Smith & Nephew (NYSE:SNN) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Smith & Nephew (NYSE:SNN) had its price target increased by investment analysts at Canaccord Genuity Group from $27.00 to $28.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the medical equipment provider’s stock. Canaccord Genuity Group’s target price suggests a potential downside of 2.06% from the company’s previous close.

A number of other analysts have also commented on the company. Hsbc Global Res lowered Smith & Nephew from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 25th. HSBC lowered shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Friday, April 25th. StockNews.com upgraded shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 26th. Finally, UBS Group lowered shares of Smith & Nephew from a “buy” rating to a “neutral” rating in a report on Wednesday, March 12th. Six equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Smith & Nephew currently has an average rating of “Hold” and an average target price of $28.00.

Smith & Nephew Stock Up 1.3 %

Shares of NYSE:SNN opened at $28.59 on Thursday. Smith & Nephew has a 1 year low of $23.69 and a 1 year high of $31.72. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11. The stock’s 50-day moving average is $27.65 and its 200 day moving average is $26.33. The company has a market cap of $12.52 billion, a PE ratio of 13.24, a P/E/G ratio of 1.26 and a beta of 0.71.

Hedge Funds Weigh In On Smith & Nephew

Several large investors have recently made changes to their positions in SNN. J. Goldman & Co LP bought a new stake in Smith & Nephew in the fourth quarter worth $47,700,000. River Road Asset Management LLC grew its position in Smith & Nephew by 64.0% during the 4th quarter. River Road Asset Management LLC now owns 2,032,016 shares of the medical equipment provider’s stock valued at $49,947,000 after purchasing an additional 792,829 shares during the last quarter. Causeway Capital Management LLC bought a new stake in Smith & Nephew during the 4th quarter valued at about $11,820,000. Northern Trust Corp raised its holdings in Smith & Nephew by 169.9% in the fourth quarter. Northern Trust Corp now owns 508,392 shares of the medical equipment provider’s stock worth $12,496,000 after buying an additional 320,054 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Smith & Nephew in the fourth quarter worth approximately $6,132,000. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

Smith & Nephew Company Profile

Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT.