Canaccord Genuity Group Reiterates Hold Rating for Smith & Nephew (NYSE:SNN)

Smith & Nephew (NYSE:SNN)‘s stock had its “hold” rating reiterated by equities research analysts at Canaccord Genuity Group in a research report issued on Wednesday,Benzinga reports. They currently have a $27.00 target price on the medical equipment provider’s stock. Canaccord Genuity Group’s price objective indicates a potential downside of 6.78% from the company’s current price.

SNN has been the topic of a number of other research reports. Berenberg Bank cut shares of Smith & Nephew from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lowered shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, StockNews.com downgraded Smith & Nephew from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Smith & Nephew Stock Up 0.2 %

Shares of Smith & Nephew stock opened at $28.97 on Wednesday. The stock has a market capitalization of $12.66 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.26 and a beta of 0.84. Smith & Nephew has a twelve month low of $23.65 and a twelve month high of $31.72. The company has a current ratio of 2.51, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. The business’s 50 day simple moving average is $25.28 and its 200-day simple moving average is $27.24.

Hedge Funds Weigh In On Smith & Nephew

Several hedge funds have recently modified their holdings of the company. Principal Securities Inc. boosted its stake in Smith & Nephew by 87.6% during the fourth quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 691 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Smith & Nephew in the fourth quarter worth $41,000. National Bank of Canada FI grew 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 buying an additional 446 shares in the last quarter. Hara Capital LLC raised its position in 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 buying an additional 1,957 shares during the period. Finally, GAMMA Investing LLC raised its position in 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 buying an additional 718 shares during the period. 25.64% of the stock is currently owned by institutional investors and hedge funds.

About Smith & Nephew

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.