Zacks Investment Research upgraded shares of Smith & Nephew PLC (NYSE:SNN) from a sell rating to a hold rating in a report issued on Tuesday 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 equities research analysts also recently weighed in on SNN. Barclays PLC downgraded Smith & Nephew PLC from an overweight rating to an equal weight rating in a research report on Wednesday, August 10th. Beaufort Securities reaffirmed a hold rating on shares of Smith & Nephew PLC in a research report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $37.00.

Smith & Nephew PLC (NYSE:SNN) traded down 0.44% during midday trading on Tuesday, hitting $32.58. The company’s stock had a trading volume of 47,366 shares. The company’s 50-day moving average is $33.03 and its 200 day moving average is $33.62. Smith & Nephew PLC has a one year low of $30.23 and a one year high of $36.11. The company has a market cap of $14.56 billion, a price-to-earnings ratio of 41.03 and a beta of 0.68.

The firm also recently disclosed a dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Friday, October 7th will be issued a $0.236 dividend. The ex-dividend date is Wednesday, October 5th.

A number of hedge funds have recently modified their holdings of SNN. Renaissance Technologies LLC raised its stake in shares of Smith & Nephew PLC by 267.7% in the first quarter. Renaissance Technologies LLC now owns 1,111,500 shares of the company’s stock valued at $37,035,000 after buying an additional 809,200 shares during the last quarter. Cambiar Investors LLC raised its stake in shares of Smith & Nephew PLC by 7.2% in the second quarter. Cambiar Investors LLC now owns 4,692,137 shares of the company’s stock valued at $161,034,000 after buying an additional 316,346 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Smith & Nephew PLC by 21.7% in the first quarter. Goldman Sachs Group Inc. now owns 149,657 shares of the company’s stock valued at $4,986,000 after buying an additional 26,708 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Smith & Nephew PLC by 427.0% in the first quarter. JPMorgan Chase & Co. now owns 56,617 shares of the company’s stock valued at $1,886,000 after buying an additional 45,874 shares during the last quarter. Finally, Rothschild Asset Management Inc. raised its stake in shares of Smith & Nephew PLC by 15.6% in the second quarter. Rothschild Asset Management Inc. now owns 10,217 shares of the company’s stock valued at $351,000 after buying an additional 1,377 shares during the last quarter. 5.87% of the stock is currently owned by institutional investors.

About Smith & Nephew PLC

Smith & Nephew plc is a medical technology company. The Company is engaged in developing, manufacturing, marketing and selling medical devices and services. The Company offers various product franchises, which include Knee implants, Hip implants, Sports Medicine Joint Repair, Arthroscopy Enabling Technologies, Trauma and Extremities, Other Surgical Businesses, Advanced Wound Care, Advanced Wound Devices and Advanced Wound Bioactives.

5 Day Chart for NYSE:SNN

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