Smith & Nephew SNATS (NYSE:SNN) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen downgraded 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 research analysts have also recently weighed in on SNN. Weiss Ratings restated a “hold (c+)” rating on shares of Smith & Nephew SNATS in a report on Monday, April 20th. Canaccord Genuity Group set a $32.00 price target on shares of Smith & Nephew SNATS in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $34.75.

Smith & Nephew SNATS Price Performance

Shares of NYSE SNN opened at $29.90 on Friday. The company has a 50-day moving average price of $33.05 and a 200-day moving average price of $33.65. Smith & Nephew SNATS has a 1 year low of $27.97 and a 1 year high of $38.79. The company has a current ratio of 2.57, a quick ratio of 1.25 and a debt-to-equity ratio of 0.60.

Smith & Nephew SNATS (NYSE:SNN) last released its quarterly earnings results on Tuesday, February 17th. The medical equipment provider reported $29.55 earnings per share for the quarter. The firm had revenue of $1.60 billion for the quarter. On average, sell-side analysts anticipate that Smith & Nephew SNATS will post 2.29 EPS for the current year.

Smith & Nephew SNATS Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Friday, March 27th will be paid a $0.482 dividend. This represents a yield of 304.0%. The ex-dividend date is Friday, March 27th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its stake in Smith & Nephew SNATS by 12.7% in the first quarter. PNC Financial Services Group Inc. now owns 13,295 shares of the medical equipment provider’s stock valued at $423,000 after acquiring an additional 1,494 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Smith & Nephew SNATS by 44.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,052,747 shares of the medical equipment provider’s stock valued at $33,436,000 after acquiring an additional 324,080 shares during the last quarter. Parallel Advisors LLC boosted its stake in Smith & Nephew SNATS by 20.0% in the first quarter. Parallel Advisors LLC now owns 2,322 shares of the medical equipment provider’s stock valued at $74,000 after acquiring an additional 387 shares during the last quarter. Gallacher Capital Management LLC purchased a new position in Smith & Nephew SNATS in the first quarter valued at about $377,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Smith & Nephew SNATS by 15.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,175 shares of the medical equipment provider’s stock valued at $359,000 after acquiring an additional 1,523 shares during the last quarter. 25.64% of the stock is currently owned by hedge funds and other 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.