Smith & Nephew SNATS (NYSE:SNN) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Smith & Nephew SNATS (NYSE:SNN) from a strong sell rating to a hold rating in a research note published on Tuesday,Zacks reports.

Several other analysts also recently issued reports on the company. Canaccord Genuity Group dropped their price target on Smith & Nephew SNATS from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, May 11th. Sanford C. Bernstein set a $31.85 price target on shares of Smith & Nephew SNATS in a research report on Monday, May 11th. Wall Street Zen cut Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Saturday, September 5th. Bank of America cut shares of Smith & Nephew SNATS from a “buy” rating to a “neutral” rating in a research note on Tuesday. Finally, BTIG Research started coverage on Smith & Nephew SNATS in a report on Monday, August 31st. They set a “neutral” rating for the company. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $30.93.

Smith & Nephew SNATS Price Performance

NYSE SNN opened at $27.77 on Tuesday. 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 has a 50 day simple moving average of $30.04 and a 200 day simple moving average of $31.25. Smith & Nephew SNATS has a 52-week low of $27.56 and a 52-week high of $38.59.

Smith & Nephew SNATS Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, November 6th. Stockholders 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 dividend yield of 205.0%.

Institutional Trading of Smith & Nephew SNATS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNN. Clearstead Trust LLC acquired a new stake in Smith & Nephew SNATS in the second quarter valued at approximately $25,000. Addison Advisors LLC bought a new position in shares of Smith & Nephew SNATS in the 2nd quarter worth $43,000. Allworth Financial LP acquired a new stake in Smith & Nephew SNATS in the 2nd quarter valued at $48,000. Arax Advisory Partners grew its position in Smith & Nephew SNATS by 142.6% in the 4th 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 during the period. Finally, Advisors Asset Management Inc. bought a new stake in Smith & Nephew SNATS during the 4th quarter valued at $36,000. 25.64% of the stock is owned by 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.