StockNews.com Upgrades Smith & Nephew (NYSE:SNN) to “Strong-Buy”

Smith & Nephew (NYSE:SNN) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday.

Other analysts also recently issued research reports about the stock. Berenberg Bank downgraded shares of Smith & Nephew from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Canaccord Genuity Group reiterated a “hold” rating and set a $27.00 price target on shares of Smith & Nephew in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut Smith & Nephew from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Smith & Nephew Price Performance

Shares of NYSE SNN opened at $28.97 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 2.51. Smith & Nephew has a one year low of $23.65 and a one year high of $31.72. The firm has a market capitalization of $12.66 billion, a P/E ratio of 13.41, a PEG ratio of 1.26 and a beta of 0.84. The company’s fifty day moving average is $25.28 and its two-hundred day moving average is $27.24.

Hedge Funds Weigh In On Smith & Nephew

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Securities Inc. grew its position in shares of Smith & Nephew by 87.6% in the fourth quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 691 shares during the last quarter. R Squared Ltd acquired a new stake in Smith & Nephew during the 4th quarter valued at $41,000. National Bank of Canada FI grew its holdings in Smith & Nephew by 36.5% during the 4th quarter. National Bank of Canada FI now owns 1,667 shares of the medical equipment provider’s stock valued at $41,000 after buying an additional 446 shares during the last quarter. Hara Capital LLC increased its position in Smith & Nephew by 391.4% during the fourth quarter. Hara Capital LLC now owns 2,457 shares of the medical equipment provider’s stock worth $60,000 after buying an additional 1,957 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Smith & Nephew by 31.8% in the fourth quarter. GAMMA Investing LLC now owns 2,975 shares of the medical equipment provider’s stock worth $73,000 after acquiring an additional 718 shares during the last quarter. Institutional investors and hedge funds own 25.64% of the company’s stock.

Smith & Nephew Company Profile

Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT.