSE:SNN opened at $36.91 on Thursday. Smith & Nephew has a one year low of $32.22 and a one year high of $39.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.05 and a current ratio of 2.13. The firm has a market capitalization of $16.43 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 3.07 and a beta of 0.58.
Large investors have recently bought and sold shares of the business. Alps Advisors Inc. purchased a new stake in shares of Smith & Nephew during the 2nd quarter worth about $302,000. Sei Investments Co. boosted its stake in shares of Smith & Nephew by 14.6% during the 2nd quarter. Sei Investments Co. now owns 158,568 shares of the medical equipment provider’s stock worth $5,951,000 after acquiring an additional 20,192 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in shares of Smith & Nephew by 13.4% during the 2nd quarter. Eqis Capital Management Inc. now owns 70,251 shares of the medical equipment provider’s stock worth $2,637,000 after acquiring an additional 8,307 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Smith & Nephew by 38.3% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 96,270 shares of the medical equipment provider’s stock worth $3,613,000 after acquiring an additional 26,652 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Smith & Nephew by 10.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 64,785 shares of the medical equipment provider’s stock worth $2,431,000 after acquiring an additional 6,258 shares in the last quarter. 8.53% of the stock is currently owned by institutional investors.
About Smith & Nephew
Smith & Nephew plc designs, develops, and sells medical devices worldwide. The company offers sports medicine joint repair products for surgeons, including an array of instruments, technologies, and implants necessary to perform minimally invasive surgery of the joints, such as the repair of soft tissue injuries and degenerative conditions of the knee, hip, and shoulder.
Further Reading: Dollar Cost Averaging
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Smith & Nephew Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smith & Nephew and related companies with MarketBeat.com's FREE daily email newsletter.