Smith & Nephew SNATS (NYSE:SNN) Rating Lowered to Strong Sell at Zacks Research

Smith & Nephew SNATS (NYSE:SNN) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday, Zacks reports.

A number of other research firms have also commented on SNN. Berenberg Bank set a $33.88 price target on shares of Smith & Nephew SNATS in a research report on Friday, September 11th. Weiss Ratings downgraded Smith & Nephew SNATS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. Barclays downgraded Smith & Nephew SNATS from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, August 5th. Bank of America lowered Smith & Nephew SNATS from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 8th. Finally, BTIG Research assumed coverage on Smith & Nephew SNATS in a research report on Monday, August 31st. They set a “neutral” rating for the company. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $31.91.

Smith & Nephew SNATS Price Performance

NYSE:SNN traded down $0.85 during mid-day trading on Thursday, hitting $31.16. 1,863,749 shares of the stock traded hands, compared to its average volume of 1,212,994. The business’s 50-day moving average price is $28.50 and its 200 day moving average price is $31.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.14 and a quick ratio of 1.11. Smith & Nephew SNATS has a 12-month low of $26.12 and a 12-month high of $37.09.

Institutional Investors Weigh In On Smith & Nephew SNATS

Hedge funds have recently bought and sold shares of the stock. Clearstead Trust LLC bought a new position in shares of Smith & Nephew SNATS in the 2nd quarter worth $25,000. Addison Advisors LLC purchased a new stake in shares of Smith & Nephew SNATS during the 2nd quarter valued at $43,000. Allworth Financial LP purchased a new stake in shares of Smith & Nephew SNATS during the 2nd quarter valued at $48,000. Centaurus Financial Inc. bought a new stake in shares of Smith & Nephew SNATS during the 2nd quarter worth $112,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Smith & Nephew SNATS during the 2nd quarter worth $136,000. 25.64% of the stock is currently owned by institutional investors.

About Smith & Nephew SNATS

Smith & Nephew plc is a global medical technology company that develops and manufactures products used by healthcare professionals to treat injuries, manage wounds and restore patients’ mobility. Founded in 1856 by Thomas James Smith in Hull, England, the company has grown from a pharmacy business into an international healthcare manufacturer.

The company operates across three principal areas: orthopaedics, sports medicine and ear, nose and throat (ENT), and advanced wound management.