Wall Street Zen Downgrades Smith & Nephew SNATS (NYSE:SNN) to Buy

Smith & Nephew SNATS (NYSE:SNN) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Monday.

SNN has been the topic of several other reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Smith & Nephew SNATS in a research note on Wednesday, October 8th. Kepler Capital Markets upgraded Smith & Nephew SNATS to a “strong-buy” rating in a research report on Monday, November 17th. Royal Bank Of Canada cut Smith & Nephew SNATS from an “outperform” rating to a “sector perform” rating in a research note on Monday, December 15th. Sanford C. Bernstein set a $37.50 price target on Smith & Nephew SNATS and gave the company a “market perform” rating in a research note on Tuesday, October 14th. Finally, Canaccord Genuity Group decreased their price target on Smith & Nephew SNATS from $36.00 to $34.00 and set a “hold” rating on the stock in a report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Smith & Nephew SNATS presently has an average rating of “Hold” and a consensus price target of $35.75.

Smith & Nephew SNATS Price Performance

Shares of SNN opened at $32.74 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.00 and a quick ratio of 1.40. Smith & Nephew SNATS has a one year low of $23.69 and a one year high of $38.79. The business’s 50 day simple moving average is $34.02 and its 200-day simple moving average is $33.87.

Institutional Investors Weigh In On Smith & Nephew SNATS

Institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its holdings in Smith & Nephew SNATS by 321.6% during the 2nd quarter. Bank of Montreal Can now owns 3,429,829 shares of the medical equipment provider’s stock worth $105,056,000 after purchasing an additional 2,616,301 shares in the last quarter. Armistice Capital LLC boosted its position in shares of Smith & Nephew SNATS by 258.1% during the first quarter. Armistice Capital LLC now owns 1,769,000 shares of the medical equipment provider’s stock worth $50,187,000 after buying an additional 1,275,000 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Smith & Nephew SNATS by 6,663.4% during the second quarter. JPMorgan Chase & Co. now owns 1,210,655 shares of the medical equipment provider’s stock worth $37,082,000 after buying an additional 1,192,755 shares in the last quarter. ABC Arbitrage SA raised its position in Smith & Nephew SNATS by 1,063.4% in the 2nd quarter. ABC Arbitrage SA now owns 898,635 shares of the medical equipment provider’s stock valued at $27,525,000 after buying an additional 821,393 shares during the last quarter. Finally, Todd Asset Management LLC bought a new stake in Smith & Nephew SNATS in the 3rd quarter valued at approximately $26,319,000. 25.64% of the stock is owned by institutional investors.

About Smith & Nephew SNATS

Smith & Nephew plc is a global medical technology company specializing in the design, development and manufacture of advanced surgical devices, orthopaedic reconstruction implants, trauma and extremities products, sports medicine solutions and wound care therapies. Founded in 1856 in Hull, United Kingdom, the company has grown through both organic innovation and strategic acquisitions to offer a broad portfolio that addresses patient needs across joint replacement, minimally invasive surgery and wound healing.

In its orthopaedics business, Smith & Nephew provides hip and knee replacement systems, modular joint revision implants and biologic solutions for bone repair.