Smith & Nephew (SNN) Upgraded to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Smith & Nephew (NYSE:SNN) from a hold rating to a strong-buy rating in a research note released on Thursday morning. Zacks Investment Research currently has $45.00 price objective on the medical equipment provider’s stock.

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 “

Several other analysts also recently commented on SNN. BNP Paribas downgraded shares of Smith & Nephew from an outperform rating to a neutral rating in a research report on Friday, February 8th. Deutsche Bank upgraded shares of Smith & Nephew from a sell rating to a hold rating in a research report on Friday, December 7th. JPMorgan Chase & Co. downgraded shares of Smith & Nephew from an overweight rating to a neutral rating in a research report on Tuesday, January 1st. Finally, Morgan Stanley upgraded shares of Smith & Nephew from an equal weight rating to an overweight rating in a research report on Monday, December 10th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $43.50.

Shares of SNN stock traded up $0.35 on Thursday, hitting $39.74. 22,083 shares of the stock traded hands, compared to its average volume of 689,588. The company has a market capitalization of $17.09 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 2.97 and a beta of 0.43. Smith & Nephew has a 52 week low of $32.22 and a 52 week high of $40.78. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.10 and a quick ratio of 1.15.

The business also recently declared a semiannual dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, April 5th will be issued a $0.44 dividend. This is an increase from Smith & Nephew’s previous semiannual dividend of $0.25. This represents a yield of 2.31%. The ex-dividend date is Thursday, April 4th. Smith & Nephew’s payout ratio is currently 26.73%.

A number of hedge funds and other institutional investors have recently made changes to their positions in SNN. Comerica Bank boosted its position in Smith & Nephew by 15.3% in the 3rd quarter. Comerica Bank now owns 33,674 shares of the medical equipment provider’s stock valued at $1,134,000 after buying an additional 4,472 shares during the period. MML Investors Services LLC raised its stake in shares of Smith & Nephew by 59.2% during the 3rd quarter. MML Investors Services LLC now owns 13,842 shares of the medical equipment provider’s stock worth $513,000 after acquiring an additional 5,148 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of Smith & Nephew by 9.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 17,833 shares of the medical equipment provider’s stock worth $661,000 after acquiring an additional 1,508 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Smith & Nephew by 4.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 374,014 shares of the medical equipment provider’s stock worth $13,872,000 after acquiring an additional 16,923 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Smith & Nephew by 18.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 76,184 shares of the medical equipment provider’s stock worth $2,827,000 after acquiring an additional 11,873 shares in the last quarter. Institutional investors own 9.32% of the company’s stock.

Smith & Nephew Company Profile

Smith & Nephew plc develops, manufactures, and sells medical devices worldwide. The company offers sports medicine joint repair products for surgeons, including an array of instruments, technologies, and implants necessary to perform minimally invasive surgery of the joints, such as the repair of soft tissue injuries and degenerative conditions of the knee, hip, and shoulder.

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