Smith & Nephew (SNN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Smith & Nephew (NYSE:SNN) from a hold rating to a buy rating in a report published on Wednesday. Zacks Investment Research currently has $42.00 target price on the medical equipment provider’s stock.

According to Zacks, “Smith & Nephew is a global medical device company. The company markets clinically superior products, principally in orthopaedics, endoscopy and wound management to deliver cost-effective solutions, significant physician advantage and real patient benefits. A continuous process of supplying new and innovative products is supported by substantial R&D investment to deliver new levels of healing to patients throughout the world “

SNN has been the subject of a number of other reports. UBS Group lowered Smith & Nephew from a buy rating to a neutral rating in a research report on Wednesday, August 8th. Canaccord Genuity restated a buy rating on shares of Smith & Nephew in a research report on Thursday, November 1st. Finally, HSBC lowered Smith & Nephew from a buy rating to a hold rating in a research report on Tuesday, October 16th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $42.00.

Shares of NYSE SNN opened at $37.93 on Wednesday. Smith & Nephew has a one year low of $32.22 and a one year high of $39.85. The stock has a market cap of $16.23 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 3.01 and a beta of 0.60. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.13 and a quick ratio of 1.05.

A number of hedge funds and other institutional investors have recently made changes to their positions in SNN. Nuance Investments LLC boosted its position in Smith & Nephew by 30.5% during the 3rd quarter. Nuance Investments LLC now owns 2,794,889 shares of the medical equipment provider’s stock worth $103,722,000 after acquiring an additional 653,488 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Smith & Nephew by 31.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 889,934 shares of the medical equipment provider’s stock worth $33,008,000 after acquiring an additional 211,919 shares during the period. FMR LLC acquired a new stake in Smith & Nephew during the 3rd quarter worth about $6,770,000. Glenmede Trust Co. NA boosted its position in Smith & Nephew by 22.4% during the 2nd quarter. Glenmede Trust Co. NA now owns 981,568 shares of the medical equipment provider’s stock worth $36,838,000 after acquiring an additional 179,800 shares during the period. Finally, Tekla Capital Management LLC lifted its holdings in shares of Smith & Nephew by 320.1% during the 3rd quarter. Tekla Capital Management LLC now owns 185,478 shares of the medical equipment provider’s stock valued at $6,879,000 after buying an additional 141,330 shares during the last quarter. Hedge funds and other institutional investors own 9.03% 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.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

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