Morgan Stanley Reaffirms Overweight Rating for Smith & Nephew (NYSE:SNN)

Morgan Stanley reiterated their overweight rating on shares of Smith & Nephew (NYSE:SNN) in a research report released on Thursday, The Fly reports.

Several other analysts have also recently issued reports on SNN. Bank of America raised shares of Smith & Nephew from a neutral rating to a buy rating in a research note on Wednesday. Berenberg Bank reiterated a buy rating on shares of Smith & Nephew in a report on Friday, July 10th. JPMorgan Chase & Co. reiterated a neutral rating on shares of Smith & Nephew in a report on Thursday, May 7th. BofA Securities upgraded shares of Smith & Nephew from a neutral rating to a buy rating in a report on Wednesday. Finally, Citigroup lowered shares of Smith & Nephew from a buy rating to a neutral rating in a report on Tuesday, April 14th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $48.00.

Shares of NYSE SNN opened at $39.81 on Thursday. Smith & Nephew has a 12-month low of $26.07 and a 12-month high of $52.26. The company has a quick ratio of 1.03, a current ratio of 2.18 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average of $40.12 and a 200 day moving average of $41.58.

The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Friday, October 2nd will be issued a $0.278 dividend. The ex-dividend date is Thursday, October 1st. This represents a dividend yield of 1.8%. Smith & Nephew’s dividend payout ratio is currently 44.12%.

Several hedge funds have recently modified their holdings of SNN. WCM Investment Management LLC lifted its holdings in shares of Smith & Nephew by 57.0% in the 1st quarter. WCM Investment Management LLC now owns 6,585,160 shares of the medical equipment provider’s stock worth $236,210,000 after acquiring an additional 2,389,692 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Smith & Nephew by 18,404.8% in the 1st quarter. BlackRock Inc. now owns 1,370,283 shares of the medical equipment provider’s stock worth $49,152,000 after acquiring an additional 1,362,878 shares during the last quarter. FMR LLC lifted its holdings in shares of Smith & Nephew by 640.8% in the 1st quarter. FMR LLC now owns 1,341,034 shares of the medical equipment provider’s stock worth $53,788,000 after acquiring an additional 1,160,015 shares during the last quarter. Nuance Investments LLC lifted its holdings in shares of Smith & Nephew by 22.8% in the 1st quarter. Nuance Investments LLC now owns 4,075,928 shares of the medical equipment provider’s stock worth $146,204,000 after acquiring an additional 757,972 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Smith & Nephew by 101.6% in the 1st quarter. Royal Bank of Canada now owns 720,405 shares of the medical equipment provider’s stock worth $25,841,000 after acquiring an additional 363,007 shares during the last quarter. Hedge funds and other institutional investors own 9.40% of the company’s stock.

About Smith & Nephew

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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Analyst Recommendations for Smith & Nephew (NYSE:SNN)

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