Smith & Nephew SNATS (NYSE:SNN) Rating Lowered to “Neutral” at Bank of America

Smith & Nephew SNATS (NYSE:SNN) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Tuesday, Marketbeat.com reports.

A number of other research firms have also weighed in on SNN. Wall Street Zen lowered shares of Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Saturday. Morgan Stanley downgraded shares of Smith & Nephew SNATS from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, September 2nd. The Goldman Sachs Group restated a “buy” rating on shares of Smith & Nephew SNATS in a research note on Monday, May 25th. Weiss Ratings raised shares of Smith & Nephew SNATS from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday. Finally, Sanford C. Bernstein set a $31.85 price target on Smith & Nephew SNATS in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $30.93.

Smith & Nephew SNATS Stock Up 0.1%

SNN stock opened at $28.91 on Tuesday. The business’s 50-day moving average price is $30.08 and its 200-day moving average price is $31.37. The company has a quick ratio of 1.11, a current ratio of 2.14 and a debt-to-equity ratio of 0.62. Smith & Nephew SNATS has a twelve month low of $28.48 and a twelve month high of $38.79.

Institutional Trading of Smith & Nephew SNATS

Institutional investors and hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LP boosted its holdings in shares of Smith & Nephew SNATS by 3.7% during the 2nd quarter. Corient Private Wealth LP now owns 26,018 shares of the medical equipment provider’s stock valued at $750,000 after purchasing an additional 932 shares during the last quarter. Plan A Wealth LLC increased its holdings in shares of Smith & Nephew SNATS by 16.5% in the second quarter. Plan A Wealth LLC now owns 8,607 shares of the medical equipment provider’s stock worth $248,000 after purchasing an additional 1,221 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of Smith & Nephew SNATS in the second quarter worth about $313,000. Rakuten Investment Management Inc. purchased a new stake in shares of Smith & Nephew SNATS in the second quarter worth about $732,000. Finally, Empowered Funds LLC purchased a new stake in shares of Smith & Nephew SNATS in the second quarter worth about $824,000. 25.64% of the stock is currently owned by institutional investors.

Smith & Nephew SNATS Company Profile

Smith & Nephew plc is a global medical technology company specializing in the design, development and manufacture of advanced surgical devices, orthopaedic reconstruction implants, trauma and extremities products, sports medicine solutions and wound care therapies. Founded in 1856 in Hull, United Kingdom, the company has grown through both organic innovation and strategic acquisitions to offer a broad portfolio that addresses patient needs across joint replacement, minimally invasive surgery and wound healing.

In its orthopaedics business, Smith & Nephew provides hip and knee replacement systems, modular joint revision implants and biologic solutions for bone repair.