Zacks Investment Research upgraded shares of Smith & Nephew (NYSE:SNN) from a sell rating to a hold rating in a research note issued to investors on Friday.
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 “
Other equities research analysts have also issued research reports about the company. UBS Group lowered Smith & Nephew from a buy rating to a neutral rating in a research report on Wednesday, August 8th. Canaccord Genuity restated a buy rating and issued a $42.00 price objective on shares of Smith & Nephew in a research report on Monday, August 6th. Finally, HSBC lowered Smith & Nephew from a buy rating to a hold rating in a research report on Tuesday, October 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $41.00.
NYSE SNN traded up $0.06 during trading hours on Friday, reaching $36.27. The stock had a trading volume of 4,930 shares, compared to its average volume of 647,579. The firm has a market cap of $15.84 billion, a P/E ratio of 19.11, a P/E/G ratio of 2.98 and a beta of 0.58. Smith & Nephew has a 52-week low of $32.22 and a 52-week high of $39.85. The company has a quick ratio of 1.05, a current ratio of 2.13 and a debt-to-equity ratio of 0.31.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Checchi Capital Advisers LLC purchased a new position in shares of Smith & Nephew during the 2nd quarter worth $204,000. Capital Fund Management S.A. purchased a new position in shares of Smith & Nephew during the 2nd quarter worth $210,000. Avestar Capital LLC grew its holdings in shares of Smith & Nephew by 25.8% during the 3rd quarter. Avestar Capital LLC now owns 7,910 shares of the medical equipment provider’s stock worth $276,000 after purchasing an additional 1,623 shares during the period. Alps Advisors Inc. purchased a new position in shares of Smith & Nephew during the 2nd quarter worth $302,000. Finally, SG Americas Securities LLC purchased a new position in shares of Smith & Nephew during the 2nd quarter worth $372,000. 8.53% of the stock is owned by hedge funds and other institutional investors.
Smith & Nephew Company Profile
Smith & Nephew plc designs, develops, and sells medical devices worldwide. The company offers sports medicine joint repair products for surgeons, including an array of instruments, technologies, and implants necessary to perform minimally invasive surgery of the joints, such as the repair of soft tissue injuries and degenerative conditions of the knee, hip, and shoulder.
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