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

Smith & Nephew SNATS, Inc. (NYSE:SNN) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $27.05 and last traded at $27.0610, with a volume of 130820 shares changing hands. The stock had previously closed at $27.50.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SNN shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Smith & Nephew SNATS in a report on Thursday, August 6th. BTIG Research initiated coverage on Smith & Nephew SNATS in a report on Monday, August 31st. They set a “neutral” rating on the stock. Berenberg Bank set a $33.88 target price on shares of Smith & Nephew SNATS in a research report on Friday, September 11th. Morgan Stanley downgraded shares of Smith & Nephew SNATS from an “overweight” rating to an “equal weight” rating in a report on Wednesday, September 2nd. Finally, Weiss Ratings raised shares of Smith & Nephew SNATS from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, September 4th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Smith & Nephew SNATS presently has an average rating of “Hold” and a consensus target price of $31.91.

Smith & Nephew SNATS Stock Performance

The company has a quick ratio of 1.11, a current ratio of 2.14 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average price is $29.57 and its 200 day moving average price is $30.71.

Smith & Nephew SNATS Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 2nd will be given a dividend of $0.312 per share. The ex-dividend date is Friday, October 2nd. This represents a yield of 205.0%.

Institutional Investors Weigh In On Smith & Nephew SNATS

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Smith & Nephew SNATS in the 2nd quarter worth approximately $505,323,000. River Road Asset Management LLC increased its stake in shares of Smith & Nephew SNATS by 13.8% in the 4th quarter. River Road Asset Management LLC now owns 3,169,644 shares of the medical equipment provider’s stock valued at $103,996,000 after acquiring an additional 384,926 shares during the last quarter. Bank of America Corp DE bought a new stake in Smith & Nephew SNATS in the second quarter valued at approximately $97,223,000. Bank of New York Mellon Corp bought a new position in Smith & Nephew SNATS during the second quarter worth about $89,325,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Smith & Nephew SNATS by 44.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,052,747 shares of the medical equipment provider’s stock valued at $33,436,000 after purchasing an additional 324,080 shares in the last quarter. Institutional investors and hedge funds own 25.64% of the company’s stock.

About Smith & Nephew SNATS

Smith & Nephew plc is a global medical technology company headquartered in the United Kingdom. Founded in 1856 by Thomas James Smith in Hull, the company initially operated as a pharmacy business before expanding into healthcare products and medical devices.

The company develops and manufactures technologies used in orthopaedic reconstruction, sports medicine, and advanced wound management. Its products include joint replacement systems, trauma and extremities devices, arthroscopic equipment, surgical repair technologies, wound dressings, negative-pressure wound therapy systems, and other products designed to support tissue healing and surgical care.

Smith & Nephew serves hospitals, healthcare professionals, and patients in markets around the world.