Smith & Nephew (NYSE:SNN) Stock Rating Lowered by Zacks Investment Research

Smith & Nephew (NYSE:SNN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday, Zacks.com reports.

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 “

Separately, Canaccord Genuity reissued a “buy” rating and issued a $10.00 price objective on shares of Smith & Nephew in a report on Monday, April 8th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Smith & Nephew has a consensus rating of “Hold” and an average price target of $26.50.

Shares of SNN stock traded up $0.38 on Friday, hitting $43.54. The company had a trading volume of 436,797 shares, compared to its average volume of 394,998. The stock has a market capitalization of $18.88 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 3.15 and a beta of 0.28. The company’s 50-day simple moving average is $42.71. The company has a current ratio of 2.10, a quick ratio of 1.15 and a debt-to-equity ratio of 0.27. Smith & Nephew has a twelve month low of $32.22 and a twelve month high of $44.07.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in Smith & Nephew by 640.8% in the 1st quarter. FMR LLC now owns 1,341,034 shares of the medical equipment provider’s stock worth $53,788,000 after purchasing an additional 1,160,015 shares during the period. Foresters Investment Management Company Inc. raised its holdings in Smith & Nephew by 49.3% in the 4th quarter. Foresters Investment Management Company Inc. now owns 840,850 shares of the medical equipment provider’s stock worth $31,431,000 after purchasing an additional 277,750 shares during the period. Northern Trust Corp raised its holdings in Smith & Nephew by 1.1% in the 4th quarter. Northern Trust Corp now owns 717,704 shares of the medical equipment provider’s stock worth $26,828,000 after purchasing an additional 7,635 shares during the period. Nicholas Company Inc. raised its holdings in Smith & Nephew by 6.1% in the 4th quarter. Nicholas Company Inc. now owns 461,805 shares of the medical equipment provider’s stock worth $17,262,000 after purchasing an additional 26,460 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its holdings in Smith & Nephew by 506.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 391,860 shares of the medical equipment provider’s stock worth $14,648,000 after purchasing an additional 327,276 shares during the period. 8.69% of the stock is owned by institutional investors.

About Smith & Nephew

Smith & Nephew plc develops, manufactures, 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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