Smith & Nephew plc (SN) Downgraded to Hold at Berenberg Bank
Berenberg Bank cut shares of Smith & Nephew plc (LON:SN) to a hold rating in a research report released on Thursday morning. Berenberg Bank currently has GBX 1,340 ($17.49) target price on the stock, down from their previous target price of GBX 1,485 ($19.38).
A number of other research firms have also recently commented on SN. JPMorgan Chase & Co. reissued a neutral rating and issued a GBX 1,196 ($15.61) target price on shares of Smith & Nephew plc in a report on Friday, July 15th. Jefferies Group reissued a buy rating and issued a GBX 1,420 ($18.54) target price on shares of Smith & Nephew plc in a report on Friday, August 12th. Credit Suisse Group AG reissued a neutral rating and issued a GBX 1,285 ($16.77) target price on shares of Smith & Nephew plc in a report on Friday, July 29th. Goldman Sachs Group Inc. dropped their target price on shares of Smith & Nephew plc from GBX 1,410 ($18.40) to GBX 1,370 ($17.88) and set a buy rating for the company in a report on Tuesday, August 2nd. Finally, Barclays PLC cut shares of Smith & Nephew plc to an equal weight rating and increased their target price for the stock from GBX 1,230 ($16.06) to GBX 1,240 ($16.19) in a report on Wednesday, August 10th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of GBX 1,283.77 ($16.76).
Shares of Smith & Nephew plc (LON:SN) traded up 1.55% during midday trading on Thursday, hitting GBX 1241.00. 4,851,477 shares of the stock traded hands. Smith & Nephew plc has a 52 week low of GBX 1,040.36 and a 52 week high of GBX 1,324.00. The firm’s 50-day moving average is GBX 1,239.73 and its 200 day moving average is GBX 1,208.66. The company’s market capitalization is GBX 11.09 billion.
In related news, insider Bottomley ,Virginia acquired 238 shares of the company’s stock in a transaction on Monday, August 15th. The shares were acquired at an average cost of GBX 1,290 ($16.84) per share, for a total transaction of £3,070.20 ($4,007.57).
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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