Smith & Nephew SNATS (NYSE:SNN) Reaches New 12-Month Low – Here’s Why

Smith & Nephew SNATS, Inc. (NYSE:SNN) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $28.93 and last traded at $28.8560, with a volume of 346336 shares changing hands. The stock had previously closed at $30.28.

Analysts Set New Price Targets

Several brokerages have weighed in on SNN. Weiss Ratings downgraded Smith & Nephew SNATS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Canaccord Genuity Group cut their price target on Smith & Nephew SNATS from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, May 11th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Smith & Nephew SNATS in a report on Monday, May 25th. Kepler Capital Markets cut shares of Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research note on Thursday, June 4th. Finally, Sanford C. Bernstein set a $31.85 price objective on shares of Smith & Nephew SNATS in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $30.93.

Smith & Nephew SNATS Stock Down 5.4%

The company’s 50 day moving average is $30.62 and its 200 day moving average is $32.60. The company has a quick ratio of 1.25, a current ratio of 2.57 and a debt-to-equity ratio of 0.60.

Smith & Nephew SNATS (NYSE:SNN) last released its quarterly earnings results 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. As a group, research analysts anticipate that Smith & Nephew SNATS, Inc. will post 2.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Smith & Nephew SNATS

A number of hedge funds and other institutional investors have recently modified their holdings of SNN. Royal Bank of Canada grew its stake in Smith & Nephew SNATS by 16.7% in the 1st quarter. Royal Bank of Canada now owns 340,428 shares of the medical equipment provider’s stock worth $9,657,000 after acquiring an additional 48,784 shares during the period. Goldman Sachs Group Inc. increased its stake in Smith & Nephew SNATS by 49.2% during the first quarter. Goldman Sachs Group Inc. now owns 1,771,401 shares of the medical equipment provider’s stock worth $50,255,000 after acquiring an additional 583,809 shares during the last quarter. Focus Partners Wealth increased its position in Smith & Nephew SNATS by 59.8% during the 1st quarter. Focus Partners Wealth now owns 19,438 shares of the medical equipment provider’s stock worth $552,000 after purchasing an additional 7,277 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Smith & Nephew SNATS by 5.9% in the 2nd quarter. Cetera Investment Advisers now owns 17,731 shares of the medical equipment provider’s stock valued at $543,000 after acquiring an additional 983 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Smith & Nephew SNATS by 219.2% in the second quarter. EverSource Wealth Advisors LLC now owns 5,261 shares of the medical equipment provider’s stock valued at $161,000 after purchasing an additional 3,613 shares during the period. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

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.