Smith & Nephew (NYSE:SNN) Stock Rating Lowered by Zacks Investment Research

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

SNN has been the subject of a number of other reports. Bank of America upgraded Smith & Nephew from a “neutral” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. restated a “neutral” rating on shares of Smith & Nephew in a research note on Thursday. Morgan Stanley restated an “overweight” rating on shares of Smith & Nephew in a research note on Thursday. Cfra lowered their target price on Smith & Nephew from $52.00 to $42.00 and set a “hold” rating for the company in a research note on Thursday, May 7th. Finally, Citigroup lowered Smith & Nephew from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 14th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Smith & Nephew presently has a consensus rating of “Hold” and a consensus target price of $48.00.

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

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

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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