SummitTX Capital L.P. Makes New Investment in Smith & Nephew SNATS, Inc. $SNN

SummitTX Capital L.P. bought a new stake in shares of Smith & Nephew SNATS, Inc. (NYSE:SNN) during the first quarter, Holdings Channel.com reports. The fund bought 22,837 shares of the medical equipment provider’s stock, valued at approximately $726,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. GC Wealth Management RIA LLC lifted its holdings in Smith & Nephew SNATS by 34.1% in the first quarter. GC Wealth Management RIA LLC now owns 14,040 shares of the medical equipment provider’s stock worth $446,000 after buying an additional 3,574 shares during the period. Sei Investments Co. grew its holdings in shares of Smith & Nephew SNATS by 29.1% during the 1st quarter. Sei Investments Co. now owns 127,719 shares of the medical equipment provider’s stock worth $4,059,000 after acquiring an additional 28,811 shares during the period. Cetera Investment Advisers raised its position in shares of Smith & Nephew SNATS by 17.5% in the 1st quarter. Cetera Investment Advisers now owns 24,256 shares of the medical equipment provider’s stock worth $771,000 after acquiring an additional 3,617 shares in the last quarter. NewEdge Wealth LLC lifted its stake in shares of Smith & Nephew SNATS by 64.8% in the 1st quarter. NewEdge Wealth LLC now owns 18,105 shares of the medical equipment provider’s stock valued at $575,000 after purchasing an additional 7,116 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Smith & Nephew SNATS by 55.2% in the 1st quarter. First Trust Advisors LP now owns 14,758 shares of the medical equipment provider’s stock valued at $469,000 after purchasing an additional 5,249 shares during the period. Hedge funds and other institutional investors own 25.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SNN shares. Weiss Ratings cut Smith & Nephew SNATS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Sanford C. Bernstein set a $31.85 price objective on Smith & Nephew SNATS in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Smith & Nephew SNATS from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Smith & Nephew SNATS in a research report on Monday, May 25th. Finally, Kepler Capital Markets lowered shares of Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.93.

Smith & Nephew SNATS Price Performance

NYSE SNN opened at $32.35 on Friday. Smith & Nephew SNATS, Inc. has a 12 month low of $28.56 and a 12 month high of $38.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.57 and a quick ratio of 1.25. The stock’s fifty day moving average price is $30.39 and its 200-day moving average price is $32.21.

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.