Smith & Nephew (NYSE:SNN) Upgraded to “Buy” by Bank of America

Bank of America upgraded shares of Smith & Nephew (NYSE:SNN) from a neutral rating to a buy rating in a report issued on Wednesday, The Fly reports.

Several other research firms also recently commented on SNN. Citigroup downgraded shares of Smith & Nephew from a buy rating to a neutral rating in a research report on Tuesday, April 14th. JPMorgan Chase & Co. reiterated a neutral rating on shares of Smith & Nephew in a research report on Thursday, May 7th. Cfra cut their target price on shares of Smith & Nephew from $52.00 to $42.00 and set a hold rating on the stock in a research report on Thursday, May 7th. BofA Securities upgraded shares of Smith & Nephew from a neutral rating to a buy rating in a research report on Wednesday. Finally, Berenberg Bank reiterated a buy rating on shares of Smith & Nephew in a research report on Friday, July 10th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $48.00.

SNN opened at $39.81 on Wednesday. The company’s 50 day moving average is $40.12 and its 200-day moving average is $41.58. Smith & Nephew has a 1-year low of $26.07 and a 1-year high of $52.26. The company has a current ratio of 2.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. The company has a market cap of $17.43 billion, a P/E ratio of 19.51, a PEG ratio of 5.07 and a beta of 0.56.

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Friday, October 2nd will be issued a dividend of $0.278 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a yield of 1.8%. Smith & Nephew’s payout ratio is 44.12%.

A number of institutional investors have recently added to or reduced their stakes in the business. WCM Investment Management LLC raised its holdings in Smith & Nephew by 57.0% during the 1st quarter. WCM Investment Management LLC now owns 6,585,160 shares of the medical equipment provider’s stock worth $236,210,000 after purchasing an additional 2,389,692 shares during the last quarter. Nuance Investments LLC raised its holdings in Smith & Nephew by 22.8% during the 1st quarter. Nuance Investments LLC now owns 4,075,928 shares of the medical equipment provider’s stock worth $146,204,000 after purchasing an additional 757,972 shares during the last quarter. BlackRock Inc. raised its holdings in Smith & Nephew by 18,404.8% during the 1st quarter. BlackRock Inc. now owns 1,370,283 shares of the medical equipment provider’s stock worth $49,152,000 after purchasing an additional 1,362,878 shares during the last quarter. FMR LLC raised its holdings in Smith & Nephew by 640.8% during the 1st quarter. FMR LLC now owns 1,341,034 shares of the medical equipment provider’s stock worth $53,788,000 after purchasing an additional 1,160,015 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in Smith & Nephew by 8.5% during the 1st quarter. Parametric Portfolio Associates LLC now owns 935,235 shares of the medical equipment provider’s stock worth $33,547,000 after purchasing an additional 73,587 shares during the last quarter. Hedge funds and other institutional investors own 9.40% of the company’s stock.

Smith & Nephew Company Profile

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.

Featured Story: Trading Options- What is a Strangle?

The Fly

Analyst Recommendations for Smith & Nephew (NYSE:SNN)

Receive News & Ratings for Smith & Nephew Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smith & Nephew and related companies with MarketBeat.com's FREE daily email newsletter.