Wall Street Zen Downgrades Smith & Nephew SNATS (NYSE:SNN) to Hold

Smith & Nephew SNATS (NYSE:SNN) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

SNN has been the topic of a number of other reports. Barclays downgraded Smith & Nephew SNATS from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, August 5th. Morgan Stanley cut Smith & Nephew SNATS from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Smith & Nephew SNATS in a research note on Thursday, August 6th. The Goldman Sachs Group reiterated a “buy” rating on shares of Smith & Nephew SNATS in a research report on Monday, May 25th. Finally, Weiss Ratings cut shares of Smith & Nephew SNATS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $30.93.

Smith & Nephew SNATS Price Performance

Shares of NYSE SNN opened at $28.91 on Friday. The company has a quick ratio of 1.11, a current ratio of 2.14 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average price of $30.11 and a 200 day moving average price of $31.42. Smith & Nephew SNATS has a 1-year low of $28.48 and a 1-year high of $38.79.

Hedge Funds Weigh In On Smith & Nephew SNATS

A number of large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Smith & Nephew SNATS during the 2nd quarter valued at $505,323,000. Bank of America Corp DE acquired a new stake in Smith & Nephew SNATS in the 2nd quarter valued at $97,223,000. Bank of New York Mellon Corp acquired a new stake in Smith & Nephew SNATS in the 2nd quarter valued at $89,325,000. Caisse de depot et placement du Quebec acquired a new stake in Smith & Nephew SNATS in the 2nd quarter valued at $64,186,000. Finally, Goldman Sachs Group Inc. raised its position in Smith & Nephew SNATS by 49.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,771,401 shares of the medical equipment provider’s stock valued at $50,255,000 after purchasing an additional 583,809 shares during the period. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

Smith & Nephew SNATS Company Profile

Smith & Nephew plc is a global medical technology company specializing in the design, development and manufacture of advanced surgical devices, orthopaedic reconstruction implants, trauma and extremities products, sports medicine solutions and wound care therapies. Founded in 1856 in Hull, United Kingdom, the company has grown through both organic innovation and strategic acquisitions to offer a broad portfolio that addresses patient needs across joint replacement, minimally invasive surgery and wound healing.

In its orthopaedics business, Smith & Nephew provides hip and knee replacement systems, modular joint revision implants and biologic solutions for bone repair.