Smith & Nephew SNATS (NYSE:SNN) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded Smith & Nephew SNATS (NYSE:SNN) from “Buy” to “Hold,” adding to a generally cautious analyst outlook.
• Analyst coverage currently averages a “Reduce” rating, with one Buy, eight Holds and two Sells; the average price target is $30.93.
• SNN opened at $28.91, near its one-year low of $28.48 and below its 50-day and 200-day moving averages of $30.11 and $31.45, respectively.

Smith & Nephew SNATS (NYSE:SNN - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

SNN has been the topic of a number of other reports. Kepler Capital Markets lowered shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research report on Thursday, June 4th. Canaccord Genuity Group cut their price objective on shares of Smith & Nephew SNATS from $32.00 to $30.00 and set a "hold" rating for the company in a research report on Monday, May 11th. 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. Barclays downgraded shares of Smith & Nephew SNATS from an "equal weight" rating to an "underweight" rating in a report on Wednesday, August 5th. Finally, Zacks Research lowered shares of Smith & Nephew SNATS from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $30.93.

Smith & Nephew SNATS Stock Performance

SNN opened at $28.91 on Friday. The business's 50-day simple moving average is $30.11 and its 200-day simple moving average is $31.45. The company has a current ratio of 2.14, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. Smith & Nephew SNATS has a one year low of $28.48 and a one year high of $38.79.

Hedge Funds Weigh In On Smith & Nephew SNATS

A number of large investors have recently made changes to their positions in the stock. Clearstead Trust LLC purchased a new stake in Smith & Nephew SNATS during the second quarter worth about $25,000. Arax Advisory Partners grew its position in Smith & Nephew SNATS by 142.6% during the fourth quarter. Arax Advisory Partners now owns 968 shares of the medical equipment provider's stock worth $32,000 after buying an additional 569 shares during the period. Advisors Asset Management Inc. purchased a new position in Smith & Nephew SNATS in the fourth quarter valued at about $36,000. Caitong International Asset Management Co. Ltd purchased a new position in Smith & Nephew SNATS in the third quarter valued at about $41,000. Finally, Addison Advisors LLC purchased a new position in Smith & Nephew SNATS in the second quarter valued at about $43,000. 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 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.

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