Smith & Nephew SNATS (NYSE:SNN) Hits New 12-Month High Following Analyst Upgrade

Shares of Smith & Nephew SNATS, Inc. (NYSE:SNN) hit a new 52-week high during trading on Tuesday after Canaccord Genuity Group raised their price target on the stock from $28.00 to $36.00. Canaccord Genuity Group currently has a hold rating on the stock. Smith & Nephew SNATS traded as high as $36.86 and last traded at $36.81, with a volume of 223971 shares. The stock had previously closed at $36.29.

Other research analysts have also recently issued reports about the company. Hsbc Global Res cut Smith & Nephew SNATS from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 25th. HSBC cut Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Friday, April 25th. Six analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Smith & Nephew SNATS currently has an average rating of “Hold” and an average target price of $36.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Evergreen Capital Management LLC lifted its holdings in shares of Smith & Nephew SNATS by 37.8% during the second quarter. Evergreen Capital Management LLC now owns 11,936 shares of the medical equipment provider’s stock valued at $366,000 after acquiring an additional 3,276 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Smith & Nephew SNATS by 507.8% during the second quarter. Tower Research Capital LLC TRC now owns 355,913 shares of the medical equipment provider’s stock valued at $10,902,000 after acquiring an additional 297,359 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of Smith & Nephew SNATS by 100.8% during the second quarter. Corient Private Wealth LLC now owns 47,388 shares of the medical equipment provider’s stock valued at $1,451,000 after acquiring an additional 23,788 shares during the period. Vident Advisory LLC lifted its holdings in shares of Smith & Nephew SNATS by 28.8% during the second quarter. Vident Advisory LLC now owns 19,855 shares of the medical equipment provider’s stock valued at $608,000 after acquiring an additional 4,445 shares during the period. Finally, Orion Porfolio Solutions LLC bought a new position in shares of Smith & Nephew SNATS during the second quarter valued at $237,000. 25.64% of the stock is owned by institutional investors.

Smith & Nephew SNATS Stock Performance

The company has a market capitalization of $16.15 billion, a P/E ratio of 17.07, a PEG ratio of 1.00 and a beta of 0.68. The company has a quick ratio of 1.40, a current ratio of 3.00 and a debt-to-equity ratio of 0.60. The stock has a fifty day simple moving average of $31.51 and a 200-day simple moving average of $29.00.

Smith & Nephew SNATS Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 3rd will be paid a $0.285 dividend. The ex-dividend date is Friday, October 3rd. This represents a dividend yield of 210.0%. Smith & Nephew SNATS’s dividend payout ratio (DPR) is 26.39%.

Smith & Nephew SNATS Company Profile

Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT.