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Smith & Nephew plc (NYSE:SNN) was downgraded by Morgan Stanley to an “equal weight” rating in a research note issued on Friday.

Shares of Smith & Nephew plc (NYSE:SNN) traded down 1.99% on Friday, hitting $85.30. The stock had a trading volume of 94,728 shares. Smith & Nephew plc has a one year low of $57.99 and a one year high of $100.90. The stock’s 50-day moving average is $88.06 and its 200-day moving average is $81.61. The company has a market cap of $15.252 billion and a price-to-earnings ratio of 29.96. Smith & Nephew plc also saw a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 394,959 shares, a drop of 38.5% from the July 15th total of 641,725 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 114,135 shares, the days-to-cover ratio is presently 3.5 days.

Smith & Nephew plc (NYSE:SNN) last released its earnings data on Friday, August 1st. The company reported $1.02 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.94 by $0.08. Analysts expect that Smith & Nephew plc will post $4.21 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on SNN. Analysts at Panmure Gordon reiterated a “hold” rating on shares of Smith & Nephew plc in a research note on Monday, August 4th. Separately, analysts at Numis Securities Ltd reiterated a “hold” rating on shares of Smith & Nephew plc in a research note on Monday, August 4th. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Smith & Nephew plc in a research note on Monday, August 4th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $97.00.

Smith & Nephew plc is a global medical devices business operating in the markets for orthopaedic reconstruction and trauma, endoscopy (NYSE:SNN) and advanced wound management.

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