Smith & Nephew (NYSE:SNN) Rating Lowered to Hold at Berenberg Bank

Smith & Nephew (NYSE:SNN - Get Free Report) was downgraded by investment analysts at Berenberg Bank from a "buy" rating to a "hold" rating in a report released on Wednesday, Marketbeat.com reports.

SNN has been the topic of several other research reports. StockNews.com upgraded shares of Smith & Nephew from a "buy" rating to a "strong-buy" rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft cut shares of Smith & Nephew from a "buy" rating to a "hold" rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Smith & Nephew has a consensus rating of "Moderate Buy".

Smith & Nephew Stock Down 4.2 %

Smith & Nephew stock traded down $1.08 during mid-day trading on Wednesday, hitting $24.48. 1,117,760 shares of the company's stock were exchanged, compared to its average volume of 861,991. Smith & Nephew has a fifty-two week low of $23.65 and a fifty-two week high of $31.72. The company's 50 day simple moving average is $29.62 and its 200-day simple moving average is $27.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 2.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in shares of Smith & Nephew during the 3rd quarter worth $792,000. Lorne Steinberg Wealth Management Inc. boosted its stake in Smith & Nephew by 53.6% in the second quarter. Lorne Steinberg Wealth Management Inc. now owns 231,045 shares of the medical equipment provider's stock worth $5,725,000 after purchasing an additional 80,650 shares in the last quarter. Clearbridge Investments LLC bought a new position in Smith & Nephew in the first quarter valued at about $2,612,000. Sanctuary Advisors LLC acquired a new position in shares of Smith & Nephew during the 2nd quarter worth about $627,000. Finally, Tocqueville Asset Management L.P. lifted its holdings in shares of Smith & Nephew by 294.9% during the 1st quarter. Tocqueville Asset Management L.P. now owns 224,441 shares of the medical equipment provider's stock valued at $5,692,000 after purchasing an additional 167,599 shares in the last quarter. Institutional investors and hedge funds own 25.64% of the company's stock.

Smith & Nephew Company Profile

Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices and services in the United Kingdom and internationally. It operates through three segments: Orthopaedics, Sports Medicine & ENT, and Advanced Wound Management. The company offers knee implant products for knee replacement procedures; hip implants for revision procedures; trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures; and other reconstruction products.