Smith & Nephew SNATS (NYSE:SNN) Lowered to Buy Rating by Wall Street Zen

Key Points

• Smith & Nephew SNATS has been downgraded from a "strong-buy" rating to a "buy" rating by Wall Street Zen amid mixed analyst sentiments.
• Analysts have set an average target price of $36.00 for Smith & Nephew SNATS, with several firms maintaining a "hold" rating.
• Recent institutional trading shows a significant increase in holdings, with Bank of Montreal Can raising its stake by 321.6% in the latest quarter.

Smith & Nephew SNATS (NYSE:SNN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Friday.

Several other research analysts have also recently weighed in on SNN. Weiss Ratings reiterated a "hold (c+)" rating on shares of Smith & Nephew SNATS in a research note on Saturday, September 27th. Canaccord Genuity Group lifted their price target on shares of Smith & Nephew SNATS from $28.00 to $36.00 and gave the stock a "hold" rating in a research note on Monday, August 18th. Seven investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $36.00.

Smith & Nephew SNATS Stock Performance

Shares of Smith & Nephew SNATS stock traded down $0.11 on Friday, hitting $36.34. 459,367 shares of the company's stock were exchanged, compared to its average volume of 744,254. The company has a 50-day simple moving average of $36.16 and a 200-day simple moving average of $31.19. The stock has a market capitalization of $15.83 billion, a PE ratio of 16.83, a PEG ratio of 1.00 and a beta of 0.69. Smith & Nephew SNATS has a 1 year low of $23.69 and a 1 year high of $38.79. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 3.00.

Institutional Trading of Smith & Nephew SNATS

A number of institutional investors and hedge funds have recently bought and sold shares of SNN. Bank of Montreal Can increased its holdings in Smith & Nephew SNATS by 321.6% in the 2nd quarter. Bank of Montreal Can now owns 3,429,829 shares of the medical equipment provider's stock valued at $105,056,000 after acquiring an additional 2,616,301 shares during the last quarter. Armistice Capital LLC increased its holdings in Smith & Nephew SNATS by 258.1% in the 1st quarter. Armistice Capital LLC now owns 1,769,000 shares of the medical equipment provider's stock valued at $50,187,000 after acquiring an additional 1,275,000 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Smith & Nephew SNATS by 6,663.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,210,655 shares of the medical equipment provider's stock valued at $37,082,000 after acquiring an additional 1,192,755 shares during the last quarter. ABC Arbitrage SA increased its holdings in Smith & Nephew SNATS by 1,063.4% in the 2nd quarter. ABC Arbitrage SA now owns 898,635 shares of the medical equipment provider's stock valued at $27,525,000 after acquiring an additional 821,393 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Smith & Nephew SNATS by 49.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,771,401 shares of the medical equipment provider's stock valued at $50,255,000 after acquiring an additional 583,809 shares during the last quarter. 25.64% of the stock is currently owned by institutional investors.

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.

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