Smith & Nephew (NYSE:SNN) Downgraded to Sell at Zacks Investment Research

Smith & Nephew (NYSE:SNN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Smith & Nephew is a global medical device company. The company markets clinically superior products, principally in orthopaedics, endoscopy and wound management to deliver cost-effective solutions, significant physician advantage and real patient benefits. A continuous process of supplying new and innovative products is supported by substantial R&D investment to deliver new levels of healing to patients throughout the world “

Other analysts also recently issued research reports about the stock. Berenberg Bank raised shares of Smith & Nephew from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. ValuEngine downgraded shares of Smith & Nephew from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $27.50.



NYSE:SNN traded up $0.05 during trading hours on Wednesday, hitting $46.76. 419,642 shares of the company were exchanged, compared to its average volume of 525,195. The stock has a market capitalization of $20.49 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 3.22 and a beta of 0.25. Smith & Nephew has a 52-week low of $32.22 and a 52-week high of $48.93. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.00 and a quick ratio of 0.96. The company’s 50 day moving average price is $47.49 and its 200-day moving average price is $43.62.

Several hedge funds have recently added to or reduced their stakes in the company. Strategic Global Advisors LLC boosted its holdings in shares of Smith & Nephew by 0.7% in the 2nd quarter. Strategic Global Advisors LLC now owns 34,482 shares of the medical equipment provider’s stock valued at $1,501,000 after acquiring an additional 226 shares during the last quarter. Pinnacle Bank lifted its stake in shares of Smith & Nephew by 27.6% in the 3rd quarter. Pinnacle Bank now owns 1,063 shares of the medical equipment provider’s stock valued at $51,000 after purchasing an additional 230 shares during the period. Intrust Bank NA lifted its stake in shares of Smith & Nephew by 1.0% in the 2nd quarter. Intrust Bank NA now owns 26,029 shares of the medical equipment provider’s stock valued at $1,133,000 after purchasing an additional 256 shares during the period. Bank of Montreal Can lifted its stake in shares of Smith & Nephew by 1.7% in the 2nd quarter. Bank of Montreal Can now owns 19,680 shares of the medical equipment provider’s stock valued at $856,000 after purchasing an additional 328 shares during the period. Finally, Confluence Investment Management LLC lifted its stake in shares of Smith & Nephew by 2.6% in the 2nd quarter. Confluence Investment Management LLC now owns 13,229 shares of the medical equipment provider’s stock valued at $576,000 after purchasing an additional 335 shares during the period. 8.76% of the stock is currently owned by institutional investors and hedge funds.

Smith & Nephew Company Profile

Smith & Nephew plc develops, manufactures, and sells medical devices worldwide. The company offers sports medicine joint repair products for surgeons, including an array of instruments, technologies, and implants necessary to perform minimally invasive surgery of the joints, such as the repair of soft tissue injuries and degenerative conditions of the knee, hip, and shoulder.

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