Canaccord Genuity Increases Smith & Nephew (SNN) Price Target to $45.00

Smith & Nephew (NYSE:SNN) had its price target hoisted by Canaccord Genuity from $43.00 to $45.00 in a report issued on Thursday, BenzingaRatingsTable reports. They currently have a buy rating on the medical equipment provider’s stock.

A number of other research analysts have also recently commented on the company. Zacks Investment Research cut Smith & Nephew from a buy rating to a hold rating in a report on Wednesday, January 2nd. JPMorgan Chase & Co. cut Smith & Nephew from an overweight rating to a neutral rating in a report on Tuesday, January 1st. Finally, BNP Paribas cut Smith & Nephew from an outperform rating to a neutral rating in a report on Friday, February 8th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Smith & Nephew has an average rating of Hold and an average price target of $45.00.

NYSE SNN traded up $0.37 during trading hours on Thursday, reaching $39.04. The company’s stock had a trading volume of 12,968 shares, compared to its average volume of 600,756. The company has a current ratio of 2.10, a quick ratio of 1.15 and a debt-to-equity ratio of 0.27. Smith & Nephew has a 1 year low of $32.22 and a 1 year high of $40.78. The stock has a market cap of $16.79 billion, a PE ratio of 19.32, a P/E/G ratio of 2.93 and a beta of 0.44.

The company also recently disclosed a semiannual dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, April 5th will be issued a dividend of $0.44 per share. This represents a dividend yield of 2.31%. This is a boost from Smith & Nephew’s previous semiannual dividend of $0.25. The ex-dividend date is Thursday, April 4th. Smith & Nephew’s dividend payout ratio is 42.57%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Iridian Asset Management LLC CT purchased a new stake in shares of Smith & Nephew during the 4th quarter worth approximately $100,574,000. Foresters Investment Management Company Inc. raised its holdings in shares of Smith & Nephew by 49.3% during the 4th quarter. Foresters Investment Management Company Inc. now owns 840,850 shares of the medical equipment provider’s stock worth $31,431,000 after acquiring an additional 277,750 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Smith & Nephew by 1.1% during the 4th quarter. Northern Trust Corp now owns 717,704 shares of the medical equipment provider’s stock worth $26,828,000 after acquiring an additional 7,635 shares in the last quarter. Nicholas Company Inc. raised its holdings in shares of Smith & Nephew by 6.1% during the 4th quarter. Nicholas Company Inc. now owns 461,805 shares of the medical equipment provider’s stock worth $17,262,000 after acquiring an additional 26,460 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Smith & Nephew by 506.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 391,860 shares of the medical equipment provider’s stock worth $14,648,000 after acquiring an additional 327,276 shares in the last quarter. 9.39% of the stock is currently owned by institutional investors and hedge funds.

About Smith & Nephew

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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Analyst Recommendations for Smith & Nephew (NYSE:SNN)

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