Smith & Nephew SNATS (NYSE:SNN) Reaches New 12-Month Low Following Analyst Downgrade

Smith & Nephew SNATS, Inc. (NYSE:SNN)’s share price reached a new 52-week low during trading on Wednesday after Bank of America downgraded the stock from a buy rating to a neutral rating. The company traded as low as $27.57 and last traded at $27.8350, with a volume of 3636722 shares. The stock had previously closed at $28.87.

SNN has been the subject of a number of other research reports. Zacks Research lowered Smith & Nephew SNATS from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Canaccord Genuity Group lowered their price target on Smith & Nephew SNATS from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, May 11th. Weiss Ratings raised Smith & Nephew SNATS from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, September 4th. Wall Street Zen downgraded Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research note on Saturday, September 5th. Finally, Kepler Capital Markets lowered Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $30.93.

Institutional Investors Weigh In On Smith & Nephew SNATS

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

Smith & Nephew SNATS Price Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 2.14. The stock has a 50 day moving average price of $30.04 and a two-hundred day moving average price of $31.25.

Smith & Nephew SNATS Announces Dividend

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 $0.312 dividend. The ex-dividend date is Friday, October 2nd. This represents a 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.