Smith & Nephew (LON:SN) Raised to Buy at HSBC

HSBC upgraded shares of Smith & Nephew (LON:SN) to a buy rating in a research report report published on Monday, March 26th. HSBC currently has GBX 1,530 ($21.91) price target on the stock, up from their previous price target of GBX 1,320 ($18.90).

Other research analysts also recently issued research reports about the company. Morgan Stanley dropped their price target on Smith & Nephew from GBX 1,558 ($22.31) to GBX 1,457 ($20.86) and set an equal weight rating for the company in a research note on Tuesday, February 13th. Credit Suisse Group boosted their price target on Smith & Nephew from GBX 1,285 ($18.40) to GBX 1,290 ($18.47) and gave the company a neutral rating in a research note on Friday, February 9th. Finally, JPMorgan Chase reaffirmed an overweight rating and issued a GBX 1,411 ($20.20) price target on shares of Smith & Nephew in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of GBX 1,354.88 ($19.40).

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Shares of SN traded up GBX 7 ($0.10) during midday trading on Monday, reaching GBX 1,316.50 ($18.85). 3,122,415 shares of the stock were exchanged, compared to its average volume of 3,250,000. Smith & Nephew has a twelve month low of GBX 1,173 ($16.80) and a twelve month high of GBX 1,442 ($20.65).

The firm also recently announced a dividend, which will be paid on Wednesday, May 9th. Shareholders of record on Thursday, April 5th will be given a $0.23 dividend. This represents a yield of 1.34%. The ex-dividend date of this dividend is Thursday, April 5th. This is a boost from Smith & Nephew’s previous dividend of $0.12.

In other news, insider Graham Baker purchased 1,000 shares of Smith & Nephew stock in a transaction dated Tuesday, February 27th. The shares were bought at an average cost of GBX 1,283 ($18.37) per share, for a total transaction of £12,830 ($18,370.56). Also, insider Olivier Bohuon sold 8,171 shares of the business’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of GBX 1,301 ($18.63), for a total value of £106,304.71 ($152,211.78).

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Smith & Nephew Company Profile

Smith & Nephew plc designs, develops, 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.

Analyst Recommendations for Smith & Nephew (LON:SN)

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