Wall Street Zen Upgrades Smith & Nephew SNATS (NYSE:SNN) to Buy

Key Points

• Wall Street Zen upgraded Smith & Nephew SNATS from “hold” to “buy,” although broader analyst sentiment remains “Hold,” with two Buy, six Hold, and two Sell ratings.
• The stock opened at $29.29, near its 52-week low of $28.56 and below the average analyst price target of $30.93.
• Institutional investors and hedge funds own 25.64% of the company, with several firms recently establishing or expanding positions.

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

Several other research analysts have also recently commented on the stock. Barclays cut shares of Smith & Nephew SNATS from an "equal weight" rating to an "underweight" rating in a report on Wednesday, August 5th. Sanford C. Bernstein set a $31.85 price objective on shares of Smith & Nephew SNATS in a research report on Monday, May 11th. Zacks Research downgraded shares of Smith & Nephew SNATS from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. Morgan Stanley reissued an "overweight" rating on shares of Smith & Nephew SNATS in a report on Wednesday, August 5th. Finally, Canaccord Genuity Group cut their price target on Smith & Nephew SNATS from $32.00 to $30.00 and set a "hold" rating on the stock in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $30.93.

Smith & Nephew SNATS Stock Up 0.1%

SNN stock opened at $29.29 on Monday. The company's 50 day moving average price is $30.32 and its 200 day moving average price is $31.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 2.14. Smith & Nephew SNATS has a fifty-two week low of $28.56 and a fifty-two week high of $38.79.

Institutional Investors Weigh In On Smith & Nephew SNATS

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Clearstead Trust LLC acquired a new position in Smith & Nephew SNATS in the second quarter valued at $25,000. Addison Advisors LLC acquired a new stake in shares of Smith & Nephew SNATS during the second quarter worth about $43,000. Allworth Financial LP acquired a new stake in shares of Smith & Nephew SNATS in the 2nd quarter valued at about $48,000. Garner Asset Management Corp purchased a new position in Smith & Nephew SNATS during the 4th quarter worth approximately $27,000. Finally, Arax Advisory Partners grew its stake in Smith & Nephew SNATS by 142.6% during the 4th quarter. Arax Advisory Partners now owns 968 shares of the medical equipment provider's stock worth $32,000 after buying an additional 569 shares during the last quarter. 25.64% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source