Smith & Nephew (NYSE:SNN) Rating Lowered to Hold at Canaccord Genuity Group

Smith & Nephew (NYSE:SNNGet Rating) was downgraded by research analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports.

Several other equities analysts have also weighed in on the stock. Barclays reduced their price target on shares of Smith & Nephew from GBX 1,650 ($19.88) to GBX 1,630 ($19.64) in a research report on Tuesday, July 5th. StockNews.com downgraded shares of Smith & Nephew from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 8th. Finally, UBS Group lifted their price target on shares of Smith & Nephew from GBX 1,200 ($14.46) to GBX 1,295 ($15.60) in a report on Friday, April 29th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,455.67.

Smith & Nephew Trading Down 9.8 %

Shares of NYSE:SNN opened at $26.46 on Thursday. Smith & Nephew has a 1 year low of $26.54 and a 1 year high of $44.20. The business has a fifty day moving average price of $29.18 and a two-hundred day moving average price of $31.55. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.21 and a current ratio of 2.08.

Hedge Funds Weigh In On Smith & Nephew

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNN. Nuance Investments LLC grew its position in shares of Smith & Nephew by 3.7% in the first quarter. Nuance Investments LLC now owns 10,256,123 shares of the medical equipment provider’s stock valued at $327,170,000 after purchasing an additional 366,117 shares in the last quarter. Bank of America Corp DE grew its holdings in Smith & Nephew by 13.6% during the 4th quarter. Bank of America Corp DE now owns 1,414,562 shares of the medical equipment provider’s stock valued at $48,973,000 after buying an additional 169,437 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Smith & Nephew by 3.5% during the first quarter. Lazard Asset Management LLC now owns 954,239 shares of the medical equipment provider’s stock valued at $30,440,000 after buying an additional 31,912 shares during the period. Raymond James & Associates increased its position in shares of Smith & Nephew by 6.6% during the first quarter. Raymond James & Associates now owns 853,256 shares of the medical equipment provider’s stock valued at $27,219,000 after buying an additional 53,176 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Smith & Nephew by 691.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 803,232 shares of the medical equipment provider’s stock worth $25,623,000 after buying an additional 701,806 shares in the last quarter. Institutional investors own 26.03% of the company’s stock.

Smith & Nephew Company Profile

(Get Rating)

Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices worldwide. The company offers knee implant products for knee replacement procedures; hip implants for the reconstruction of hip joints; and trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures.

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Analyst Recommendations for Smith & Nephew (NYSE:SNN)

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