Smith & Nephew SNATS (NYSE:SNN) Downgraded to "Equal Weight" Rating by Morgan Stanley

Key Points

• Morgan Stanley downgraded Smith & Nephew SNATS from “overweight” to “equal weight,” while the broader analyst consensus stands at “Reduce” with a $30.93 target price.
• The stock opened at $28.98, near its 12-month low of $28.56 and below its 50-day and 200-day moving averages of $30.20 and $31.57, respectively.
• Institutional investors and hedge funds own 25.64% of the company, with several firms recently increasing their stakes.

Smith & Nephew SNATS (NYSE:SNN - Get Free Report) was downgraded by equities research analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating in a report released on Wednesday, MarketBeat Ratings reports.

SNN has been the topic of a number of other research reports. The Goldman Sachs Group reissued a "buy" rating on shares of Smith & Nephew SNATS in a report on Monday, May 25th. Wall Street Zen raised shares of Smith & Nephew SNATS from a "hold" rating to a "buy" rating in a research note on Monday, August 24th. Kepler Capital Markets downgraded shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a report on Thursday, June 4th. Barclays cut shares of Smith & Nephew SNATS from an "equal weight" rating to an "underweight" rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings downgraded shares of Smith & Nephew SNATS from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 11th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $30.93.

Smith & Nephew SNATS Stock Up 0.8%

Shares of Smith & Nephew SNATS stock opened at $28.98 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 2.14 and a debt-to-equity ratio of 0.62. Smith & Nephew SNATS has a 12 month low of $28.56 and a 12 month high of $38.79. The firm's fifty day simple moving average is $30.20 and its 200-day simple moving average is $31.57.

Institutional Trading of Smith & Nephew SNATS

Several large investors have recently bought and sold shares of the company. Equity Investment Corp raised its stake in shares of Smith & Nephew SNATS by 3.9% during the 4th quarter. Equity Investment Corp now owns 7,502 shares of the medical equipment provider's stock worth $246,000 after buying an additional 285 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Smith & Nephew SNATS by 13.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,820 shares of the medical equipment provider's stock valued at $93,000 after acquiring an additional 334 shares during the last quarter. Cary Street Partners Financial LLC increased its holdings in Smith & Nephew SNATS by 1.8% during the 4th quarter. Cary Street Partners Financial LLC now owns 20,255 shares of the medical equipment provider's stock valued at $665,000 after acquiring an additional 365 shares in the last quarter. Parallel Advisors LLC increased its holdings in Smith & Nephew SNATS by 20.0% during the 1st quarter. Parallel Advisors LLC now owns 2,322 shares of the medical equipment provider's stock valued at $74,000 after acquiring an additional 387 shares in the last quarter. Finally, Clearstead Trust LLC acquired a new position in Smith & Nephew SNATS during the second quarter worth about $25,000. Institutional investors and hedge funds 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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