Smith & Nephew SNATS (NYSE:SNN) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen lowered shares of Smith & Nephew SNATS (NYSE:SNN) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

A number of other analysts have also issued reports on SNN. Canaccord Genuity Group reduced their target price on Smith & Nephew SNATS from $32.00 to $30.00 and set a “hold” rating for the company in a report on Monday, May 11th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Smith & Nephew SNATS in a report on Thursday. Barclays lowered shares of Smith & Nephew SNATS from an “equal weight” rating to an “underweight” 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, Weiss Ratings lowered shares of Smith & Nephew SNATS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Smith & Nephew SNATS has an average rating of “Hold” and an average price target of $30.93.

Smith & Nephew SNATS Stock Performance

Shares of NYSE:SNN opened at $30.10 on Friday. The firm has a 50 day simple moving average of $30.46 and a 200 day simple moving average of $32.12. Smith & Nephew SNATS has a 52 week low of $28.56 and a 52 week high of $38.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.25 and a current ratio of 2.14.

Smith & Nephew SNATS Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.312 per share. This represents a dividend yield of 205.0%. The ex-dividend date is Friday, October 2nd.

Hedge Funds Weigh In On Smith & Nephew SNATS

A number of hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in Smith & Nephew SNATS by 16.7% in the first quarter. Royal Bank of Canada now owns 340,428 shares of the medical equipment provider’s stock valued at $9,657,000 after acquiring an additional 48,784 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Smith & Nephew SNATS by 49.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,771,401 shares of the medical equipment provider’s stock valued at $50,255,000 after purchasing an additional 583,809 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of Smith & Nephew SNATS by 59.8% in the 1st quarter. Focus Partners Wealth now owns 19,438 shares of the medical equipment provider’s stock valued at $552,000 after purchasing an additional 7,277 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Smith & Nephew SNATS by 5.9% in the second quarter. Cetera Investment Advisers now owns 17,731 shares of the medical equipment provider’s stock worth $543,000 after purchasing an additional 983 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Smith & Nephew SNATS by 219.2% during the second quarter. EverSource Wealth Advisors LLC now owns 5,261 shares of the medical equipment provider’s stock worth $161,000 after buying an additional 3,613 shares during the last quarter. Institutional investors and hedge funds own 25.64% of the company’s stock.

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.