Smith & Nephew SNATS (NYSE:SNN) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Smith & Nephew SNATS (NYSE:SNN) from a buy rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

A number of other brokerages have also recently commented on SNN. JPMorgan Chase & Co. cut shares of Smith & Nephew SNATS from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 6th. Bank of America cut shares of Smith & Nephew SNATS from a “buy” rating to a “neutral” rating in a report on Tuesday, September 8th. Weiss Ratings downgraded shares of Smith & Nephew SNATS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Morgan Stanley lowered shares of Smith & Nephew SNATS from an “overweight” rating to an “equal weight” rating in a report on Wednesday, September 2nd. Finally, Berenberg Bank set a $33.88 price target on shares of Smith & Nephew SNATS in a research report on Friday, September 11th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Smith & Nephew SNATS presently has a consensus rating of “Reduce” and an average price target of $31.91.

Smith & Nephew SNATS Stock Performance

NYSE SNN opened at $31.16 on Friday. The stock’s 50-day simple moving average is $28.50 and its two-hundred day simple moving average is $31.05. Smith & Nephew SNATS has a twelve month low of $26.12 and a twelve month high of $37.09. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 2.14.

Institutional Investors Weigh In On Smith & Nephew SNATS

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Smith & Nephew SNATS in the second quarter worth about $505,323,000. Bank of America Corp DE purchased a new position in Smith & Nephew SNATS during the 2nd quarter valued at about $97,223,000. Bank of New York Mellon Corp purchased a new position in Smith & Nephew SNATS during the 2nd quarter valued at about $89,325,000. Dimensional Fund Advisors LP lifted its holdings in shares of Smith & Nephew SNATS by 44.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,052,747 shares of the medical equipment provider’s stock valued at $33,436,000 after purchasing an additional 324,080 shares during the last quarter. Finally, Caisse de depot et placement du Quebec bought a new position in Smith & Nephew SNATS during the 2nd quarter valued at approximately $64,186,000. 25.64% of the stock is owned by hedge funds and other institutional investors.

About Smith & Nephew SNATS

Smith & Nephew plc is a global medical technology company that develops and sells products used in surgery, orthopaedics and wound care. Its offerings include implants for hip and knee replacement, instruments and devices for sports medicine and ear, nose and throat procedures, and products designed to manage wounds and support tissue repair.

Founded in 1856 in Hull, England, the company began as a pharmacy business before expanding into medical products. It now serves healthcare providers and patients in markets around the world.

Smith & Nephew’s business focuses on orthopaedics, sports medicine and ear, nose and throat care, and advanced wound management.