Smith & Nephew SNATS (NYSE:SNN) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Key Points

• Canaccord Genuity Group has raised Smith & Nephew SNATS' price target from $28.00 to $36.00, while maintaining a "hold" rating on the stock.
• HSBC has downgraded the company from a "buy" rating to "hold," and the consensus rating among analysts remains a "Hold" with the average price target also at $36.00.
• The stock currently has a market capitalization of $15.85 billion and is trading down by 1.1% at about $36.20.

Smith & Nephew SNATS (NYSE:SNN - Get Free Report) had its price objective increased by equities research analysts at Canaccord Genuity Group from $28.00 to $36.00 in a report released on Monday, Marketbeat reports. The firm presently has a "hold" rating on the medical equipment provider's stock. Canaccord Genuity Group's price target indicates a potential downside of 2.25% from the stock's current price.

A number of other analysts have also weighed in on SNN. HSBC lowered shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a report on Friday, April 25th. Hsbc Global Res lowered shares of Smith & Nephew SNATS from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Six equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $36.00.

Smith & Nephew SNATS Stock Performance

Shares of SNN traded up $0.54 during trading hours on Monday, hitting $36.83. The company's stock had a trading volume of 150,315 shares, compared to its average volume of 892,203. The company has a market cap of $16.13 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 1.00 and a beta of 0.68. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.00 and a quick ratio of 1.40. The business has a 50 day simple moving average of $31.37 and a two-hundred day simple moving average of $28.94. Smith & Nephew SNATS has a 52-week low of $23.69 and a 52-week high of $36.84.

Institutional Investors Weigh In On Smith & Nephew SNATS

Institutional investors have recently made changes to their positions in the business. Hexagon Capital Partners LLC boosted its stake in shares of Smith & Nephew SNATS by 63.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,047 shares of the medical equipment provider's stock valued at $30,000 after purchasing an additional 406 shares in the last quarter. Richards Merrill & Peterson Inc. boosted its stake in shares of Smith & Nephew SNATS by 500.0% in the 1st 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 purchased a new stake in shares of Smith & Nephew SNATS in the 2nd quarter valued at $44,000. Bessemer Group Inc. boosted its stake in shares of Smith & Nephew SNATS by 3,471.4% in the 1st quarter. Bessemer Group Inc. now owns 1,750 shares of the medical equipment provider's stock valued at $49,000 after purchasing an additional 1,701 shares in the last quarter. Finally, Banque Transatlantique SA purchased a new stake in shares of Smith & Nephew SNATS in the 1st quarter valued at $52,000. Hedge funds and other institutional investors own 25.64% of the company's stock.

Smith & Nephew SNATS Company Profile

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.