Smith & Nephew SNATS, Inc. (NYSE:SNN) Given Average Recommendation of “Reduce” by Analysts

Shares of Smith & Nephew SNATS, Inc. (NYSE:SNN) have earned a consensus rating of “Reduce” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $30.9250.

A number of research firms recently weighed in on SNN. Zacks Research cut Smith & Nephew SNATS from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Wall Street Zen upgraded Smith & Nephew SNATS from a “hold” rating to a “buy” rating in a research report on Monday, August 24th. Canaccord Genuity Group reduced their target price on Smith & Nephew SNATS from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, May 11th. Kepler Capital Markets lowered Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Thursday, June 4th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Smith & Nephew SNATS in a research note on Monday, May 25th.

Hedge Funds Weigh In On Smith & Nephew SNATS

Several hedge funds and other institutional investors have recently modified their holdings of the business. Corient Private Wealth LP lifted its position in Smith & Nephew SNATS by 3.7% during the second quarter. Corient Private Wealth LP now owns 26,018 shares of the medical equipment provider’s stock worth $750,000 after buying an additional 932 shares in the last quarter. Plan A Wealth LLC increased its stake in shares of Smith & Nephew SNATS by 16.5% in the 2nd quarter. Plan A Wealth LLC now owns 8,607 shares of the medical equipment provider’s stock worth $248,000 after acquiring an additional 1,221 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of Smith & Nephew SNATS during the 2nd quarter worth $313,000. Rakuten Investment Management Inc. acquired a new position in shares of Smith & Nephew SNATS during the 2nd quarter valued at about $732,000. Finally, Empowered Funds LLC purchased a new stake in shares of Smith & Nephew SNATS in the second quarter valued at about $824,000. 25.64% of the stock is owned by hedge funds and other institutional investors.

Smith & Nephew SNATS Price Performance

SNN stock opened at $28.66 on Friday. The company’s 50-day simple moving average is $30.13 and its 200-day simple moving average is $31.47. 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 has a 52-week low of $28.48 and a 52-week high of $38.79.

Smith & Nephew SNATS Dividend Announcement

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

Smith & Nephew SNATS Company Profile

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.