Smith & Nephew SNATS (NYSE:SNN) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Smith & Nephew SNATS, Inc. (NYSE:SNN)’s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $31.06 and traded as high as $32.66. Smith & Nephew SNATS shares last traded at $32.4660, with a volume of 2,679,835 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of Smith & Nephew SNATS from an “overweight” rating to an “equal weight” rating in a report on Wednesday, September 2nd. Bank of America downgraded Smith & Nephew SNATS from a “buy” rating to a “neutral” rating in a report on Tuesday, September 8th. Wall Street Zen raised Smith & Nephew SNATS from a “hold” rating to a “buy” rating in a report on Sunday, September 13th. Zacks Research upgraded Smith & Nephew SNATS from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 8th. Finally, Barclays cut Smith & Nephew SNATS from an “equal weight” rating to an “underweight” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.91.

Smith & Nephew SNATS Trading Down 2.7%

The business’s fifty day moving average price is $28.50 and its 200 day moving average price is $31.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 2.14.

Institutional Investors Weigh In On Smith & Nephew SNATS

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Smith & Nephew SNATS in the second quarter valued at approximately $505,323,000. Bank of America Corp DE purchased a new stake in Smith & Nephew SNATS during the second quarter worth approximately $97,223,000. Bank of New York Mellon Corp acquired a new stake in Smith & Nephew SNATS during the 2nd quarter worth $89,325,000. Dimensional Fund Advisors LP lifted its stake in Smith & Nephew SNATS by 44.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,052,747 shares of the medical equipment provider’s stock valued at $33,436,000 after buying an additional 324,080 shares during the last quarter. Finally, Caisse de depot et placement du Quebec acquired a new position in Smith & Nephew SNATS in the 2nd quarter valued at about $64,186,000. Institutional investors own 25.64% of the company’s stock.

About Smith & Nephew SNATS

Smith & Nephew plc is a global medical technology company that develops and manufactures products used by healthcare professionals to treat injuries, manage wounds and restore patients’ mobility. Founded in 1856 by Thomas James Smith in Hull, England, the company has grown from a pharmacy business into an international healthcare manufacturer.

The company operates across three principal areas: orthopaedics, sports medicine and ear, nose and throat (ENT), and advanced wound management.