In a report released yesterday, 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 $35.66.
Rose wrote:
“We maintain our BUY rating following marketing meetings with management. We recently hosted a day of investor meetings with Smith & Nephew’s new CEO Cowdy, EVP Business Development and Corporate Affairs, and Andrew Swift, Head of IR, and came away incrementally more confident in SNN’s ability to deliver top-line growth ultimately supporting share momentum through H2/18 and beyond. Unsurprisingly, investor interest was focused on Mr. Nawana’s vision for the company and plans to unlock shareholder value with a renewed focus on execution and top-line growth. Specifically, a strategy of driving above market growth via a focus on key/differentiated products and a customer-centric shift in company culture and organizational structure, which ultimately should drive long-term margin expansion.”
According to TipRanks.com, Rose is a 5-star analyst with an average return of 13.2% and a 54.1% 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.
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Smith & Nephew Snats’ market cap is currently $15.71B and has a P/E ratio of 21.79. The company has a Price to Book ratio of 3.38.
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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.
