Zacks Investment Research Lowers Smith & Nephew (SNN) to Hold

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Smith & Nephew (NYSE:SNN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Smith & Nephew is a global medical device company. The company markets clinically superior products, principally in orthopaedics, endoscopy and wound management to deliver cost-effective solutions, significant physician advantage and real patient benefits. A continuous process of supplying new and innovative products is supported by substantial R&D investment to deliver new levels of healing to patients throughout the world “

Other equities research analysts have also recently issued reports about the stock. Deutsche Bank raised shares of Smith & Nephew from a “sell” rating to a “hold” rating in a report on Friday, December 7th. Morgan Stanley raised shares of Smith & Nephew from an “equal weight” rating to an “overweight” rating in a report on Monday, December 10th. BNP Paribas cut shares of Smith & Nephew from an “outperform” rating to a “neutral” rating in a report on Friday, February 8th. Finally, JPMorgan Chase & Co. cut shares of Smith & Nephew from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 1st. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $43.50.

Shares of SNN stock opened at $39.39 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 1.15 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $17.09 billion, a PE ratio of 19.50, a PEG ratio of 2.97 and a beta of 0.43. Smith & Nephew has a 52-week low of $32.22 and a 52-week high of $40.78.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in Smith & Nephew by 26.3% in the 4th quarter. Geode Capital Management LLC now owns 29,356 shares of the medical equipment provider’s stock valued at $1,096,000 after buying an additional 6,110 shares during the last quarter. Jane Street Group LLC acquired a new position in Smith & Nephew in the 4th quarter valued at about $5,251,000. OLD Mission Capital LLC acquired a new position in Smith & Nephew in the 4th quarter valued at about $5,162,000. MML Investors Services LLC grew its stake in Smith & Nephew by 3.9% in the 4th quarter. MML Investors Services LLC now owns 14,377 shares of the medical equipment provider’s stock valued at $537,000 after buying an additional 535 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Smith & Nephew in the 4th quarter valued at about $206,000. Institutional investors and hedge funds own 9.32% of the company’s stock.

About Smith & Nephew

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.

See Also: Why Net Income is Important to Investors

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Analyst Recommendations for Smith & Nephew (NYSE:SNN)

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