Smith & Nephew (NYSE:SNN) Downgraded to “Buy” Rating by StockNews.com

StockNews.com lowered shares of Smith & Nephew (NYSE:SNN) from a strong-buy rating to a buy rating in a report released on Tuesday.

SNN has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft lowered Smith & Nephew from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Berenberg Bank lowered shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Smith & Nephew Stock Performance

Shares of SNN stock opened at $24.89 on Tuesday. Smith & Nephew has a one year low of $23.65 and a one year high of $31.72. The company’s 50-day simple moving average is $28.74 and its 200-day simple moving average is $27.82. The company has a quick ratio of 1.11, a current ratio of 2.51 and a debt-to-equity ratio of 0.63.

Institutional Trading of Smith & Nephew

Several hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new stake in Smith & Nephew in the third quarter worth $792,000. Lorne Steinberg Wealth Management Inc. lifted its position in Smith & Nephew by 53.6% in the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 231,045 shares of the medical equipment provider’s stock valued at $5,725,000 after purchasing an additional 80,650 shares during the last quarter. Clearbridge Investments LLC acquired a new position in Smith & Nephew during the 1st quarter valued at about $2,612,000. Sanctuary Advisors LLC bought a new position in Smith & Nephew in the 2nd quarter worth about $627,000. Finally, Tocqueville Asset Management L.P. increased its stake in shares of Smith & Nephew by 294.9% in the first quarter. Tocqueville Asset Management L.P. now owns 224,441 shares of the medical equipment provider’s stock valued at $5,692,000 after purchasing an additional 167,599 shares during the period. Institutional investors own 25.64% of the company’s stock.

Smith & Nephew Company Profile

Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices and services in the United Kingdom and internationally. It operates through three segments: Orthopaedics, Sports Medicine & ENT, and Advanced Wound Management. The company offers knee implant products for knee replacement procedures; hip implants for revision procedures; trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures; and other reconstruction products.