Smith & Nephew SNATS, Inc. (SNN) Downgraded to “Hold” at Zacks Investment Research
Smith & Nephew SNATS, Inc. (NYSE:SNN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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 “
Separately, BidaskClub cut shares of Smith & Nephew SNATS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Smith & Nephew SNATS currently has an average rating of “Hold” and a consensus target price of $41.00.
Smith & Nephew SNATS (NYSE:SNN) traded up 1.43% during trading on Wednesday, hitting $37.00. The company had a trading volume of 248,127 shares. Smith & Nephew SNATS has a 52-week low of $26.97 and a 52-week high of $37.22. The stock has a market capitalization of $16.20 billion, a price-to-earnings ratio of 18.84 and a beta of 0.74. The firm’s 50 day moving average is $36.14 and its 200-day moving average is $34.47.
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A number of hedge funds have recently added to or reduced their stakes in SNN. Cambiar Investors LLC boosted its stake in Smith & Nephew SNATS by 2.8% during the 2nd quarter. Cambiar Investors LLC now owns 5,288,915 shares of the medical equipment provider’s stock worth $184,319,000 after purchasing an additional 145,159 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Smith & Nephew SNATS by 13.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,986,759 shares of the medical equipment provider’s stock valued at $104,089,000 after purchasing an additional 362,484 shares during the period. Bank of America Corp DE increased its stake in Smith & Nephew SNATS by 10.9% in the first quarter. Bank of America Corp DE now owns 1,526,036 shares of the medical equipment provider’s stock valued at $47,200,000 after purchasing an additional 149,672 shares during the period. Renaissance Technologies LLC increased its stake in Smith & Nephew SNATS by 4.7% in the first quarter. Renaissance Technologies LLC now owns 734,000 shares of the medical equipment provider’s stock valued at $22,703,000 after purchasing an additional 32,750 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. increased its stake in Smith & Nephew SNATS by 2,645.8% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 497,676 shares of the medical equipment provider’s stock valued at $17,344,000 after purchasing an additional 479,551 shares during the period. Hedge funds and other institutional investors own 6.36% of the company’s stock.
About Smith & Nephew SNATS
Smith & Nephew plc is a medical technology company. The Company is engaged in developing, manufacturing, marketing and selling medical devices and services. Its products and services include Sports Medicine Joint Repair, Arthroscopic Enabling Technologies (AET), Trauma & Extremities, Other Surgical Businesses, Knee Implants, Hip Implants, Advanced Wound Care, Advanced Wound Bioactives and Advanced Wound Devices.
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