Smith & Nephew PLC (NYSE:SNN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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 “
SNN has been the subject of several other research reports. Beaufort Securities reaffirmed a “hold” rating on shares of Smith & Nephew PLC in a research report on Wednesday, August 10th. Barclays PLC cut shares of Smith & Nephew PLC from an “overweight” rating to an “equal weight” rating in a report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. Smith & Nephew PLC currently has an average rating of “Hold” and an average target price of $37.00.
Smith & Nephew PLC (NYSE:SNN) opened at 32.44 on Tuesday. Smith & Nephew PLC has a 1-year low of $30.23 and a 1-year high of $36.11. The company has a market cap of $14.50 billion, a price-to-earnings ratio of 40.86 and a beta of 0.68. The company’s 50-day moving average is $32.99 and its 200 day moving average is $33.61.
The company also recently disclosed a dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Friday, October 7th will be paid a $0.236 dividend. The ex-dividend date of this dividend is Wednesday, October 5th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smithfield Trust Co. increased its position in Smith & Nephew PLC by 1.1% in the second quarter. Smithfield Trust Co. now owns 3,660 shares of the company’s stock valued at $125,000 after buying an additional 40 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in Smith & Nephew PLC by 2.8% in the second quarter. Checchi Capital Advisers LLC now owns 5,892 shares of the company’s stock worth $202,000 after buying an additional 158 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Smith & Nephew PLC during the second quarter worth $203,000. Toronto Dominion Bank increased its stake in Smith & Nephew PLC by 0.8% in the second quarter. Toronto Dominion Bank now owns 6,912 shares of the company’s stock worth $239,000 after buying an additional 55 shares in the last quarter. Finally, Financial Counselors Inc. increased its stake in Smith & Nephew PLC by 8.7% in the second quarter. Financial Counselors Inc. now owns 7,645 shares of the company’s stock worth $262,000 after buying an additional 611 shares in the last quarter. 5.87% of the stock is owned by institutional investors.
Smith & Nephew PLC Company Profile
Smith & Nephew plc is a medical technology company. The Company is engaged in developing, manufacturing, marketing and selling medical devices and services. The Company offers various product franchises, which include Knee implants, Hip implants, Sports Medicine Joint Repair, Arthroscopy Enabling Technologies, Trauma and Extremities, Other Surgical Businesses, Advanced Wound Care, Advanced Wound Devices and Advanced Wound Bioactives.