Smith & Nephew SNATS (NYSE:SNN) Cut to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded Smith & Nephew from “hold” to “strong sell.” Other analysts have also lowered ratings, and MarketBeat reports an overall “Reduce” consensus with an average price target of $31.91.
• Shares fell $0.85 to $31.16 on Thursday, with trading volume above its average; the stock’s 12-month range is $26.12 to $37.09.
• Institutional investors own 25.64% of the company’s shares. Several major firms, including BlackRock and Bank of America, established positions during the second quarter.

Smith & Nephew SNATS (NYSE:SNN - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Thursday, Zacks reports.

A number of other analysts have also recently weighed in on SNN. Bank of America cut Smith & Nephew SNATS from a "buy" rating to a "neutral" rating in a research report on Tuesday, September 8th. BTIG Research started coverage on Smith & Nephew SNATS in a research note on Monday, August 31st. They set a "neutral" rating on the stock. Berenberg Bank set a $33.88 target price on Smith & Nephew SNATS in a research report on Friday, September 11th. Morgan Stanley cut Smith & Nephew SNATS from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, September 2nd. Finally, Weiss Ratings cut Smith & Nephew SNATS from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $31.91.

Smith & Nephew SNATS Price Performance

SNN traded down $0.85 during trading on Thursday, hitting $31.16. The stock had a trading volume of 1,863,749 shares, compared to its average volume of 1,212,994. Smith & Nephew SNATS has a twelve month low of $26.12 and a twelve month high of $37.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.14 and a quick ratio of 1.11. The stock has a 50 day simple moving average of $28.50 and a two-hundred day simple moving average of $31.05.

Institutional Trading of Smith & Nephew SNATS

Several large investors have recently added to or reduced their stakes in SNN. BlackRock Inc. acquired a new position in shares of Smith & Nephew SNATS in the second quarter valued at about $505,323,000. Bank of America Corp DE purchased a new stake in Smith & Nephew SNATS in the second quarter valued at approximately $97,223,000. Bank of New York Mellon Corp purchased a new stake in Smith & Nephew SNATS in the second quarter valued at approximately $89,325,000. Caisse de depot et placement du Quebec acquired a new position in Smith & Nephew SNATS in the 2nd quarter worth approximately $64,186,000. Finally, Legal & General Group Plc acquired a new position in Smith & Nephew SNATS in the 2nd quarter worth approximately $35,338,000. Hedge funds and other institutional investors own 25.64% of the company's stock.

Smith & Nephew SNATS Company Profile

Smith & Nephew plc is a global medical technology company that develops and manufactures products used by healthcare professionals to treat injuries, manage wounds and restore patients' mobility. Founded in 1856 by Thomas James Smith in Hull, England, the company has grown from a pharmacy business into an international healthcare manufacturer.

The company operates across three principal areas: orthopaedics, sports medicine and ear, nose and throat (ENT), and advanced wound management.

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