Smith & Nephew SNATS (NYSE:SNN) Trading Down 5.8% on Disappointing Earnings

Smith & Nephew SNATS, Inc. (NYSE:SNN) was down 5.8% on Tuesday following a dissappointing earnings announcement. The company traded as low as $30.14 and last traded at $30.29. 786,082 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 1,179,007 shares. The stock had previously closed at $32.15.

The medical equipment provider reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.46). The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.64 billion.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SNN shares. Wall Street Zen upgraded Smith & Nephew SNATS from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. The Goldman Sachs Group reiterated a “buy” rating on shares of Smith & Nephew SNATS in a research report on Monday, May 25th. Sanford C. Bernstein set a $31.85 price objective on shares of Smith & Nephew SNATS in a research note on Monday, May 11th. Kepler Capital Markets cut shares of Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research note on Thursday, June 4th. Finally, Weiss Ratings lowered Smith & Nephew SNATS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.93.

Institutional Trading of Smith & Nephew SNATS

A number of institutional investors and hedge funds have recently bought and sold shares of SNN. River Road Asset Management LLC lifted its stake in Smith & Nephew SNATS by 13.8% in the 4th quarter. River Road Asset Management LLC now owns 3,169,644 shares of the medical equipment provider’s stock worth $103,996,000 after purchasing an additional 384,926 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Smith & Nephew SNATS by 5.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,053,726 shares of the medical equipment provider’s stock valued at $67,383,000 after purchasing an additional 100,697 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Smith & Nephew SNATS by 44.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,052,747 shares of the medical equipment provider’s stock worth $33,436,000 after purchasing an additional 324,080 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Smith & Nephew SNATS by 139.9% in the third quarter. Bank of America Corp DE now owns 987,274 shares of the medical equipment provider’s stock worth $35,828,000 after purchasing an additional 575,666 shares during the last quarter. Finally, Todd Asset Management LLC lifted its position in shares of Smith & Nephew SNATS by 30.2% in the fourth quarter. Todd Asset Management LLC now owns 944,578 shares of the medical equipment provider’s stock worth $30,992,000 after buying an additional 219,348 shares in the last quarter. 25.64% of the stock is currently owned by institutional investors.

Smith & Nephew SNATS Trading Down 5.9%

The business has a 50-day moving average of $30.45 and a 200 day moving average of $32.19. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.57 and a quick ratio of 1.25.

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.