Smith & Nephew (SNN) Upgraded to Overweight by JPMorgan Chase & Co.

Smith & Nephew (NYSE:SNN) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Thursday, Marketbeat reports.

SNN has been the topic of a number of other research reports. Canaccord Genuity reissued a “buy” rating and issued a $45.00 price target on shares of Smith & Nephew in a research note on Friday, January 5th. Zacks Investment Research downgraded Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, Morgan Stanley downgraded Smith & Nephew from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 11th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $44.00.

Smith & Nephew (NYSE:SNN) traded down $0.01 during mid-day trading on Thursday, hitting $37.19. The stock had a trading volume of 369,263 shares, compared to its average volume of 499,694. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current ratio of 2.18. The firm has a market cap of $16,020.00, a P/E ratio of 18.97, a P/E/G ratio of 3.90 and a beta of 0.72. Smith & Nephew has a one year low of $29.76 and a one year high of $40.43.

Several hedge funds have recently bought and sold shares of SNN. Arrowstreet Capital Limited Partnership lifted its stake in shares of Smith & Nephew by 13.8% in the 2nd 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. Crossmark Global Holdings Inc. bought a new stake in shares of Smith & Nephew in the 3rd quarter valued at $12,640,000. Bank of Montreal Can increased its position in shares of Smith & Nephew by 1,088.9% in the 4th quarter. Bank of Montreal Can now owns 281,224 shares of the medical equipment provider’s stock valued at $9,846,000 after buying an additional 257,569 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Smith & Nephew by 95.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 462,640 shares of the medical equipment provider’s stock valued at $16,123,000 after buying an additional 225,418 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of Smith & Nephew by 109.1% in the 3rd quarter. Jane Street Group LLC now owns 340,327 shares of the medical equipment provider’s stock valued at $12,388,000 after buying an additional 177,546 shares in the last quarter. 6.44% of the stock is currently owned by institutional investors.

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About Smith & Nephew

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.

Analyst Recommendations for Smith & Nephew (NYSE:SNN)

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