1,550,110 Shares in Smith & Nephew SNATS, Inc. $SNN Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 1.55 million Smith & Nephew SNATS shares during the second quarter, valued at approximately $97.2 million and representing about 0.37% of the company.
• Several other institutions also built positions, including BlackRock’s approximately $505.3 million stake; institutional investors and hedge funds collectively own 25.64% of SNN.
• Analyst sentiment remains largely neutral, with a consensus “Hold” rating and a $31.91 price target, while SNN recently traded at $27.56—near its 52-week low.

Bank of America Corp DE bought a new stake in Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,550,110 shares of the medical equipment provider's stock, valued at approximately $97,223,000. Bank of America Corp DE owned about 0.37% of Smith & Nephew SNATS as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Smith & Nephew SNATS during the 2nd quarter valued at about $505,323,000. River Road Asset Management LLC increased its stake in shares of Smith & Nephew SNATS by 13.8% in the fourth 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 purchasing an additional 384,926 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Smith & Nephew SNATS in the second quarter valued at approximately $89,325,000. Caisse de depot et placement du Quebec bought a new stake in shares of Smith & Nephew SNATS during the second quarter valued at approximately $64,186,000. Finally, Legal & General Group Plc acquired a new position in shares of Smith & Nephew SNATS during the second quarter worth approximately $35,338,000. Institutional investors and hedge funds own 25.64% of the company's stock.

Analyst Ratings Changes

SNN has been the subject of several recent analyst reports. Wall Street Zen raised Smith & Nephew SNATS from a "hold" rating to a "buy" rating in a research note on Sunday, September 13th. Kepler Capital Markets cut shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research note on Thursday, June 4th. Berenberg Bank set a $33.88 price objective on shares of Smith & Nephew SNATS in a report on Friday, September 11th. BTIG Research assumed coverage on shares of Smith & Nephew SNATS in a research note on Monday, August 31st. They set a "neutral" rating on the stock. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Smith & Nephew SNATS in a research note on Monday, May 25th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $31.91.

Smith & Nephew SNATS Price Performance

NYSE:SNN opened at $27.56 on Friday. Smith & Nephew SNATS, Inc. has a 1 year low of $27.23 and a 1 year high of $37.51. The firm's fifty day simple moving average is $29.69 and its 200 day simple moving average is $30.87. The company has a current ratio of 2.14, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

Smith & Nephew SNATS Dividend Announcement

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

Smith & Nephew SNATS Company Profile

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.

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