Smith & Nephew (NYSE:SNN) Coverage Initiated at Citigroup

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Equities research analysts at Citigroup assumed coverage on shares of Smith & Nephew (NYSE:SNN) in a report released on Thursday, The Fly reports. The brokerage set a “buy” rating on the medical equipment provider’s stock.

A number of other brokerages have also recently issued reports on SNN. ValuEngine cut shares of Smith & Nephew from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised shares of Smith & Nephew from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Sanford C. Bernstein assumed coverage on shares of Smith & Nephew in a research note on Tuesday, November 12th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Smith & Nephew presently has a consensus rating of “Hold” and an average price target of $27.50.

Shares of Smith & Nephew stock opened at $43.05 on Thursday. Smith & Nephew has a 52-week low of $35.39 and a 52-week high of $48.93. The stock has a market capitalization of $18.85 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 3.87 and a beta of 0.23. The company has a fifty day moving average of $44.73 and a 200-day moving average of $44.67. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.96 and a current ratio of 2.00.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BBVA USA Bancshares Inc. boosted its position in Smith & Nephew by 3.9% during the 3rd quarter. BBVA USA Bancshares Inc. now owns 49,029 shares of the medical equipment provider’s stock valued at $2,360,000 after buying an additional 1,834 shares during the period. Cookson Peirce & Co. Inc. boosted its position in Smith & Nephew by 7.2% during the 3rd quarter. Cookson Peirce & Co. Inc. now owns 38,606 shares of the medical equipment provider’s stock valued at $1,858,000 after buying an additional 2,596 shares during the period. SG Americas Securities LLC boosted its position in Smith & Nephew by 23.3% during the 3rd quarter. SG Americas Securities LLC now owns 51,934 shares of the medical equipment provider’s stock valued at $2,500,000 after buying an additional 9,803 shares during the period. Kornitzer Capital Management Inc. KS boosted its position in Smith & Nephew by 10.4% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 147,000 shares of the medical equipment provider’s stock valued at $7,075,000 after buying an additional 13,900 shares during the period. Finally, Parallel Advisors LLC boosted its position in Smith & Nephew by 83.1% during the 3rd quarter. Parallel Advisors LLC now owns 2,084 shares of the medical equipment provider’s stock valued at $100,000 after buying an additional 946 shares during the period. 9.08% of the stock is owned by institutional investors and hedge funds.

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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The Fly

Analyst Recommendations for Smith & Nephew (NYSE:SNN)

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