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

Key Points

• Wall Street Zen downgraded Smith & Nephew SNATS from “buy” to “hold,” adding to mixed analyst sentiment. The stock has an overall “Hold” consensus, with two Buy, six Hold, and two Sell ratings, and a consensus price target of $30.93.
• SNN shares opened at $29.84, below their 50-day moving average of $30.45 and 200-day moving average of $32.02. The stock has traded between $28.56 and $38.79 over the past year.
• Institutional ownership stands at 25.64%, with major investors including BlackRock, Bank of New York Mellon, and Caisse de dépôt et placement du Québec establishing new positions during the reported periods.

Smith & Nephew SNATS (NYSE:SNN - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Sunday.

Several other equities analysts have also issued reports on SNN. Weiss Ratings lowered Smith & Nephew SNATS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 11th. Barclays lowered shares of Smith & Nephew SNATS from an "equal weight" rating to an "underweight" rating in a research note on Wednesday, August 5th. Morgan Stanley restated an "overweight" rating on shares of Smith & Nephew SNATS in a report on Wednesday, August 5th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Smith & Nephew SNATS in a research note on Monday, May 25th. Finally, Kepler Capital Markets lowered shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a report on Thursday, June 4th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $30.93.

Smith & Nephew SNATS Stock Performance

Shares of SNN stock opened at $29.84 on Friday. The stock's fifty day simple moving average is $30.45 and its 200 day simple moving average is $32.02. The company has a quick ratio of 1.11, a current ratio of 2.14 and a debt-to-equity ratio of 0.62. Smith & Nephew SNATS has a one year low of $28.56 and a one year high of $38.79.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Smith & Nephew SNATS in the second quarter valued at $505,323,000. Bank of New York Mellon Corp bought a new stake in Smith & Nephew SNATS during the 2nd quarter worth about $89,325,000. Caisse de depot et placement du Quebec bought a new stake in Smith & Nephew SNATS during the 2nd quarter worth about $64,186,000. Goldman Sachs Group Inc. lifted its position in Smith & Nephew SNATS by 49.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,771,401 shares of the medical equipment provider's stock worth $50,255,000 after buying an additional 583,809 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Smith & Nephew SNATS by 139.9% during the 3rd quarter. Bank of America Corp DE now owns 987,274 shares of the medical equipment provider's stock worth $35,828,000 after buying an additional 575,666 shares during the last quarter. Institutional investors and hedge funds own 25.64% of the company's stock.

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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