Brokerages Set Smith & Nephew plc (NYSE:SNN) Target Price at $50.75

Smith & Nephew plc (NYSE:SNN) has earned an average recommendation of “Buy” from the nine brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $50.75.

A number of research analysts have recently issued reports on the stock. Credit Suisse Group raised shares of Smith & Nephew from a “neutral” rating to an “outperform” rating in a research report on Wednesday, June 9th. Morgan Stanley reissued an “overweight” rating on shares of Smith & Nephew in a research report on Tuesday, August 17th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Smith & Nephew in a research report on Monday, August 2nd. Barclays restated an “overweight” rating on shares of Smith & Nephew in a research note on Friday, September 10th. Finally, Zacks Investment Research cut shares of Smith & Nephew from a “hold” rating to a “sell” rating in a research note on Wednesday, August 25th.

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its position in Smith & Nephew by 640.8% during the first 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 period. OLD Mission Capital LLC purchased a new stake in shares of Smith & Nephew during the third quarter worth $2,912,000. Comerica Bank grew its holdings in shares of Smith & Nephew by 3.1% during the first quarter. Comerica Bank now owns 33,934 shares of the medical equipment provider’s stock worth $1,405,000 after buying an additional 1,023 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Smith & Nephew by 9.4% during the first quarter. Envestnet Asset Management Inc. now owns 820,756 shares of the medical equipment provider’s stock worth $31,107,000 after buying an additional 70,601 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Smith & Nephew by 80.7% during the first quarter. Cullen Frost Bankers Inc. now owns 6,136 shares of the medical equipment provider’s stock worth $233,000 after buying an additional 2,740 shares in the last quarter. Institutional investors and hedge funds own 8.66% of the company’s stock.

Shares of Smith & Nephew stock traded down $0.01 on Thursday, reaching $36.23. The stock had a trading volume of 12,561 shares, compared to its average volume of 518,939. The company has a 50 day moving average price of $39.31 and a 200 day moving average price of $40.67. The company has a quick ratio of 1.27, a current ratio of 2.10 and a debt-to-equity ratio of 0.55. Smith & Nephew has a 1 year low of $34.29 and a 1 year high of $46.10. The stock has a market capitalization of $15.93 billion, a P/E ratio of 28.09, a P/E/G ratio of 1.50 and a beta of 0.71.

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, October 27th. Shareholders of record on Friday, October 1st will be paid a dividend of $0.288 per share. This represents a yield of 1.9%. The ex-dividend date is Thursday, September 30th. Smith & Nephew’s payout ratio is 69.77%.

Smith & Nephew 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.

Further Reading: Understanding dividend yield and dividend payout ratio

Analyst Recommendations for Smith & Nephew (NYSE:SNN)

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