Smith & Nephew SNATS (NYSE:SNN) Sees Strong Trading Volume – Here’s Why

Shares of Smith & Nephew SNATS, Inc. (NYSE:SNN) saw unusually-high trading volume on Tuesday . 1,723,996 shares were traded during trading, an increase of 38% from the previous session’s volume of 1,248,832 shares.The stock last traded at $27.8150 and had previously closed at $28.87.

Wall Street Analyst Weigh In

SNN has been the subject of a number of analyst reports. Bank of America lowered Smith & Nephew SNATS from a “buy” rating to a “neutral” rating in a research report on Tuesday. Zacks Research cut shares of Smith & Nephew SNATS from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Sanford C. Bernstein set a $31.85 target price on shares of Smith & Nephew SNATS in a research report on Monday, May 11th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Smith & Nephew SNATS in a research note on Thursday, August 6th. Finally, Kepler Capital Markets downgraded shares of Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $30.93.

Smith & Nephew SNATS Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 2.14 and a quick ratio of 1.11. The business’s 50 day moving average is $30.08 and its 200 day moving average is $31.37.

Smith & Nephew SNATS Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Clearstead Trust LLC bought a new position in Smith & Nephew SNATS in the 2nd quarter worth $25,000. Arax Advisory Partners lifted its position in shares of Smith & Nephew SNATS by 142.6% during the 4th quarter. Arax Advisory Partners now owns 968 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 569 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in Smith & Nephew SNATS during the 4th quarter valued at approximately $36,000. Caitong International Asset Management Co. Ltd acquired a new stake in Smith & Nephew SNATS in the 3rd quarter valued at approximately $41,000. Finally, Addison Advisors LLC acquired a new position in shares of Smith & Nephew SNATS during the second quarter worth approximately $43,000. Institutional investors and hedge funds own 25.64% of the company’s stock.

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.