Smith & Nephew (SNN) Rating Increased to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Smith & Nephew (NYSE:SNN) from a sell rating to a hold rating in a research report released on Wednesday morning.
According to Zacks, “Smith & Nephew is a global medical device company. The company markets clinically superior products, principally in orthopaedics, endoscopy and wound management to deliver cost-effective solutions, significant physician advantage and real patient benefits. A continuous process of supplying new and innovative products is supported by substantial R&D investment to deliver new levels of healing to patients throughout the world “
A number of other brokerages also recently commented on SNN. Canaccord Genuity assumed coverage on Smith & Nephew in a research report on Wednesday, October 11th. They set a buy rating and a $42.00 price objective for the company. Morgan Stanley downgraded Smith & Nephew from an overweight rating to an equal weight rating in a research report on Monday, December 11th. Finally, JPMorgan Chase & Co. raised Smith & Nephew from a neutral rating to an overweight rating in a research report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $44.00.
A number of hedge funds have recently bought and sold shares of SNN. Bank of New York Mellon Corp lifted its stake in Smith & Nephew by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 67,738 shares of the medical equipment provider’s stock worth $2,361,000 after purchasing an additional 1,539 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Smith & Nephew by 10.4% during the second quarter. PNC Financial Services Group Inc. now owns 22,979 shares of the medical equipment provider’s stock worth $801,000 after purchasing an additional 2,170 shares during the last quarter. HighTower Advisors LLC lifted its stake in Smith & Nephew by 10.8% during the second quarter. HighTower Advisors LLC now owns 8,730 shares of the medical equipment provider’s stock worth $300,000 after purchasing an additional 851 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Smith & Nephew by 95.0% during the second quarter. Goldman Sachs Group Inc. now owns 462,640 shares of the medical equipment provider’s stock worth $16,123,000 after purchasing an additional 225,418 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Smith & Nephew by 10.0% during the second quarter. Royal Bank of Canada now owns 341,706 shares of the medical equipment provider’s stock worth $11,908,000 after purchasing an additional 31,143 shares during the last quarter. Hedge funds and other institutional investors own 6.56% of the company’s stock.
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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.
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