Smith & Nephew SNATS (NYSE:SNN) Downgraded by Morgan Stanley to “Equal Weight”

Smith & Nephew SNATS (NYSE:SNN) was downgraded by equities research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Wednesday, MarketBeat.com reports.

SNN has been the subject of a number of other research reports. Kepler Capital Markets lowered shares of Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Thursday, June 4th. Wall Street Zen upgraded shares of Smith & Nephew SNATS from a “hold” rating to a “buy” rating in a research report on Monday, August 24th. Zacks Research cut shares of Smith & Nephew SNATS from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Sanford C. Bernstein set a $31.85 price target on Smith & Nephew SNATS in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Smith & Nephew SNATS in a research note on Thursday, August 6th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Smith & Nephew SNATS presently has an average rating of “Reduce” and an average target price of $30.93.

Smith & Nephew SNATS Trading Up 0.8%

Shares of SNN stock opened at $28.98 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.14 and a quick ratio of 1.11. The firm has a 50-day moving average price of $30.20 and a 200 day moving average price of $31.57. Smith & Nephew SNATS has a twelve month low of $28.56 and a twelve month high of $38.79.

Institutional Investors Weigh In On Smith & Nephew SNATS

Several hedge funds have recently modified their holdings of the stock. Equity Investment Corp grew its holdings in Smith & Nephew SNATS by 3.9% in the fourth quarter. Equity Investment Corp now owns 7,502 shares of the medical equipment provider’s stock valued at $246,000 after purchasing an additional 285 shares during the period. Smartleaf Asset Management LLC raised its stake in Smith & Nephew SNATS by 13.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,820 shares of the medical equipment provider’s stock worth $93,000 after purchasing an additional 334 shares during the period. Cary Street Partners Financial LLC boosted its holdings in shares of Smith & Nephew SNATS by 1.8% in the 4th quarter. Cary Street Partners Financial LLC now owns 20,255 shares of the medical equipment provider’s stock valued at $665,000 after purchasing an additional 365 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Smith & Nephew SNATS by 20.0% in the 1st quarter. Parallel Advisors LLC now owns 2,322 shares of the medical equipment provider’s stock valued at $74,000 after purchasing an additional 387 shares during the last quarter. Finally, Clearstead Trust LLC purchased a new stake in shares of Smith & Nephew SNATS during the 2nd quarter valued at $25,000. 25.64% of the stock is owned by institutional investors and hedge funds.

Smith & Nephew SNATS Company Profile

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.