Smith & Nephew (NYSE:SNN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Smith & Nephew is a global medical device company. The company markets clinically superior products, principally in orthopaedics, endoscopy and wound management to deliver cost-effective solutions, significant physician advantage and real patient benefits. A continuous process of supplying new and innovative products is supported by substantial R&D investment to deliver new levels of healing to patients throughout the world “
SNN has been the topic of a number of other reports. HSBC raised Smith & Nephew from a “hold” rating to a “buy” rating in a research report on Monday, March 26th. Canaccord Genuity reaffirmed a “buy” rating and set a $45.00 price objective on shares of Smith & Nephew in a research report on Friday, January 5th. JPMorgan Chase raised Smith & Nephew from a “neutral” rating to an “overweight” rating in a research report on Thursday, January 25th. Finally, ValuEngine cut Smith & Nephew from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $43.50.
Shares of SNN stock traded up $0.24 during trading hours on Tuesday, reaching $38.40. 254,682 shares of the company traded hands, compared to its average volume of 782,444. Smith & Nephew has a 12-month low of $31.77 and a 12-month high of $40.43. The company has a quick ratio of 1.06, a current ratio of 2.03 and a debt-to-equity ratio of 0.31. The stock has a market cap of $16,724.57, a P/E ratio of 20.21, a PEG ratio of 2.21 and a beta of 0.62.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. raised its stake in Smith & Nephew by 15.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 82,989 shares of the medical equipment provider’s stock valued at $2,905,000 after purchasing an additional 10,804 shares during the period. Elkfork Partners LLC bought a new stake in Smith & Nephew during the 4th quarter valued at approximately $448,000. Envestnet Asset Management Inc. raised its stake in Smith & Nephew by 29.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 240,133 shares of the medical equipment provider’s stock valued at $8,407,000 after purchasing an additional 54,209 shares during the period. Glenmede Trust Co. NA raised its stake in Smith & Nephew by 0.7% during the 4th quarter. Glenmede Trust Co. NA now owns 801,768 shares of the medical equipment provider’s stock valued at $28,069,000 after purchasing an additional 5,407 shares during the period. Finally, PEAK6 Investments L.P. bought a new stake in Smith & Nephew during the 4th quarter valued at approximately $784,000. 6.89% of the stock is currently owned by institutional investors.
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About Smith & Nephew
Smith & Nephew plc is a medical technology company. The Company is engaged in developing, manufacturing, marketing and selling medical devices and services. Its products and services include Sports Medicine Joint Repair, Arthroscopic Enabling Technologies (AET), Trauma & Extremities, Other Surgical Businesses, Knee Implants, Hip Implants, Advanced Wound Care, Advanced Wound Bioactives and Advanced Wound Devices.
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