Smith & Nephew (NYSE:SNN) Receives “Hold” Rating from Canaccord Genuity Group

Canaccord Genuity Group reissued their hold rating on shares of Smith & Nephew (NYSE:SNN) in a research report sent to investors on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a $27.00 price target on the medical equipment provider’s stock.

Several other brokerages have also weighed in on SNN. Berenberg Bank lowered Smith & Nephew from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft downgraded Smith & Nephew from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, StockNews.com cut shares of Smith & Nephew from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Smith & Nephew Trading Up 2.9 %

NYSE SNN opened at $28.92 on Wednesday. The company has a current ratio of 2.51, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. Smith & Nephew has a 1-year low of $23.65 and a 1-year high of $31.72. The firm’s fifty day simple moving average is $25.19 and its 200-day simple moving average is $27.23. The company has a market capitalization of $12.64 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.26 and a beta of 0.84.

Institutional Trading of Smith & Nephew

Institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Securities Inc. raised its stake in shares of Smith & Nephew by 87.6% in the 4th quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 691 shares in the last quarter. R Squared Ltd acquired a new position in Smith & Nephew during the fourth quarter valued at approximately $41,000. National Bank of Canada FI grew its holdings in Smith & Nephew by 36.5% during the fourth quarter. National Bank of Canada FI now owns 1,667 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 446 shares during the last quarter. Hara Capital LLC raised its position in shares of Smith & Nephew by 391.4% in the fourth quarter. Hara Capital LLC now owns 2,457 shares of the medical equipment provider’s stock valued at $60,000 after purchasing an additional 1,957 shares during the period. Finally, GAMMA Investing LLC lifted its stake 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 buying 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.