Smith & Nephew (NYSE:SNN) Cut to Buy at StockNews.com

StockNews.com downgraded shares of Smith & Nephew (NYSE:SNN) from a strong-buy rating to a buy rating in a research report released on Tuesday.

A number of other brokerages have also issued reports on SNN. Deutsche Bank Aktiengesellschaft lowered shares of Smith & Nephew from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Berenberg Bank cut shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold”.

Smith & Nephew Stock Up 0.1 %

NYSE:SNN opened at $24.64 on Tuesday. The business’s 50-day simple moving average is $29.00 and its two-hundred day simple moving average is $27.84. Smith & Nephew has a 52 week low of $23.65 and a 52 week high of $31.72. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11.

Hedge Funds Weigh In On Smith & Nephew

Institutional investors have recently added to or reduced their stakes in the company. Argonautica Private Wealth Management Inc. boosted its position in shares of Smith & Nephew by 6.3% during the 2nd quarter. Argonautica Private Wealth Management Inc. now owns 10,244 shares of the medical equipment provider’s stock valued at $254,000 after acquiring an additional 605 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in Smith & Nephew by 6.9% during the third quarter. First Trust Direct Indexing L.P. now owns 9,659 shares of the medical equipment provider’s stock valued at $301,000 after purchasing an additional 626 shares during the last quarter. Inspire Advisors LLC grew its stake in shares of Smith & Nephew by 3.0% in the 2nd quarter. Inspire Advisors LLC now owns 22,286 shares of the medical equipment provider’s stock worth $552,000 after buying an additional 639 shares in the last quarter. Townsquare Capital LLC grew its stake in shares of Smith & Nephew by 5.4% in the 3rd quarter. Townsquare Capital LLC now owns 14,759 shares of the medical equipment provider’s stock worth $460,000 after buying an additional 761 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Smith & Nephew by 8.6% in the 2nd quarter. Rhumbline Advisers now owns 10,365 shares of the medical equipment provider’s stock worth $257,000 after buying an additional 819 shares during the last quarter. Hedge funds and other institutional investors own 25.64% of the company’s stock.

Smith & Nephew Company Profile

Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices and services in the United Kingdom and internationally. It operates through three segments: Orthopaedics, Sports Medicine & ENT, and Advanced Wound Management. The company offers knee implant products for knee replacement procedures; hip implants for revision procedures; trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures; and other reconstruction products.