Smith & Nephew (NYSE:SNN) Lowered to Buy at StockNews.com

Smith & Nephew (NYSE:SNN – Get Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Smith & Nephew from GBX 1,376 ($16.96) to GBX 1,442 ($17.78) in a report on Wednesday, March 2nd. Redburn Partners raised Smith & Nephew from a “sell” rating to a “neutral” rating in a report on Friday, March 4th. Zacks Investment Research downgraded Smith & Nephew from a “hold” rating to a “sell” rating in a report on Saturday, May 7th. UBS Group raised their price objective on Smith & Nephew from GBX 1,200 ($14.79) to GBX 1,295 ($15.97) in a research note on Friday, April 29th. Finally, Royal Bank of Canada assumed coverage on Smith & Nephew in a research note on Tuesday, March 15th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $928.33.

Smith & Nephew stock opened at $31.37 on Thursday. Smith & Nephew has a one year low of $29.40 and a one year high of $44.47. The business’s fifty day moving average is $32.06 and its 200 day moving average is $33.39. The company has a quick ratio of 1.21, a current ratio of 2.08 and a debt-to-equity ratio of 0.51.

Several large investors have recently added to or reduced their stakes in SNN. Concord Wealth Partners grew its position in shares of Smith & Nephew by 239.9% during the fourth quarter. Concord Wealth Partners now owns 758 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 535 shares in the last quarter. Huntington National Bank grew its position in shares of Smith & Nephew by 1,434.8% during the fourth quarter. Huntington National Bank now owns 1,059 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 990 shares in the last quarter. Liberty Wealth Management LLC grew its position in shares of Smith & Nephew by 100.7% during the third quarter. Liberty Wealth Management LLC now owns 1,206 shares of the medical equipment provider’s stock worth $43,000 after purchasing an additional 605 shares in the last quarter. Ellevest Inc. grew its position in shares of Smith & Nephew by 94.4% during the fourth quarter. Ellevest Inc. now owns 1,277 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 620 shares in the last quarter. Finally, Twin Tree Management LP purchased a new stake in shares of Smith & Nephew during the first quarter worth about $48,000. 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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