Smith & Nephew (NYSE:SNN) Downgraded by StockNews.com to Buy

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

Other analysts have also issued research reports about the stock. Berenberg Bank lowered shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft cut shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Smith & Nephew currently has a consensus rating of “Hold”.

Smith & Nephew Price Performance

Shares of SNN traded down $0.16 on Tuesday, hitting $24.58. The company’s stock had a trading volume of 1,362,566 shares, compared to its average volume of 867,616. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11. The firm’s fifty day moving average price is $29.24 and its 200-day moving average price is $27.87. Smith & Nephew has a fifty-two week low of $23.65 and a fifty-two week high of $31.72.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SNN. Cerity Partners LLC lifted its holdings in Smith & Nephew by 31.5% during the 3rd quarter. Cerity Partners LLC now owns 19,001 shares of the medical equipment provider’s stock valued at $592,000 after purchasing an additional 4,552 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Smith & Nephew by 18.5% during the 3rd quarter. Citigroup Inc. now owns 119,215 shares of the medical equipment provider’s stock worth $3,712,000 after buying an additional 18,630 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Smith & Nephew by 29.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,199 shares of the medical equipment provider’s stock worth $847,000 after buying an additional 6,164 shares during the period. Pathstone Holdings LLC grew its stake in Smith & Nephew by 14.8% in the 3rd quarter. Pathstone Holdings LLC now owns 48,903 shares of the medical equipment provider’s stock valued at $1,523,000 after buying an additional 6,317 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in Smith & Nephew by 5.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 17,218 shares of the medical equipment provider’s stock valued at $536,000 after acquiring an additional 920 shares during the period. 25.64% of the stock is currently owned by institutional investors and hedge funds.

Smith & Nephew Company Profile

Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices and services in the United Kingdom and internationally. It operates through three segments: Orthopaedics, Sports Medicine & ENT, and Advanced Wound Management. The company offers knee implant products for knee replacement procedures; hip implants for revision procedures; trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures; and other reconstruction products.