Smith & Nephew PLC (SNN) Cut to Hold at Berenberg Bank
Smith & Nephew PLC (NYSE:SNN) was downgraded by investment analysts at Berenberg Bank from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, The Fly reports.
A number of other research firms also recently weighed in on SNN. Zacks Investment Research downgraded Smith & Nephew PLC from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th. Barclays PLC cut shares of Smith & Nephew PLC from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, August 10th. Finally, Beaufort Securities reaffirmed a “hold” rating on shares of Smith & Nephew PLC in a research report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $37.00.
Shares of Smith & Nephew PLC (NYSE:SNN) opened at 32.44 on Thursday. Smith & Nephew PLC has a 52-week low of $30.23 and a 52-week high of $36.11. The company has a 50 day moving average price of $32.99 and a 200-day moving average price of $33.61. The firm has a market cap of $14.50 billion, a P/E ratio of 40.86 and a beta of 0.68.
The business also recently disclosed a dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Friday, October 7th will be given a dividend of $0.236 per share. The ex-dividend date of this dividend is Wednesday, October 5th.
Several institutional investors have recently added to or reduced their stakes in the company. Smithfield Trust Co. boosted its position in Smith & Nephew PLC by 1.1% in the second quarter. Smithfield Trust Co. now owns 3,660 shares of the company’s stock worth $125,000 after buying an additional 40 shares during the period. Checchi Capital Advisers LLC boosted its position in Smith & Nephew PLC by 2.8% in the second quarter. Checchi Capital Advisers LLC now owns 5,892 shares of the company’s stock worth $202,000 after buying an additional 158 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Smith & Nephew PLC during the second quarter worth about $203,000. Toronto Dominion Bank boosted its position in Smith & Nephew PLC by 0.8% in the second quarter. Toronto Dominion Bank now owns 6,912 shares of the company’s stock worth $239,000 after buying an additional 55 shares during the period. Finally, Financial Counselors Inc. boosted its position in Smith & Nephew PLC by 8.7% in the second quarter. Financial Counselors Inc. now owns 7,645 shares of the company’s stock worth $262,000 after buying an additional 611 shares during the period. 5.87% of the stock is currently owned by institutional investors.
Smith & Nephew PLC Company Profile
Smith & Nephew plc is a medical technology company. The Company is engaged in developing, manufacturing, marketing and selling medical devices and services. The Company offers various product franchises, which include Knee implants, Hip implants, Sports Medicine Joint Repair, Arthroscopy Enabling Technologies, Trauma and Extremities, Other Surgical Businesses, Advanced Wound Care, Advanced Wound Devices and Advanced Wound Bioactives.
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