Smith & Nephew SNATS (NYSE:SNN) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Smith & Nephew SNATS (NYSE:SNN) from a buy rating to a hold rating in a research note issued to investors on Sunday morning.

Other equities research analysts have also issued research reports about the stock. Sanford C. Bernstein set a $31.85 price objective on shares of Smith & Nephew SNATS in a report on Monday, May 11th. Weiss Ratings cut shares of Smith & Nephew SNATS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. The Goldman Sachs Group restated a “buy” rating on shares of Smith & Nephew SNATS in a report on Monday, May 25th. Barclays cut Smith & Nephew SNATS from an “equal weight” rating to an “underweight” rating in a report on Wednesday, August 5th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Smith & Nephew SNATS in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Smith & Nephew SNATS has an average rating of “Hold” and an average price target of $30.93.

Smith & Nephew SNATS Stock Performance

NYSE:SNN opened at $30.17 on Friday. Smith & Nephew SNATS has a one year low of $28.56 and a one year high of $38.79. 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 stock has a 50 day moving average price of $30.41 and a 200 day moving average price of $31.96.

Smith & Nephew SNATS Dividend Announcement

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

Hedge Funds Weigh In On Smith & Nephew SNATS

Hedge funds have recently made changes to their positions in the stock. Clearstead Trust LLC purchased a new stake in shares of Smith & Nephew SNATS during the second quarter worth $25,000. Garner Asset Management Corp purchased a new position in Smith & Nephew SNATS in the fourth quarter valued at $27,000. Arax Advisory Partners grew its stake in Smith & Nephew SNATS by 142.6% during the 4th quarter. Arax Advisory Partners now owns 968 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 569 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in Smith & Nephew SNATS during the 4th quarter worth $36,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Smith & Nephew SNATS during the 3rd quarter worth about $41,000. Hedge funds and other institutional investors own 25.64% of the company’s stock.

Smith & Nephew SNATS Company Profile

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.