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

Smith & Nephew (NYSE:SNN)‘s stock had its “hold” rating reissued by stock analysts at Canaccord Genuity Group in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $27.00 price target on the medical equipment provider’s stock. Canaccord Genuity Group’s price objective would indicate a potential downside of 6.44% from the company’s current price.

Other analysts have also recently issued research reports about the company. StockNews.com upgraded Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 26th. UBS Group cut Smith & Nephew from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.00.

Smith & Nephew Stock Performance

Shares of SNN traded up $0.29 during midday trading on Monday, reaching $28.86. 203,418 shares of the stock were exchanged, compared to its average volume of 816,145. The business’s 50-day moving average price is $26.35 and its 200 day moving average price is $27.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11. Smith & Nephew has a twelve month low of $23.65 and a twelve month high of $31.72. The company has a market capitalization of $12.62 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 1.26 and a beta of 0.83.

Hedge Funds Weigh In On Smith & Nephew

Several institutional investors have recently added to or reduced their stakes in SNN. PNC Financial Services Group Inc. boosted its holdings in Smith & Nephew by 4.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,120 shares of the medical equipment provider’s stock valued at $224,000 after purchasing an additional 399 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Smith & Nephew by 36.5% during the 4th quarter. National Bank of Canada FI now owns 1,667 shares of the medical equipment provider’s stock worth $41,000 after acquiring an additional 446 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Smith & Nephew by 3.5% during the 4th quarter. Bleakley Financial Group LLC now owns 17,704 shares of the medical equipment provider’s stock worth $435,000 after acquiring an additional 596 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Smith & Nephew by 4.3% during the 4th quarter. Signaturefd LLC now owns 15,772 shares of the medical equipment provider’s stock worth $388,000 after acquiring an additional 653 shares in the last quarter. Finally, Principal Securities Inc. boosted its stake in shares of Smith & Nephew by 87.6% during the 4th quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 691 shares in the last quarter. Institutional investors and hedge funds own 25.64% of the company’s stock.

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.