Smith & Nephew (SNN) Receives Buy Rating from Canaccord Genuity

Canaccord Genuity reiterated their buy rating on shares of Smith & Nephew (NYSE:SNN) in a report published on Monday, April 8th, Stock Target Advisor reports. Canaccord Genuity currently has a $10.00 price objective on the medical equipment provider’s stock.

Several other brokerages have also recently weighed in on SNN. Zacks Investment Research raised shares of Smith & Nephew from a sell rating to a hold rating in a research report on Friday, January 11th. Morgan Stanley raised shares of Smith & Nephew from an equal weight rating to an overweight rating in a research report on Monday, December 10th. JPMorgan Chase & Co. cut shares of Smith & Nephew from an overweight rating to a neutral rating in a research report on Tuesday, January 1st. Finally, BNP Paribas cut shares of Smith & Nephew from an outperform rating to a neutral rating in a research report on Friday, February 8th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $25.50.

NYSE SNN traded up $1.76 during trading hours on Monday, hitting $42.20. The company’s stock had a trading volume of 1,256,994 shares, compared to its average volume of 606,215. Smith & Nephew has a 52 week low of $32.22 and a 52 week high of $42.20. The stock has a market cap of $18.46 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 2.98 and a beta of 0.42. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.15 and a current ratio of 2.10.

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

Several institutional investors have recently bought and sold shares of SNN. Pinnacle Bank bought a new position in shares of Smith & Nephew during the 4th quarter worth approximately $31,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Smith & Nephew during the 4th quarter worth approximately $42,000. Liberty Wealth Management LLC purchased a new stake in shares of Smith & Nephew during the 4th quarter worth approximately $46,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Smith & Nephew during the 4th quarter worth approximately $52,000. Finally, Enlightenment Research LLC purchased a new stake in shares of Smith & Nephew during the 4th quarter worth approximately $52,000. 9.09% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Smith & Nephew (NYSE:SNN)

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