Smith & Nephew (NYSE:SNN) was downgraded by Zacks Investment Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Friday, Zacks.com reports.
According to Zacks, "Smith & Nephew is a global medical device company. The company markets clinically superior products, principally in orthopaedics, endoscopy and wound management to deliver cost-effective solutions, significant physician advantage and real patient benefits. A continuous process of supplying new and innovative products is supported by substantial R&D investment to deliver new levels of healing to patients throughout the world "
A number of other analysts have also weighed in on the stock. Barclays reaffirmed an "overweight" rating on shares of Smith & Nephew in a report on Thursday, January 21st. Commerzbank downgraded Smith & Nephew from a "buy" rating to a "hold" rating in a research report on Monday. Canaccord Genuity reduced their target price on Smith & Nephew from $55.00 to $53.00 and set a "buy" rating for the company in a research report on Friday, February 19th. JPMorgan Chase & Co. restated a "neutral" rating on shares of Smith & Nephew in a research note on Monday. Finally, Credit Suisse Group reiterated a "neutral" rating on shares of Smith & Nephew in a research report on Monday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company's stock. The stock currently has a consensus rating of "Hold" and a consensus price target of $47.17.
SNN stock opened at $39.64 on Friday. The company has a quick ratio of 1.04, a current ratio of 2.18 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $17.38 billion, a PE ratio of 19.43, a PEG ratio of 4.91 and a beta of 0.70. Smith & Nephew has a twelve month low of $26.07 and a twelve month high of $48.17. The stock has a 50-day simple moving average of $43.31 and a two-hundred day simple moving average of $40.70.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Asset Advisory Services LLC lifted its position in Smith & Nephew by 3.8% in the 3rd quarter. Capital Asset Advisory Services LLC now owns 8,053 shares of the medical equipment provider's stock worth $315,000 after buying an additional 292 shares during the last quarter. JJJ Advisors Inc. lifted its holdings in shares of Smith & Nephew by 83.0% in the 4th quarter. JJJ Advisors Inc. now owns 666 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 302 shares during the last quarter. Comerica Bank boosted its stake in shares of Smith & Nephew by 1.2% in the 4th quarter. Comerica Bank now owns 32,911 shares of the medical equipment provider's stock valued at $1,493,000 after purchasing an additional 388 shares in the last quarter. Colony Group LLC grew its holdings in shares of Smith & Nephew by 6.7% during the 4th quarter. Colony Group LLC now owns 6,860 shares of the medical equipment provider's stock valued at $289,000 after purchasing an additional 429 shares during the last quarter. Finally, JustInvest LLC grew its holdings in shares of Smith & Nephew by 6.0% during the 4th quarter. JustInvest LLC now owns 7,743 shares of the medical equipment provider's stock valued at $327,000 after purchasing an additional 436 shares during the last quarter. 8.91% of the stock is currently owned by institutional investors.
Smith & Nephew Company Profile
Smith & Nephew plc develops, manufactures, and sells medical devices worldwide. The company offers knee implant products for specialized knee replacement procedures; hip implants for the reconstruction of hip joints; and trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures.
Recommended Story: Treasury Bonds
Get a free copy of the Zacks research report on Smith & Nephew (SNN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
10 Cheap Dividend Stocks to Buy Today
While COVID-19 was a sucker-punch to the stock market earlier in the year, the stock market is roaring back. The Dow now over 30,000, and the S&P 500 is trading above 3,700. S&P 500 stocks are trading at nearly 23 times their annual earnings, still well above historical norms.
At the same time, interest rates are near all-time lows (and probably dipping even lower). 10-year Treasuries are yielding just 0.9%, and collectively S&P 500 stocks are yielding under 2%. Some investors think that it's too challenging to find safe and affordable securities that pay 4%, 5%, and even 6% yields.
Searching for yield isn't easy in an environment where historically high asset prices and stimulus from the Fed have driven down yields. This doesn't leave many options for investors looking for retirement income or a decent dividend yield on their stocks, but there are a handful of cheap dividend stocks to buy that are still yielding 3-6%.
Let's review some of the best cheap dividend stocks in the market today in this slideshow.
View the "10 Cheap Dividend Stocks to Buy Today".
