Smith & Nephew (NYSE:SNN) Receives Hold Rating from Canaccord Genuity Group

Smith & Nephew (NYSE:SNN)‘s stock had its “hold” rating reissued by stock analysts at Canaccord Genuity Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $27.00 target price on the medical equipment provider’s stock. Canaccord Genuity Group’s price objective would suggest a potential downside of 6.80% from the company’s previous close.

Several other brokerages also recently commented on SNN. Berenberg Bank lowered shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. StockNews.com downgraded Smith & Nephew from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.00.

Smith & Nephew Stock Performance

Shares of NYSE SNN traded up $0.86 during midday trading on Wednesday, hitting $28.97. 998,059 shares of the company’s stock were exchanged, compared to its average volume of 787,402. Smith & Nephew has a 12 month low of $23.65 and a 12 month high of $31.72. The company’s 50 day moving average price is $25.11 and its 200 day moving average price is $27.22. The company has a quick ratio of 1.11, a current ratio of 2.51 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $12.67 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 1.26 and a beta of 0.84.

Institutional Investors Weigh In On Smith & Nephew

Several institutional investors and hedge funds have recently bought and sold shares of SNN. Principal Securities Inc. lifted its holdings in shares of Smith & Nephew by 87.6% during the 4th quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 691 shares during the period. R Squared Ltd acquired a new position in Smith & Nephew during the fourth quarter valued at approximately $41,000. National Bank of Canada FI lifted its stake in Smith & Nephew by 36.5% during the fourth quarter. National Bank of Canada FI now owns 1,667 shares of the medical equipment provider’s stock worth $41,000 after purchasing an additional 446 shares during the last quarter. Hara Capital LLC boosted its holdings in shares of Smith & Nephew by 391.4% in the 4th quarter. Hara Capital LLC now owns 2,457 shares of the medical equipment provider’s stock valued at $60,000 after purchasing an additional 1,957 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Smith & Nephew by 31.8% in the 4th quarter. GAMMA Investing LLC now owns 2,975 shares of the medical equipment provider’s stock valued at $73,000 after purchasing an additional 718 shares during the last quarter. Institutional investors own 25.64% of the company’s stock.

Smith & Nephew Company Profile

Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT.