Smith & Nephew SNATS (NYSE:SNN) Sets New 52-Week Low on Analyst Downgrade

Shares of Smith & Nephew SNATS, Inc. (NYSE:SNN) reached a new 52-week low during mid-day trading on Thursday after Morgan Stanley downgraded the stock from an overweight rating to an equal weight rating. The stock traded as low as $28.48 and last traded at $28.6640, with a volume of 610203 shares trading hands. The stock had previously closed at $28.66.

Several other equities analysts also recently weighed in on the company. BTIG Research began coverage on Smith & Nephew SNATS in a research report on Monday. They issued a “neutral” rating for the company. Weiss Ratings lowered shares of Smith & Nephew SNATS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Canaccord Genuity Group dropped their price objective on shares of Smith & Nephew SNATS from $32.00 to $30.00 and set a “hold” rating for the company in a report on Monday, May 11th. Barclays downgraded shares of Smith & Nephew SNATS from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, August 5th. Finally, Sanford C. Bernstein set a $31.85 target price on shares of Smith & Nephew SNATS in a report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $30.93.

Hedge Funds Weigh In On Smith & Nephew SNATS

Several hedge funds and other institutional investors have recently made changes to their positions in SNN. Royal Bank of Canada increased its stake in shares of Smith & Nephew SNATS by 16.7% during the first quarter. Royal Bank of Canada now owns 340,428 shares of the medical equipment provider’s stock worth $9,657,000 after buying an additional 48,784 shares during the period. Goldman Sachs Group Inc. lifted its stake in Smith & Nephew SNATS by 49.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,771,401 shares of the medical equipment provider’s stock worth $50,255,000 after acquiring an additional 583,809 shares during the last quarter. Focus Partners Wealth grew its holdings in Smith & Nephew SNATS by 59.8% during the 1st quarter. Focus Partners Wealth now owns 19,438 shares of the medical equipment provider’s stock worth $552,000 after acquiring an additional 7,277 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Smith & Nephew SNATS by 5.9% in the 2nd quarter. Cetera Investment Advisers now owns 17,731 shares of the medical equipment provider’s stock valued at $543,000 after purchasing an additional 983 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Smith & Nephew SNATS by 219.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,261 shares of the medical equipment provider’s stock valued at $161,000 after purchasing an additional 3,613 shares during the last quarter. Hedge funds and other institutional investors own 25.64% of the company’s stock.

Smith & Nephew SNATS Trading Up 0.3%

The stock’s fifty day moving average price is $30.17 and its two-hundred day moving average price is $31.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.14 and a quick ratio of 1.11.

Smith & Nephew SNATS Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 2nd will be paid a $0.312 dividend. The ex-dividend date is Friday, October 2nd. This represents a yield of 205.0%.

About Smith & Nephew SNATS

Smith & Nephew plc is a global medical technology company specializing in the design, development and manufacture of advanced surgical devices, orthopaedic reconstruction implants, trauma and extremities products, sports medicine solutions and wound care therapies. Founded in 1856 in Hull, United Kingdom, the company has grown through both organic innovation and strategic acquisitions to offer a broad portfolio that addresses patient needs across joint replacement, minimally invasive surgery and wound healing.

In its orthopaedics business, Smith & Nephew provides hip and knee replacement systems, modular joint revision implants and biologic solutions for bone repair.