Zacks Investment Research upgraded shares of Smith & Nephew (NYSE:SNN) from a sell rating to a hold rating in a report published on Friday 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 “
Several other equities research analysts also recently weighed in on the stock. Morgan Stanley raised shares of Smith & Nephew from an equal weight rating to an overweight rating in a report on Monday, December 10th. HSBC downgraded shares of Smith & Nephew from a buy rating to a hold rating in a report on Tuesday, October 16th. JPMorgan Chase & Co. downgraded shares of Smith & Nephew from an overweight rating to a neutral rating in a report on Tuesday, January 1st. Canaccord Genuity reaffirmed a buy rating on shares of Smith & Nephew in a report on Thursday, November 1st. Finally, Deutsche Bank raised shares of Smith & Nephew from a sell rating to a hold rating in a report on Friday, December 7th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $42.00.
Hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in Smith & Nephew in the third quarter worth about $204,000. Capital Fund Management S.A. acquired a new stake in Smith & Nephew in the 2nd quarter valued at about $210,000. Avestar Capital LLC lifted its holdings in Smith & Nephew by 25.8% in the 3rd quarter. Avestar Capital LLC now owns 7,910 shares of the medical equipment provider’s stock valued at $276,000 after acquiring an additional 1,623 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Smith & Nephew in the 2nd quarter valued at about $372,000. Finally, MML Investors Services LLC lifted its holdings in Smith & Nephew by 59.2% in the 3rd quarter. MML Investors Services LLC now owns 13,842 shares of the medical equipment provider’s stock valued at $513,000 after acquiring an additional 5,148 shares during the last quarter. 9.02% 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 offers the following products and services: sports medicine joint repair; arthroscopic enabling technologies; trauma and extremities; other surgical businesses; knee and hip implants, and advanced wound care, wound bioactives, and wound devices.
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