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

Smith & Nephew (NYSE:SNN)‘s stock had its “hold” rating restated by stock analysts at Canaccord Genuity Group in a report issued on Monday,Benzinga reports. They currently have a $27.00 price target on the medical equipment provider’s stock. Canaccord Genuity Group’s target price would indicate a potential downside of 6.20% from the company’s current price.

Other equities analysts have also issued reports about the company. StockNews.com raised Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 26th. UBS Group lowered Smith & Nephew from a “buy” rating to a “neutral” rating in a research note on Wednesday, March 12th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Smith & Nephew presently has an average rating of “Hold” and an average target price of $27.00.

Smith & Nephew Price Performance

Smith & Nephew stock opened at $28.79 on Monday. The stock’s 50 day moving average is $26.52 and its 200 day moving average is $27.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11. The firm has a market cap of $12.58 billion, a P/E ratio of 13.33, a P/E/G ratio of 1.26 and a beta of 0.83. Smith & Nephew has a one year low of $23.65 and a one year high of $31.72.

Institutional Investors Weigh In On Smith & Nephew

A number of hedge funds have recently added to or reduced their stakes in SNN. Principal Securities Inc. increased its holdings in Smith & Nephew by 87.6% in the fourth quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 691 shares in the last quarter. R Squared Ltd bought a new stake in Smith & Nephew in the fourth quarter worth approximately $41,000. National Bank of Canada FI increased its holdings in shares of 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 valued at $41,000 after acquiring an additional 446 shares in the last quarter. Hara Capital LLC increased its holdings in shares of Smith & Nephew by 391.4% during the fourth quarter. Hara Capital LLC now owns 2,457 shares of the medical equipment provider’s stock valued at $60,000 after acquiring an additional 1,957 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Smith & Nephew by 31.8% during the fourth quarter. GAMMA Investing LLC now owns 2,975 shares of the medical equipment provider’s stock valued at $73,000 after acquiring an additional 718 shares in the last quarter. 25.64% of the stock is currently owned by institutional investors.

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.