Smith & Nephew (SNN) Rating Reiterated by Canaccord Genuity

Smith & Nephew (NYSE:SNN)‘s stock had its “buy” rating reissued by investment analysts at Canaccord Genuity in a report issued on Monday, AnalystRatings.com reports. They currently have a $10.00 price objective on the medical equipment provider’s stock. Canaccord Genuity’s price objective suggests a potential downside of 74.80% from the stock’s previous close.

SNN has been the topic of several other reports. Zacks Investment Research raised Smith & Nephew from a “hold” rating to a “strong-buy” rating and set a $45.00 target price on the stock in a research report on Thursday, March 14th. BNP Paribas downgraded Smith & Nephew from an “outperform” rating to a “neutral” rating in a research report on Friday, February 8th. JPMorgan Chase & Co. downgraded Smith & Nephew from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 1st. Finally, Morgan Stanley upgraded Smith & Nephew from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 10th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $27.50.

Shares of NYSE SNN traded down $0.01 during trading on Monday, hitting $39.69. 12,050 shares of the company traded hands, compared to its average volume of 513,598. Smith & Nephew has a 1 year low of $32.22 and a 1 year high of $40.78. The stock has a market capitalization of $17.36 billion, a PE ratio of 19.65, a P/E/G ratio of 3.02 and a beta of 0.44. The company has a quick ratio of 1.15, a current ratio of 2.10 and a debt-to-equity ratio of 0.27.

A number of hedge funds have recently made changes to their positions in SNN. Bank of New York Mellon Corp raised its stake in shares of Smith & Nephew by 18.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 76,184 shares of the medical equipment provider’s stock valued at $2,827,000 after acquiring an additional 11,873 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Smith & Nephew by 20.0% during the third quarter. PNC Financial Services Group Inc. now owns 29,709 shares of the medical equipment provider’s stock worth $1,103,000 after purchasing an additional 4,944 shares in the last quarter. FMR LLC acquired a new position in shares of Smith & Nephew during the third quarter worth about $6,770,000. Quantbot Technologies LP purchased a new stake in shares of Smith & Nephew in the third quarter worth about $204,000. Finally, United Services Automobile Association boosted its position in shares of Smith & Nephew by 7.6% in the third quarter. United Services Automobile Association now owns 20,416 shares of the medical equipment provider’s stock worth $757,000 after buying an additional 1,443 shares during the period. 9.32% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Smith & Nephew (NYSE:SNN)

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