Weiss Ratings Reiterates Hold (C+) Rating for Smith & Nephew SNATS (NYSE:SNN)

Key Points

• Weiss Ratings has reaffirmed a "hold (C+)" rating for Smith & Nephew SNATS (NYSE:SNN) as of Wednesday, indicating a cautious outlook on the stock.
• The average price target for Smith & Nephew SNATS is $36.00, with several analysts rating it a "hold" and one analyst downgrading it from "strong-buy" to "buy".
• Smith & Nephew SNATS shares saw a 0.6% increase, trading at $35.93, with significant institutional investment as 25.64% of stocks are held by hedge funds and other institutional investors.

Smith & Nephew SNATS (NYSE:SNN - Get Free Report)'s stock had its "hold (c+)" rating restated by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Smith & Nephew SNATS from a "strong-buy" rating to a "buy" rating in a research report on Friday, October 3rd. Canaccord Genuity Group lifted their target price on shares of Smith & Nephew SNATS from $28.00 to $36.00 and gave the stock a "hold" rating in a research report on Monday, August 18th. Seven investment analysts have rated the stock with a Hold rating, According to MarketBeat, Smith & Nephew SNATS has an average rating of "Hold" and an average target price of $36.00.

Smith & Nephew SNATS Stock Up 0.6%

Shares of SNN stock traded up $0.20 during trading hours on Wednesday, reaching $35.93. 427,108 shares of the company's stock were exchanged, compared to its average volume of 666,709. The company has a current ratio of 3.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60. The stock's 50 day moving average is $36.44 and its 200-day moving average is $31.35. Smith & Nephew SNATS has a fifty-two week low of $23.69 and a fifty-two week high of $38.79. The company has a market cap of $15.65 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 0.98 and a beta of 0.69.

Institutional Investors Weigh In On Smith & Nephew SNATS

A number of hedge funds have recently made changes to their positions in SNN. Hexagon Capital Partners LLC grew its holdings in Smith & Nephew SNATS by 63.3% in the first quarter. Hexagon Capital Partners LLC now owns 1,047 shares of the medical equipment provider's stock valued at $30,000 after purchasing an additional 406 shares during the period. Richards Merrill & Peterson Inc. grew its holdings in Smith & Nephew SNATS by 500.0% during the 1st quarter. Richards Merrill & Peterson Inc. now owns 1,200 shares of the medical equipment provider's stock valued at $34,000 after buying an additional 1,000 shares during the last quarter. AlphaCore Capital LLC acquired a new position in Smith & Nephew SNATS in the second quarter valued at $44,000. Bessemer Group Inc. lifted its holdings in Smith & Nephew SNATS by 3,471.4% in the 1st quarter. Bessemer Group Inc. now owns 1,750 shares of the medical equipment provider's stock worth $49,000 after buying an additional 1,701 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new stake in shares of Smith & Nephew SNATS during the 1st quarter worth approximately $52,000. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

About Smith & Nephew SNATS

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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