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.
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