Canaccord Genuity Group Issues Pessimistic Forecast for Smith & Nephew SNATS (NYSE:SNN) Stock Price

Smith & Nephew SNATS (NYSE:SNN) had its price objective reduced by Canaccord Genuity Group from $36.00 to $34.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the medical equipment provider’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 1.53% from the company’s current price.

Several other analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Smith & Nephew SNATS in a research note on Wednesday, October 8th. Sanford C. Bernstein set a $37.50 target price on Smith & Nephew SNATS and gave the stock a “market perform” rating in a report on Tuesday, October 14th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Smith & Nephew SNATS in a report on Monday, October 20th. Finally, Wall Street Zen downgraded Smith & Nephew SNATS from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.75.

Smith & Nephew SNATS Stock Performance

Smith & Nephew SNATS stock opened at $33.49 on Tuesday. The company has a fifty day simple moving average of $36.23 and a 200-day simple moving average of $32.98. The company has a quick ratio of 1.40, a current ratio of 3.00 and a debt-to-equity ratio of 0.60. Smith & Nephew SNATS has a 52-week low of $23.69 and a 52-week high of $38.79.

Institutional Trading of Smith & Nephew SNATS

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Smith & Nephew SNATS by 11.7% in the third quarter. GAMMA Investing LLC now owns 3,837 shares of the medical equipment provider’s stock worth $139,000 after acquiring an additional 401 shares during the period. Versant Capital Management Inc raised its position in Smith & Nephew SNATS by 5.0% in the third quarter. Versant Capital Management Inc now owns 8,912 shares of the medical equipment provider’s stock valued at $323,000 after purchasing an additional 423 shares during the period. Ashton Thomas Securities LLC lifted its stake in shares of Smith & Nephew SNATS by 0.9% in the 2nd quarter. Ashton Thomas Securities LLC now owns 55,911 shares of the medical equipment provider’s stock valued at $1,713,000 after purchasing an additional 509 shares during the last quarter. Inspire Investing LLC grew its holdings in shares of Smith & Nephew SNATS by 7.1% during the 3rd quarter. Inspire Investing LLC now owns 7,789 shares of the medical equipment provider’s stock worth $283,000 after purchasing an additional 516 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Smith & Nephew SNATS by 15.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,149 shares of the medical equipment provider’s stock worth $118,000 after purchasing an additional 541 shares during the period. Hedge funds and other institutional investors own 25.64% of the company’s stock.

About Smith & Nephew SNATS

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.