Smith & Nephew (NYSE:SNN) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Smith & Nephew (NYSE:SNN) from a buy rating to a strong-buy rating in a report released on Wednesday morning.

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

Smith & Nephew Price Performance

Shares of NYSE:SNN opened at $28.92 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11. Smith & Nephew has a 12 month low of $23.65 and a 12 month high of $31.72. The firm has a market capitalization of $12.64 billion, a P/E ratio of 13.39, a P/E/G ratio of 1.26 and a beta of 0.84. The company’s fifty day moving average price is $25.19 and its 200 day moving average price is $27.23.

Institutional Trading of Smith & Nephew

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in shares of Smith & Nephew during the third quarter worth $792,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Smith & Nephew by 29.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,199 shares of the medical equipment provider’s stock worth $847,000 after acquiring an additional 6,164 shares during the period. Stifel Financial Corp acquired a new position in shares of Smith & Nephew during the third quarter worth about $1,258,000. Maverick Capital Ltd. purchased a new position in Smith & Nephew during the third quarter worth about $2,086,000. Finally, Blue Trust Inc. lifted its position in Smith & Nephew by 26.0% in the fourth quarter. Blue Trust Inc. now owns 5,871 shares of the medical equipment provider’s stock valued at $144,000 after purchasing an additional 1,213 shares during the period. 25.64% of the stock is owned by institutional investors and hedge funds.

About Smith & Nephew

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.