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

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

Other analysts also recently issued reports about the stock. Kepler Capital Markets raised shares of Smith & Nephew SNATS to a “strong-buy” rating in a report on Monday, November 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Smith & Nephew SNATS in a research note on Wednesday, October 8th. Canaccord Genuity Group dropped their target price on Smith & Nephew SNATS from $36.00 to $34.00 and set a “hold” rating on the stock in a research report on Tuesday, November 11th. Sanford C. Bernstein set a $37.50 price target on Smith & Nephew SNATS and gave the stock a “market perform” rating in a report on Tuesday, October 14th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Smith & Nephew SNATS in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Smith & Nephew SNATS presently has a consensus rating of “Hold” and a consensus target price of $35.75.

Smith & Nephew SNATS Stock Performance

Smith & Nephew SNATS stock opened at $33.43 on Friday. Smith & Nephew SNATS has a 12 month low of $23.69 and a 12 month high of $38.79. The stock’s 50 day simple moving average is $34.75 and its two-hundred day simple moving average is $33.56. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 3.00.

Hedge Funds Weigh In On Smith & Nephew SNATS

Several hedge funds and other institutional investors have recently made changes to their positions in SNN. Bank of Montreal Can increased its position in shares of Smith & Nephew SNATS by 321.6% during the second 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. River Road Asset Management LLC boosted its stake in Smith & Nephew SNATS by 9.3% during the 2nd quarter. River Road Asset Management LLC now owns 3,179,814 shares of the medical equipment provider’s stock worth $97,175,000 after purchasing an additional 270,480 shares during the last quarter. Scharf Investments LLC grew its holdings in shares of Smith & Nephew SNATS by 0.3% during the second quarter. Scharf Investments LLC now owns 2,083,513 shares of the medical equipment provider’s stock worth $63,818,000 after buying an additional 6,993 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Smith & Nephew SNATS by 49.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,771,401 shares of the medical equipment provider’s stock valued at $50,255,000 after buying an additional 583,809 shares during the last quarter. Finally, Armistice Capital LLC raised its position in shares of Smith & Nephew SNATS by 258.1% in the first quarter. Armistice Capital LLC now owns 1,769,000 shares of the medical equipment provider’s stock valued at $50,187,000 after buying an additional 1,275,000 shares during the last quarter. Hedge funds and other institutional investors own 25.64% of the company’s stock.

About Smith & Nephew SNATS

Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT.