Smith & Nephew SNATS (NYSE:SNN) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Smith & Nephew SNATS (NYSE:SNN) from a strong-buy rating to a buy rating in a report released on Saturday morning.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Smith & Nephew SNATS in a research note on Wednesday, January 21st. Canaccord Genuity Group upped their target price on shares of Smith & Nephew SNATS from $34.00 to $35.00 and gave the stock a “hold” rating in a research note on Thursday, March 5th. Finally, Royal Bank Of Canada downgraded shares of Smith & Nephew SNATS from an “outperform” rating to a “sector perform” rating in a report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $36.25.

Smith & Nephew SNATS Stock Performance

SNN stock opened at $31.97 on Friday. Smith & Nephew SNATS has a twelve month low of $23.91 and a twelve month high of $38.79. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.25 and a current ratio of 2.57. The stock’s 50 day moving average is $34.33 and its 200-day moving average is $34.56.

Smith & Nephew SNATS Announces Dividend

The business also recently announced a dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Friday, March 27th will be given a dividend of $0.482 per share. This represents a dividend yield of 281.0%. The ex-dividend date of this dividend is Friday, March 27th.

Institutional Investors Weigh In On Smith & Nephew SNATS

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Smith & Nephew SNATS by 6,663.4% in the second quarter. JPMorgan Chase & Co. now owns 1,210,655 shares of the medical equipment provider’s stock valued at $37,082,000 after buying an additional 1,192,755 shares during the period. Todd Asset Management LLC purchased a new stake in Smith & Nephew SNATS in the 3rd quarter worth about $26,319,000. Goldman Sachs Group Inc. increased its holdings in Smith & Nephew SNATS by 49.2% in the 1st 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. Bank of America Corp DE raised its stake in Smith & Nephew SNATS by 139.9% in the 3rd quarter. Bank of America Corp DE now owns 987,274 shares of the medical equipment provider’s stock valued at $35,828,000 after acquiring an additional 575,666 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in Smith & Nephew SNATS by 365.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 644,525 shares of the medical equipment provider’s stock valued at $19,742,000 after acquiring an additional 505,934 shares during the period. 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.