Market Overview

UPDATE: Piper Jaffray Reiterates Neutral Rating, Lowers PT on Smith & Nephew

Share:
Related SNN
US Stock Futures Surge Ahead Of Wholesale Inventories Report
Smith & Nephew Acquires Tauma and Orthopaedics Business of DeOst LLC and DC LLC; Terms Not Disclosed
10 Top Healthcare Dividend Dogs: 11% To 47.9% Upsides And 12.1% To 48.3% Net Gains As Of July 29 (Seeking Alpha)

In a report published Monday, Piper Jaffray & Co. reiterated its Neutral rating on Smith & Nephew (NYSE: SNN), but slightly lowered its price target from $54.00 to $53.00.

Piper Jaffray noted, “We are updating our estimates to account for the closing of the Bioventus deal. These changes include a reduction in our projected revenues for 2012 and 2013 of $90 mil and $171 mil, respectively. We have also trimmed our EPS estimates related to the deal, which includes reductions of 7c and 6c in 2012 and 2013, respectively, due to lower revenues partially offset by a $250 mil reduction in debt, funded in part from the proceeds of the deal. We remain Neutral on SNN, lowering our price target from $54 to $53, based on an unchanged 13.5x FY13 EPS.”

Smith & Nephew closed on Friday at $52.39.

Latest Ratings for SNN

DateFirmActionFromTo
Jul 2015BerenbergUpgradesBuy
Jun 2015UBSUpgradesNeutralBuy
Mar 2015Goldman SachsUpgradesNeutralBuy

View More Analyst Ratings for SNN
View the Latest Analyst Ratings

Posted-In: Piper Jaffray & Co.Analyst Color Price Target Analyst Ratings

 

Related Articles (SNN)

Get Benzinga's Newsletters