Smith & Nephew SNATS (NYSE:SNN) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Smith & Nephew SNATS (NYSE:SNN) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning.

A number of other analysts have also issued reports on SNN. Kepler Capital Markets raised Smith & Nephew SNATS to a “strong-buy” rating in a research report on Monday, November 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Smith & Nephew SNATS in a research report on Wednesday, January 21st. Canaccord Genuity Group reduced their target price on Smith & Nephew SNATS from $36.00 to $34.00 and set a “hold” rating for the company in a research note on Tuesday, November 11th. Finally, Royal Bank Of Canada lowered shares of Smith & Nephew SNATS from an “outperform” rating to a “sector perform” rating in a research note on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.75.

Smith & Nephew SNATS Price Performance

SNN opened at $36.17 on Friday. Smith & Nephew SNATS has a twelve month low of $23.91 and a twelve month high of $38.79. The company has a quick ratio of 1.40, a current ratio of 3.00 and a debt-to-equity ratio of 0.60. The company has a fifty day simple moving average of $33.85 and a 200 day simple moving average of $34.94.

Institutional Investors Weigh In On Smith & Nephew SNATS

A number of hedge funds and other institutional investors have recently made changes to their positions in SNN. Garner Asset Management Corp acquired a new position in Smith & Nephew SNATS in the 4th quarter worth $27,000. Arax Advisory Partners lifted its holdings in shares of Smith & Nephew SNATS by 142.6% in the fourth quarter. Arax Advisory Partners now owns 968 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 569 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in shares of Smith & Nephew SNATS during the fourth quarter worth about $36,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Smith & Nephew SNATS during the third quarter worth about $41,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Smith & Nephew SNATS during the fourth quarter worth about $43,000. 25.64% of the stock is currently owned by institutional investors and hedge funds.

About Smith & Nephew SNATS

Smith & Nephew plc is a global medical technology company specializing in the design, development and manufacture of advanced surgical devices, orthopaedic reconstruction implants, trauma and extremities products, sports medicine solutions and wound care therapies. Founded in 1856 in Hull, United Kingdom, the company has grown through both organic innovation and strategic acquisitions to offer a broad portfolio that addresses patient needs across joint replacement, minimally invasive surgery and wound healing.

In its orthopaedics business, Smith & Nephew provides hip and knee replacement systems, modular joint revision implants and biologic solutions for bone repair.