Smith & Nephew SNATS's (SNN) "Neutral" Rating Reaffirmed at JPMorgan Chase & Co.

Key Points

• JPMorgan reaffirmed its “neutral” rating on Smith & Nephew SNATS (SNN), while analysts overall maintain a “Hold” consensus and an average price target of $30.93.
• SNN shares opened at $30.14, compared with a 50-day moving average of $30.45 and a 200-day moving average of $32.16; its 12-month trading range is $28.56–$38.79.
• 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)'s stock had its "neutral" rating restated by JPMorgan Chase & Co. in a research report issued on Thursday,Benzinga reports.

A number of other equities research analysts also recently weighed in on the company. Sanford C. Bernstein set a $31.85 price objective on Smith & Nephew SNATS in a report on Monday, May 11th. The Goldman Sachs Group restated a "buy" rating on shares of Smith & Nephew SNATS in a research report on Monday, May 25th. Morgan Stanley reaffirmed an "overweight" rating on shares of Smith & Nephew SNATS in a research note on Wednesday. Wall Street Zen upgraded Smith & Nephew SNATS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 4th. Finally, Kepler Capital Markets cut Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a report on Thursday, June 4th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $30.93.

Smith & Nephew SNATS Price Performance

Shares of Smith & Nephew SNATS stock opened at $30.14 on Thursday. The company has a current ratio of 2.57, a quick ratio of 1.25 and a debt-to-equity ratio of 0.60. The firm's 50-day simple moving average is $30.45 and its 200-day simple moving average is $32.16. Smith & Nephew SNATS has a twelve month low of $28.56 and a twelve month high of $38.79.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SNN. Garner Asset Management Corp acquired a new position in Smith & Nephew SNATS during the 4th quarter valued at about $27,000. Arax Advisory Partners lifted its stake in Smith & Nephew SNATS by 142.6% in the fourth 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 during the period. Advisors Asset Management Inc. acquired a new position in Smith & Nephew SNATS in the fourth quarter valued at about $36,000. Caitong International Asset Management Co. Ltd bought a new position in Smith & Nephew SNATS during the 3rd quarter worth approximately $41,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Smith & Nephew SNATS in the fourth quarter worth $43,000. 25.64% of the stock is currently owned by institutional investors.

About Smith & Nephew SNATS

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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