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

Key Points

• Wall Street Zen downgraded Smith & Nephew SNATS from “strong buy” to “buy,” while other analysts issued mixed revisions, including Barclays’ downgrade to “underweight.”
• The stock opened at $30.10, near its 50-day average of $30.46 and below its 200-day average of $32.12. Analysts’ consensus rating is “Hold,” with a consensus price target of $30.93.
• Institutional investors own 25.64% of the company, with several hedge funds and asset managers recently initiating or increasing positions.

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

Several other brokerages have also issued reports on SNN. Canaccord Genuity Group dropped their target price on shares of Smith & Nephew SNATS from $32.00 to $30.00 and set a "hold" rating on the stock in a research report on Monday, May 11th. Kepler Capital Markets downgraded shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research report on Thursday, June 4th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Smith & Nephew SNATS in a research note on Monday, May 25th. Barclays cut Smith & Nephew SNATS from an "equal weight" rating to an "underweight" rating in a report on Wednesday. Finally, Weiss Ratings lowered Smith & Nephew SNATS from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, June 11th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $30.93.

Smith & Nephew SNATS Trading Up 1.4%

Smith & Nephew SNATS stock opened at $30.10 on Friday. The company's fifty day moving average price is $30.46 and its 200 day moving average price is $32.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.14 and a quick ratio of 1.25. Smith & Nephew SNATS has a 1 year low of $28.56 and a 1 year high of $38.79.

Hedge Funds Weigh In On Smith & Nephew SNATS

Hedge funds and other institutional investors have recently modified their holdings of the business. Clearstead Trust LLC purchased a new stake in Smith & Nephew SNATS during the 2nd quarter valued at about $25,000. Garner Asset Management Corp purchased a new position in Smith & Nephew SNATS during the fourth quarter worth approximately $27,000. Arax Advisory Partners grew its holdings in Smith & Nephew SNATS by 142.6% in the 4th quarter. Arax Advisory Partners now owns 968 shares of the medical equipment provider's stock valued at $32,000 after buying an additional 569 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in Smith & Nephew SNATS during the fourth quarter worth about $36,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Smith & Nephew SNATS during the 3rd quarter valued at approximately $41,000. 25.64% of the stock is owned by hedge funds and other institutional investors.

Smith & Nephew SNATS Company Profile

Smith & Nephew plc is a global medical technology company specializing in the design, development and manufacture of advanced surgical devices, orthopaedic reconstruction implants, trauma and extremities products, sports medicine solutions and wound care therapies. Founded in 1856 in Hull, United Kingdom, the company has grown through both organic innovation and strategic acquisitions to offer a broad portfolio that addresses patient needs across joint replacement, minimally invasive surgery and wound healing.

In its orthopaedics business, Smith & Nephew provides hip and knee replacement systems, modular joint revision implants and biologic solutions for bone repair.

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