Smith & Nephew SNATS (NYSE:SNN) Shares Gap Down – Should You Sell?

Smith & Nephew SNATS, Inc. (NYSE:SNN) shares gapped down prior to trading on Wednesday . The stock had previously closed at $30.19, but opened at $29.24. Smith & Nephew SNATS shares last traded at $29.7250, with a volume of 439,684 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SNN shares. Kepler Capital Markets cut shares of Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Thursday, June 4th. Weiss Ratings lowered shares of Smith & Nephew SNATS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Barclays lowered shares of Smith & Nephew SNATS from an “equal weight” rating to an “underweight” rating in a report on Wednesday, August 5th. Canaccord Genuity Group decreased their price target on Smith & Nephew SNATS from $32.00 to $30.00 and set a “hold” rating for the company in a report on Monday, May 11th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Smith & Nephew SNATS in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.93.

Smith & Nephew SNATS Trading Down 2.9%

The company has a current ratio of 2.14, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $30.41 and a 200-day simple moving average of $31.96.

Smith & Nephew SNATS Dividend Announcement

The business also recently announced a dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 2nd will be paid a dividend of $0.312 per share. The ex-dividend date of this dividend 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 bought and sold shares of SNN. BlackRock Inc. bought a new stake in Smith & Nephew SNATS during the 2nd quarter valued at $505,323,000. Bank of America Corp DE bought a new position in shares of Smith & Nephew SNATS in the second quarter valued at $97,223,000. Bank of New York Mellon Corp bought a new position in shares of Smith & Nephew SNATS in the second quarter valued at $89,325,000. Caisse de depot et placement du Quebec acquired a new position in shares of Smith & Nephew SNATS during the second quarter valued at about $64,186,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of 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 valued at $50,255,000 after buying an additional 583,809 shares during the last quarter. 25.64% of the stock is owned by 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.