Smith & Nephew SNATS (NYSE:SNN) Hits New 52-Week High After Analyst Upgrade

Smith & Nephew SNATS, Inc. (NYSE:SNN) shares reached a new 52-week high 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.

SNN has been the subject of several other research reports. Hsbc Global Res cut shares of 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 note on Friday, April 25th. Six investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.00.

Institutional Investors Weigh In On Smith & Nephew SNATS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC grew its stake in shares of Smith & Nephew SNATS by 63.3% during the first quarter. Hexagon Capital Partners LLC now owns 1,047 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 406 shares during the last quarter. Richards Merrill & Peterson Inc. lifted its holdings in Smith & Nephew SNATS by 500.0% during the 1st quarter. Richards Merrill & Peterson Inc. now owns 1,200 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 1,000 shares in the last quarter. AlphaCore Capital LLC bought a new position in Smith & Nephew SNATS in the 2nd quarter valued at $44,000. Bessemer Group Inc. boosted its position in Smith & Nephew SNATS by 3,471.4% in the 1st quarter. Bessemer Group Inc. now owns 1,750 shares of the medical equipment provider’s stock valued at $49,000 after buying an additional 1,701 shares during the last quarter. Finally, Banque Transatlantique SA acquired a new stake in shares of Smith & Nephew SNATS in the 1st quarter valued at $52,000. Institutional investors and hedge funds own 25.64% of the company’s stock.

Smith & Nephew SNATS Trading Up 1.5%

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 company has a market cap of $16.39 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.02 and a beta of 0.68. The business has a 50-day moving average price of $31.65 and a two-hundred day moving average price of $29.06.

Smith & Nephew SNATS Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.285 per share. The ex-dividend date is Friday, October 3rd. This represents a yield of 210.0%. Smith & Nephew SNATS’s dividend payout ratio is presently 41.20%.

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.