Smith & Nephew (NYSE:SNN) Sets New 1-Year High at $47.21

Smith & Nephew plc (NYSE:SNN) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $47.21 and last traded at $47.18, with a volume of 25239 shares changing hands. The stock had previously closed at $46.62.

Several research firms have recently issued reports on SNN. Zacks Investment Research upgraded shares of Smith & Nephew from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Tuesday, July 2nd. Berenberg Bank upgraded shares of Smith & Nephew from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Finally, Canaccord Genuity restated a “buy” rating and set a $6.00 price objective on shares of Smith & Nephew in a report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Smith & Nephew presently has an average rating of “Buy” and an average price target of $27.50.

The company has a debt-to-equity ratio of 0.40, a current ratio of 2.00 and a quick ratio of 0.96. The stock has a market cap of $20.60 billion, a price-to-earnings ratio of 23.36, a P/E/G ratio of 3.24 and a beta of 0.28. The company’s fifty day moving average price is $44.65 and its 200-day moving average price is $41.51.

A number of large investors have recently modified their holdings of the stock. Strategic Global Advisors LLC increased its holdings in Smith & Nephew by 0.7% in the 2nd quarter. Strategic Global Advisors LLC now owns 34,482 shares of the medical equipment provider’s stock worth $1,501,000 after buying an additional 226 shares during the period. Intrust Bank NA increased its holdings in Smith & Nephew by 1.0% in the 2nd quarter. Intrust Bank NA now owns 26,029 shares of the medical equipment provider’s stock worth $1,133,000 after buying an additional 256 shares during the period. Bank of Montreal Can increased its holdings in Smith & Nephew by 1.7% in the 2nd quarter. Bank of Montreal Can now owns 19,680 shares of the medical equipment provider’s stock worth $856,000 after buying an additional 328 shares during the period. Confluence Investment Management LLC increased its holdings in Smith & Nephew by 2.6% in the 2nd quarter. Confluence Investment Management LLC now owns 13,229 shares of the medical equipment provider’s stock worth $576,000 after buying an additional 335 shares during the period. Finally, Scotia Capital Inc. increased its holdings in Smith & Nephew by 4.0% in the 2nd quarter. Scotia Capital Inc. now owns 9,508 shares of the medical equipment provider’s stock worth $414,000 after buying an additional 370 shares during the period. Institutional investors own 8.91% of the company’s stock.

About Smith & Nephew (NYSE:SNN)

Smith & Nephew plc develops, manufactures, 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.

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