Smith & Nephew (NYSE:SNN) Rating Lowered to Sell at Zacks Investment Research

Smith & Nephew (NYSE:SNN – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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 “

Several other research firms have also commented on SNN. Redburn Partners raised Smith & Nephew from a “sell” rating to a “neutral” rating in a research report on Friday, March 4th. UBS Group lifted their price target on Smith & Nephew from GBX 1,200 ($14.99) to GBX 1,295 ($16.18) in a research report on Friday, April 29th. StockNews.com began coverage on Smith & Nephew in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. JPMorgan Chase & Co. lifted their target price on Smith & Nephew from GBX 1,376 ($17.19) to GBX 1,442 ($18.01) in a research note on Wednesday, March 2nd. Finally, Royal Bank of Canada began coverage on Smith & Nephew in a research note on Tuesday, March 15th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Smith & Nephew has a consensus rating of “Buy” and an average price target of $928.33.

Shares of NYSE SNN opened at $32.31 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.08 and a quick ratio of 1.21. Smith & Nephew has a fifty-two week low of $30.75 and a fifty-two week high of $44.47. The stock’s 50-day simple moving average is $32.39 and its 200-day simple moving average is $33.57.

Institutional investors have recently bought and sold shares of the stock. Concord Wealth Partners boosted its stake in shares of Smith & Nephew by 239.9% in the fourth quarter. Concord Wealth Partners now owns 758 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 535 shares in the last quarter. Huntington National Bank boosted its stake in shares of Smith & Nephew by 1,434.8% in the fourth quarter. Huntington National Bank now owns 1,059 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 990 shares in the last quarter. Liberty Wealth Management LLC boosted its stake in shares of Smith & Nephew by 100.7% in the third quarter. Liberty Wealth Management LLC now owns 1,206 shares of the medical equipment provider’s stock valued at $43,000 after buying an additional 605 shares in the last quarter. Ellevest Inc. boosted its stake in shares of Smith & Nephew by 94.4% in the fourth quarter. Ellevest Inc. now owns 1,277 shares of the medical equipment provider’s stock valued at $44,000 after buying an additional 620 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Smith & Nephew by 73.4% in the fourth quarter. Bessemer Group Inc. now owns 1,406 shares of the medical equipment provider’s stock valued at $49,000 after buying an additional 595 shares in the last quarter. Hedge funds and other institutional investors own 26.03% of the company’s stock.

Smith & Nephew Company Profile (Get Rating)

Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices worldwide. The company offers knee implant products for knee replacement procedures; hip implants for the reconstruction of hip joints; and trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures.

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