Smith & Nephew SNATS (NYSE:SNN) Cut to “Equal Weight” at Morgan Stanley

Morgan Stanley cut shares of Smith & Nephew SNATS (NYSE:SNN) from an overweight rating to an equal weight rating in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports.

A number of other equities research analysts also recently commented on the company. Barclays downgraded Smith & Nephew SNATS from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, August 5th. Kepler Capital Markets cut Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a report on Thursday, June 4th. Wall Street Zen raised Smith & Nephew SNATS from a “hold” rating to a “buy” rating in a research report on Monday, August 24th. Zacks Research cut shares of Smith & Nephew SNATS from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Smith & Nephew SNATS in a research note on Monday, May 25th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $30.93.

Smith & Nephew SNATS Stock Up 0.8%

NYSE SNN opened at $28.91 on Wednesday. The business has a fifty day moving average price of $30.11 and a 200 day moving average price of $31.45. 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 one year low of $28.48 and a one year high of $38.79.

Smith & Nephew SNATS Announces Dividend

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

Hedge Funds Weigh In On Smith & Nephew SNATS

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its holdings in Smith & Nephew SNATS by 16.7% in the first quarter. Royal Bank of Canada now owns 340,428 shares of the medical equipment provider’s stock valued at $9,657,000 after acquiring an additional 48,784 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Smith & Nephew SNATS by 49.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,771,401 shares of the medical equipment provider’s stock valued at $50,255,000 after purchasing an additional 583,809 shares during the last quarter. Focus Partners Wealth increased its position in shares of Smith & Nephew SNATS by 59.8% in the 1st quarter. Focus Partners Wealth now owns 19,438 shares of the medical equipment provider’s stock valued at $552,000 after purchasing an additional 7,277 shares during the last quarter. Cetera Investment Advisers raised its holdings 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 in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings 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 in the last quarter. 25.64% of the stock is owned by institutional investors and hedge funds.

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.