HSBC downgraded shares of Smith & Nephew (NYSE:SNN) from a buy rating to a hold rating in a research report released on Tuesday morning, The Fly reports.

SNN has been the topic of a number of other reports. UBS Group cut shares of Smith & Nephew from a buy rating to a neutral rating in a research note on Wednesday, August 8th. Zacks Investment Research upgraded shares of Smith & Nephew from a sell rating to a hold rating in a research note on Tuesday, August 7th. Finally, Canaccord Genuity restated a buy rating and set a $42.00 price objective on shares of Smith & Nephew in a research note on Monday, August 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $41.00.

Shares of NYSE SNN opened at $33.85 on Tuesday. Smith & Nephew has a fifty-two week low of $33.64 and a fifty-two week high of $39.85. The company has a current ratio of 2.13, a quick ratio of 1.05 and a debt-to-equity ratio of 0.31. The stock has a market cap of $14.84 billion, a P/E ratio of 17.82, a P/E/G ratio of 2.79 and a beta of 0.47.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Gravity Wealth Inc. acquired a new position in Smith & Nephew during the first quarter worth about $123,000. Checchi Capital Advisers LLC acquired a new position in Smith & Nephew during the second quarter worth about $204,000. Capital Fund Management S.A. acquired a new position in Smith & Nephew during the second quarter worth about $210,000. Alps Advisors Inc. acquired a new position in Smith & Nephew during the second quarter worth about $302,000. Finally, SG Americas Securities LLC acquired a new position in Smith & Nephew during the second quarter worth about $372,000. Institutional investors and hedge funds own 8.70% of the company’s stock.

About Smith & Nephew

Smith & Nephew plc designs, develops, and sells medical devices worldwide. The company offers sports medicine joint repair products for surgeons, including an array of instruments, technologies, and implants necessary to perform minimally invasive surgery of the joints, such as the repair of soft tissue injuries and degenerative conditions of the knee, hip, and shoulder.

Read More: Why do earnings reports matter?

The Fly

Analyst Recommendations for Smith & Nephew (NYSE:SNN)

Receive News & Ratings for Smith & Nephew Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smith & Nephew and related companies with MarketBeat.com's FREE daily email newsletter.