Smith & Nephew SNATS, Inc. (SNN) Coverage Initiated at Canaccord Genuity
Canaccord Genuity initiated coverage on shares of Smith & Nephew SNATS, Inc. (NYSE:SNN) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $42.00 price target on the medical equipment provider’s stock. Canaccord Genuity’s price target would suggest a potential upside of 11.76% from the stock’s current price.
The analysts wrote, “We initiate coverage of Smith & Nephew with a BUY rating and a $42 target as we believe the broad product portfolio, spanning both orthopedics and wound care, provides a strong foundation from which the company can realize accelerating top-line growth. Further, with two major restructuring programs now complete we believe SNN is better positioned to focus on commercial execution and operating leverage.””
Several other equities research analysts have also weighed in on SNN. Zacks Investment Research lowered shares of Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. BidaskClub upgraded shares of Smith & Nephew SNATS from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $41.50.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. raised its stake in Smith & Nephew SNATS by 28.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 60,388 shares of the medical equipment provider’s stock worth $2,104,000 after acquiring an additional 13,206 shares during the period. BTIM Corp. raised its stake in Smith & Nephew SNATS by 3.2% during the second quarter. BTIM Corp. now owns 65,000 shares of the medical equipment provider’s stock worth $2,265,000 after acquiring an additional 2,000 shares during the period. Earnest Partners LLC raised its stake in Smith & Nephew SNATS by 28.9% during the first quarter. Earnest Partners LLC now owns 30,239 shares of the medical equipment provider’s stock worth $935,000 after acquiring an additional 6,774 shares during the period. Sensato Investors LLC raised its stake in Smith & Nephew SNATS by 12.7% during the first quarter. Sensato Investors LLC now owns 465,865 shares of the medical equipment provider’s stock worth $14,409,000 after acquiring an additional 52,365 shares during the period. Finally, Blue Jay Capital Management LLC acquired a new stake in Smith & Nephew SNATS during the second quarter worth about $6,970,000. Hedge funds and other institutional investors own 6.37% of the company’s stock.
Smith & Nephew SNATS Company Profile
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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