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

Key Points

• Smith & Nephew SNATS (NYSE:SNN) has been downgraded by Wall Street Zen from a "strong-buy" to a "buy" rating in a recently issued research report.
• The average price target for Smith & Nephew SNATS is now $36.00, with several analysts recently giving the stock a "hold" rating.
• Shares of Smith & Nephew SNATS are currently priced at approximately $37.53, reflecting a 1.5% increase.

Smith & Nephew SNATS (NYSE:SNN - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Friday.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity Group lifted their target price on Smith & Nephew SNATS from $28.00 to $36.00 and gave the company a "hold" rating in a research note on Monday, August 18th. HSBC lowered Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Finally, Hsbc Global Res downgraded shares of Smith & Nephew SNATS from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Six analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Smith & Nephew SNATS has an average rating of "Hold" and an average price target of $36.00.

Smith & Nephew SNATS Stock Up 1.5%

Shares of SNN opened at $37.5330 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 3.00. The company has a 50-day simple moving average of $31.96 and a 200-day simple moving average of $29.22. Smith & Nephew SNATS has a 52 week low of $23.69 and a 52 week high of $37.58. The firm has a market capitalization of $16.44 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.02 and a beta of 0.68.

Hedge Funds Weigh In On Smith & Nephew SNATS

A number of hedge funds have recently added to or reduced their stakes in SNN. Hexagon Capital Partners LLC lifted its position in shares of Smith & Nephew SNATS by 63.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,047 shares of the medical equipment provider's stock valued at $30,000 after acquiring an additional 406 shares during the period. Richards Merrill & Peterson Inc. raised its stake in Smith & Nephew SNATS by 500.0% in the first quarter. Richards Merrill & Peterson Inc. now owns 1,200 shares of the medical equipment provider's stock valued at $34,000 after purchasing an additional 1,000 shares in the last quarter. AlphaCore Capital LLC bought a new stake in Smith & Nephew SNATS during the second quarter worth about $44,000. Bessemer Group Inc. grew its stake in Smith & Nephew SNATS by 3,471.4% during the first quarter. Bessemer Group Inc. now owns 1,750 shares of the medical equipment provider's stock worth $49,000 after buying an additional 1,701 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new stake in Smith & Nephew SNATS during the first quarter worth about $52,000. Institutional investors own 25.64% of the company's stock.

About Smith & Nephew SNATS

Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT.

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