Smith & Nephew SNATS (NYSE:SNN) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Smith & Nephew SNATS (NYSE:SNN) from a buy rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Smith & Nephew SNATS in a research note on Thursday, August 6th. Canaccord Genuity Group dropped their price target on Smith & Nephew SNATS from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, May 11th. Morgan Stanley cut shares of Smith & Nephew SNATS from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Smith & Nephew SNATS in a research report on Monday, May 25th. Finally, Zacks Research cut Smith & Nephew SNATS from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Smith & Nephew SNATS currently has an average rating of “Reduce” and an average target price of $30.93.

Smith & Nephew SNATS Price Performance

SNN opened at $28.91 on Friday. The firm has a fifty day moving average price of $30.11 and a 200 day moving average price of $31.45. Smith & Nephew SNATS has a 1 year low of $28.48 and a 1 year high of $38.79. The company has a current ratio of 2.14, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

Smith & Nephew SNATS Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Clearstead Trust LLC acquired a new stake in shares of Smith & Nephew SNATS in the second quarter valued at $25,000. Arax Advisory Partners lifted its stake in 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 acquiring an additional 569 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in Smith & Nephew SNATS during the 4th quarter worth about $36,000. Caitong International Asset Management Co. Ltd purchased a new position in Smith & Nephew SNATS during the 3rd quarter valued at about $41,000. Finally, Addison Advisors LLC purchased a new position in Smith & Nephew SNATS during the 2nd quarter valued at about $43,000. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

About Smith & Nephew SNATS

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.