Smith & Nephew (LON:SN) Shares Break Above Two Hundred Day Moving Average Following Analyst Downgrade

Smith & Nephew plc (LON:SN) shares passed above its 200-day moving average during trading on Thursday after Citigroup raised their price target on the stock from GBX 1,450 to GBX 1,600. The stock has a 200-day moving average of GBX 1,151.79 and traded as high as GBX 1,194.50. Citigroup currently has a buy rating on the stock. Smith & Nephew shares last traded at GBX 1,190, with a volume of 6,387,170 shares traded.

A number of other research analysts have also recently weighed in on SN. JPMorgan Chase & Co. lifted their price objective on Smith & Nephew from GBX 1,357 to GBX 1,438 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Royal Bank Of Canada increased their target price on shares of Smith & Nephew from GBX 1,400 to GBX 1,700 and gave the stock an “outperform” rating in a report on Monday, October 20th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Smith & Nephew from GBX 1,300 to GBX 1,400 and gave the stock a “hold” rating in a report on Wednesday, August 6th. Finally, Berenberg Bank raised their target price on shares of Smith & Nephew from GBX 1,100 to GBX 1,300 and gave the stock a “hold” rating in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of GBX 1,242.50.

Smith & Nephew Price Performance

The company has a current ratio of 2.14, a quick ratio of 0.84 and a debt-to-equity ratio of 73.07. The firm has a market cap of £13.05 billion, a PE ratio of 42.84, a price-to-earnings-growth ratio of 0.46 and a beta of 0.69. The stock has a 50 day simple moving average of GBX 1,056.25 and a 200-day simple moving average of GBX 1,151.79.

Smith & Nephew Company Profile

Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices and services in the United Kingdom and internationally. It operates through three segments: Orthopaedics, Sports Medicine & ENT, and Advanced Wound Management. The company offers knee implant products for knee replacement procedures; hip implants for revision procedures; trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures; and other reconstruction products.