Smith & Nephew SNATS (NYSE:SNN) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Smith & Nephew SNATS from “strong sell” to “hold,” bringing the overall analyst consensus to “hold.” The consensus price target is $30.93.
• The stock opened at $27.77, near its 12-month low of $27.56 and below its 50-day and 200-day moving averages of $30.04 and $31.25, respectively.
• Institutional investors and hedge funds own 25.64% of the company, with several firms recently initiating or increasing positions in the medical technology provider.

Smith & Nephew SNATS (NYSE:SNN - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Tuesday, Zacks reports.

SNN has been the subject of several other reports. Weiss Ratings raised Smith & Nephew SNATS from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, September 4th. Canaccord Genuity Group lowered their target price on Smith & Nephew SNATS from $32.00 to $30.00 and set a "hold" rating on the stock in a research note on Monday, May 11th. Bank of America cut Smith & Nephew SNATS from a "buy" rating to a "neutral" rating in a research report on Tuesday. BTIG Research started coverage on Smith & Nephew SNATS in a research note on Monday, August 31st. They set a "neutral" rating for the company. Finally, Wall Street Zen lowered Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a report on Saturday, September 5th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $30.93.

Smith & Nephew SNATS Price Performance

Smith & Nephew SNATS stock opened at $27.77 on Tuesday. The firm has a 50 day moving average price of $30.04 and a 200-day moving average price of $31.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.14 and a quick ratio of 1.11. Smith & Nephew SNATS has a twelve month low of $27.56 and a twelve month high of $38.59.

Institutional Investors Weigh In On Smith & Nephew SNATS

A number of institutional investors and hedge funds have recently modified their holdings of the company. Clearstead Trust LLC bought a new position in Smith & Nephew SNATS in the 2nd quarter valued at $25,000. Addison Advisors LLC bought a new stake in Smith & Nephew SNATS during the second quarter valued at $43,000. Allworth Financial LP bought a new stake in Smith & Nephew SNATS during the second quarter valued at $48,000. 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 in the last quarter. Finally, Advisors Asset Management Inc. purchased a new position in Smith & Nephew SNATS during the fourth quarter worth about $36,000. 25.64% of the stock is owned by hedge funds and other institutional investors.

About Smith & Nephew SNATS

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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