Smith & Nephew SNATS (NYSE:SNN) Stock Bumped Down to Strong Sell by Zacks Research

Zacks Research cut shares of Smith & Nephew SNATS (NYSE:SNN) from a hold rating to a strong sell rating in a report published on Thursday morning,Zacks reports.

SNN has been the subject of several other research reports. Weiss Ratings downgraded shares of Smith & Nephew SNATS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. Morgan Stanley cut Smith & Nephew SNATS from an “overweight” rating to an “equal weight” rating in a report on Wednesday, September 2nd. Bank of America downgraded shares of Smith & Nephew SNATS from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 8th. BTIG Research began coverage on Smith & Nephew SNATS in a research note on Monday, August 31st. They issued a “neutral” rating on the stock. Finally, Wall Street Zen downgraded Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $31.91.

Smith & Nephew SNATS Stock Down 2.7%

NYSE:SNN traded down $0.85 during midday trading on Thursday, hitting $31.16. The company had a trading volume of 1,863,749 shares, compared to its average volume of 1,212,994. Smith & Nephew SNATS has a 52-week low of $26.12 and a 52-week high of $37.09. The company has a quick ratio of 1.11, a current ratio of 2.14 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average price is $28.50 and its 200-day moving average price is $31.05.

Institutional Investors Weigh In On Smith & Nephew SNATS

Several large investors have recently bought and sold shares of SNN. BlackRock Inc. purchased a new position in Smith & Nephew SNATS during the 2nd quarter worth $505,323,000. Bank of America Corp DE acquired a new position in shares of Smith & Nephew SNATS in the second quarter valued at approximately $97,223,000. Bank of New York Mellon Corp purchased a new stake in Smith & Nephew SNATS in the 2nd quarter valued at about $89,325,000. Dimensional Fund Advisors LP raised its holdings in shares of Smith & Nephew SNATS by 44.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,052,747 shares of the medical equipment provider’s stock worth $33,436,000 after purchasing an additional 324,080 shares during the period. Finally, Caisse de depot et placement du Quebec acquired a new stake in shares of Smith & Nephew SNATS in the second quarter valued at about $64,186,000. Hedge funds and other institutional investors own 25.64% of the company’s stock.

About Smith & Nephew SNATS

Smith & Nephew plc is a global medical technology company that develops and manufactures products used by healthcare professionals to treat injuries, manage wounds and restore patients’ mobility. Founded in 1856 by Thomas James Smith in Hull, England, the company has grown from a pharmacy business into an international healthcare manufacturer.

The company operates across three principal areas: orthopaedics, sports medicine and ear, nose and throat (ENT), and advanced wound management.