Smith & Nephew SNATS (NYSE:SNN) Sees Strong Trading Volume – What’s Next?

Smith & Nephew SNATS, Inc. (NYSE:SNN) saw unusually-strong trading volume on Tuesday . Approximately 824,135 shares were traded during mid-day trading, a decline of 18% from the previous session’s volume of 1,003,425 shares.The stock last traded at $30.52 and had previously closed at $30.53.

Wall Street Analysts Forecast Growth

Several analysts have commented on SNN shares. Weiss Ratings restated a “hold (c+)” rating on shares of Smith & Nephew SNATS in a report on Monday, April 20th. The Goldman Sachs Group restated a “buy” rating on shares of Smith & Nephew SNATS in a report on Monday. Wall Street Zen lowered shares of Smith & Nephew SNATS from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Sanford C. Bernstein set a $31.85 price objective on shares of Smith & Nephew SNATS in a report on Monday, May 11th. Finally, Canaccord Genuity Group lowered their price objective on shares of Smith & Nephew SNATS from $32.00 to $30.00 and set a “hold” rating for the company in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Smith & Nephew SNATS presently has an average rating of “Moderate Buy” and an average target price of $30.93.

Smith & Nephew SNATS Stock Down 1.5%

The business’s fifty day moving average is $31.75 and its two-hundred day moving average is $33.05. 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 (NYSE:SNN) last announced its quarterly earnings data on Tuesday, February 17th. The medical equipment provider reported $29.55 earnings per share for the quarter. The firm had revenue of $1.60 billion during the quarter. Sell-side analysts expect that Smith & Nephew SNATS, Inc. will post 2.25 earnings per share for the current fiscal year.

Smith & Nephew SNATS Dividend Announcement

The company also recently disclosed a dividend, which was paid on Wednesday, May 27th. Investors of record on Friday, March 27th were issued a $0.482 dividend. This represents a yield of 304.0%. The ex-dividend date was Friday, March 27th.

Hedge Funds Weigh In On Smith & Nephew SNATS

Hedge funds have recently added to or reduced their stakes in the company. Garner Asset Management Corp purchased a new position in Smith & Nephew SNATS in the 4th quarter worth approximately $27,000. 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 worth $32,000 after purchasing an additional 569 shares during the period. Advisors Asset Management Inc. bought a new stake in Smith & Nephew SNATS in the 4th quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd bought a new stake in Smith & Nephew SNATS in the 3rd quarter worth approximately $41,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Smith & Nephew SNATS in the 4th quarter worth approximately $43,000. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

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.