In a report released today, Kyle Rose from Canaccord Genuity maintained a Buy rating on Smith & Nephew Snats (NYSE: SNN), with a price target of $42. The company’s shares opened today at $36.43.
Rose noted:
“We remain positive on the outlook for Smith & Nephew despite a weak start to 2018 that admittedly feels like the company took a step backward in on key objectives – accelerating top-line growth and trading profit expansion. While disappointed by tepid/ flat results in key segments – underlying US and other established markets down 2% Y/ Y and recon was flat Y/Y – we continue to think company’s comprehensive and (in our view) differentiated product portfolio can support market share gains through 2018 and beyond (albeit to a lesser degree in the near term given Q1 results). To that end, we look for execution in the H2/18, which should benefit from typical procedural seasonality as well as one additional selling day.”
According to TipRanks.com, Rose is a 5-star analyst with an average return of 11.2% and a 57.1% success rate. Rose covers the Healthcare sector, focusing on stocks such as Obalon Therapeutics Inc, Zimmer Biomet Holdings, and Stryker Corporation.
Smith & Nephew Snats has an analyst consensus of Moderate Buy, with a price target consensus of $42.
See today’s analyst top recommended stocks >>
The company has a one-year high of $40.43 and a one-year low of $33.05. Currently, Smith & Nephew Snats has an average volume of 888.8K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Smith & Nephew Plc engages in the development, manufacture, marketing, and sale of medical devices. It offers the following products and services: sports medicine joint repair; arthroscopic enabling technologies; trauma and extremities; other surgical businesses; knee and hip implants, and advanced wound care, wound bioactives, and wound devices.
