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

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

A number of other equities research analysts also recently issued reports on SNN. The Goldman Sachs Group restated a “buy” rating on shares of Smith & Nephew SNATS in a research report on Monday, May 25th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Smith & Nephew SNATS in a report on Thursday, August 6th. Weiss Ratings raised shares of Smith & Nephew SNATS from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. Wall Street Zen cut shares of Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Sanford C. Bernstein set a $31.85 target price on shares of Smith & Nephew SNATS in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $30.93.

Smith & Nephew SNATS Price Performance

Shares of NYSE SNN opened at $28.91 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 2.14. Smith & Nephew SNATS has a 12-month low of $28.48 and a 12-month high of $38.79. The firm’s 50-day moving average price is $30.08 and its 200-day moving average price is $31.37.

Hedge Funds Weigh In On Smith & Nephew SNATS

Large investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Smith & Nephew SNATS during the second quarter valued at $13,812,000. Grandfield & Dodd LLC purchased a new position in Smith & Nephew SNATS in the 2nd quarter worth about $13,192,000. Public Employees Retirement System of Ohio purchased a new position in Smith & Nephew SNATS in the 2nd quarter worth about $2,170,000. Teachers Retirement System of The State of Kentucky lifted its holdings in Smith & Nephew SNATS by 51.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 905,100 shares of the medical equipment provider’s stock valued at $28,764,000 after buying an additional 305,600 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in Smith & Nephew SNATS during the 2nd quarter valued at about $505,323,000. Hedge funds and other institutional investors own 25.64% of the company’s stock.

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.