Wall Street Zen Upgrades Smith & Nephew SNATS (NYSE:SNN) to "Buy"

Key Points

• Wall Street Zen upgraded Smith & Nephew SNATS to “Buy” from “Hold,” although the broader analyst consensus remains “Hold,” with one Buy, ten Holds, and one Sell rating.
• Shares opened at $27.50, near the company’s 12-month low of $27.23 and below the $31.91 consensus price target.
• Institutional investors increased exposure, with BlackRock, Bank of America, Bank of New York Mellon, and Caisse de dépôt et placement du Québec establishing new positions; institutions own 25.64% of the stock.

Smith & Nephew SNATS (NYSE:SNN - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Sunday, Wall Street Zen reports.

A number of other equities analysts have also recently commented on the stock. Kepler Capital Markets cut shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research note on Thursday, June 4th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Smith & Nephew SNATS in a report on Monday, May 25th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Smith & Nephew SNATS in a research report on Thursday, August 6th. Berenberg Bank set a $33.88 target price on Smith & Nephew SNATS in a research note on Friday. Finally, Barclays downgraded Smith & Nephew SNATS from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $31.91.

Smith & Nephew SNATS Stock Performance

Shares of NYSE SNN opened at $27.50 on Friday. Smith & Nephew SNATS has a 12 month low of $27.23 and a 12 month high of $38.44. 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 business has a 50-day moving average of $29.94 and a 200-day moving average of $31.17.

Institutional Investors Weigh In On Smith & Nephew SNATS

A number of hedge funds and other institutional investors have recently modified their holdings of SNN. BlackRock Inc. bought a new position in Smith & Nephew SNATS during the 2nd quarter worth approximately $505,323,000. Bank of America Corp DE bought a new position in shares of Smith & Nephew SNATS in the second quarter worth approximately $97,223,000. Bank of New York Mellon Corp bought a new position in shares of Smith & Nephew SNATS in the second quarter worth approximately $89,325,000. Caisse de depot et placement du Quebec purchased a new position in shares of Smith & Nephew SNATS in the second quarter worth $64,186,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of 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 worth $50,255,000 after buying an additional 583,809 shares during the period. Institutional investors own 25.64% of the company's stock.

About Smith & Nephew SNATS

Smith & Nephew plc is a global medical technology company headquartered in the United Kingdom. Founded in 1856 by Thomas James Smith in Hull, the company initially operated as a pharmacy business before expanding into healthcare products and medical devices.

The company develops and manufactures technologies used in orthopaedic reconstruction, sports medicine, and advanced wound management. Its products include joint replacement systems, trauma and extremities devices, arthroscopic equipment, surgical repair technologies, wound dressings, negative-pressure wound therapy systems, and other products designed to support tissue healing and surgical care.

Smith & Nephew serves hospitals, healthcare professionals, and patients in markets around the world.

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