Envestnet Asset Management Inc. Lowers Stock Position in Smith & Nephew SNATS, Inc. $SNN

Envestnet Asset Management Inc. lowered its position in Smith & Nephew SNATS, Inc. (NYSE:SNN) by 12.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 543,661 shares of the medical equipment provider’s stock after selling 75,030 shares during the period. Envestnet Asset Management Inc. owned about 0.12% of Smith & Nephew SNATS worth $16,652,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its stake in Smith & Nephew SNATS by 18.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 63,314 shares of the medical equipment provider’s stock valued at $1,939,000 after buying an additional 9,724 shares during the last quarter. Bleakley Financial Group LLC increased its stake in Smith & Nephew SNATS by 19.8% in the 2nd quarter. Bleakley Financial Group LLC now owns 22,339 shares of the medical equipment provider’s stock valued at $684,000 after buying an additional 3,686 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in Smith & Nephew SNATS in the 2nd quarter valued at about $322,000. Moran Wealth Management LLC increased its position in shares of Smith & Nephew SNATS by 3.1% during the second quarter. Moran Wealth Management LLC now owns 121,052 shares of the medical equipment provider’s stock valued at $3,708,000 after acquiring an additional 3,667 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Smith & Nephew SNATS by 56.3% during the second quarter. Sequoia Financial Advisors LLC now owns 11,645 shares of the medical equipment provider’s stock valued at $357,000 after acquiring an additional 4,195 shares during the last quarter. Hedge funds and other institutional investors own 25.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Canaccord Genuity Group increased their price target on Smith & Nephew SNATS from $28.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, August 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Smith & Nephew SNATS in a research report on Wednesday, October 8th. Sanford C. Bernstein set a $37.50 target price on Smith & Nephew SNATS and gave the company a “market perform” rating in a research report on Tuesday, October 14th. Wall Street Zen downgraded shares of Smith & Nephew SNATS from a “strong-buy” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Smith & Nephew SNATS in a report on Monday, October 20th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.75.

Smith & Nephew SNATS Trading Down 0.4%

SNN opened at $36.86 on Thursday. Smith & Nephew SNATS, Inc. has a twelve month low of $23.69 and a twelve month high of $38.79. The company has a current ratio of 3.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $36.64 and a 200-day moving average price of $32.74.

Smith & Nephew SNATS 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.