The Smith & Nephew PLC (SNN) Downgraded by Berenberg Bank to Hold

The Smith & Nephew PLC (SNN) Downgraded by Berenberg Bank to Hold

Berenberg Bank cut shares of Smith & Nephew PLC (NYSE:SNN) from a buy rating to a hold rating in a report published on Thursday morning.

Several other analysts also recently commented on SNN. Zacks Investment Research raised shares of Smith & Nephew PLC from a hold rating to a buy rating and set a $37.00 price objective for the company in a research report on Tuesday, June 14th. Barclays PLC downgraded shares of Smith & Nephew PLC from an overweight rating to an equal weight rating in a research report on Wednesday, August 10th. Finally, Beaufort Securities reaffirmed a hold rating on shares of Smith & Nephew PLC in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $37.00.

Smith & Nephew PLC (NYSE:SNN) traded down 0.57% on Thursday, hitting $31.23. 233,136 shares of the stock traded hands. The company has a market cap of $13.96 billion, a price-to-earnings ratio of 39.33 and a beta of 0.68. The stock has a 50-day moving average price of $32.94 and a 200 day moving average price of $33.59. Smith & Nephew PLC has a 1-year low of $30.23 and a 1-year high of $36.11.

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

Several institutional investors have recently made changes to their positions in SNN. Renaissance Technologies LLC boosted its position 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 worth $37,035,000 after buying an additional 809,200 shares during the period. Glenmede Trust Co. NA boosted its position in shares of Smith & Nephew PLC by 31,780.9% in the second quarter. Glenmede Trust Co. NA now owns 366,311 shares of the company’s stock worth $12,570,000 after buying an additional 365,162 shares during the period. Cambiar Investors LLC boosted its position 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 worth $161,034,000 after buying an additional 316,346 shares during the period. Highbridge Capital Management LLC bought a new position in shares of Smith & Nephew PLC during the second quarter worth approximately $9,676,000. Finally, US Bancorp DE boosted its position in shares of Smith & Nephew PLC by 43.2% in the second quarter. US Bancorp DE now owns 503,300 shares of the company’s stock worth $17,273,000 after buying an additional 151,740 shares during the period. Hedge funds and other institutional investors own 5.87% of the company’s stock.

About Smith & Nephew PLC

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