Smith & Nephew SNATS (NYSE:SNN) Given New $34.00 Price Target at Canaccord Genuity Group

Smith & Nephew SNATS (NYSE:SNN) had its price target dropped by analysts at Canaccord Genuity Group from $36.00 to $34.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the medical equipment provider’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 2.05% from the company’s previous close.

SNN has been the subject of several other reports. Wall Street Zen cut Smith & Nephew SNATS from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 3rd. Royal Bank Of Canada reissued an “outperform” rating on shares of Smith & Nephew SNATS in a report on Monday, October 20th. Sanford C. Bernstein set a $37.50 price target on shares of Smith & Nephew SNATS and gave the stock a “market perform” rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Smith & Nephew SNATS in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.75.

Smith & Nephew SNATS Price Performance

Shares of SNN traded down $0.03 on Tuesday, hitting $33.32. The company’s stock had a trading volume of 257,724 shares, compared to its average volume of 829,561. The company has a quick ratio of 1.40, a current ratio of 3.00 and a debt-to-equity ratio of 0.60. Smith & Nephew SNATS has a fifty-two week low of $23.69 and a fifty-two week high of $38.79. The company has a 50 day moving average price of $36.38 and a 200 day moving average price of $32.93.

Institutional Investors Weigh In On Smith & Nephew SNATS

Large investors have recently modified their holdings of the stock. Richards Merrill & Peterson Inc. boosted its holdings in shares of Smith & Nephew SNATS by 500.0% during the 1st quarter. Richards Merrill & Peterson Inc. now owns 1,200 shares of the medical equipment provider’s stock valued at $34,000 after acquiring an additional 1,000 shares during the last quarter. AlphaCore Capital LLC purchased a new stake in Smith & Nephew SNATS in the second quarter worth $44,000. Banque Transatlantique SA bought a new stake in shares of Smith & Nephew SNATS during the first quarter valued at approximately $52,000. Smartleaf Asset Management LLC lifted its position in Smith & Nephew SNATS by 1,222.3% during the third quarter. Smartleaf Asset Management LLC now owns 2,486 shares of the medical equipment provider’s stock valued at $88,000 after acquiring an additional 2,298 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in Smith & Nephew SNATS during the 3rd quarter valued at about $102,000. Institutional investors own 25.64% of the company’s stock.

Smith & Nephew SNATS Company Profile

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.