555,999 Shares in Smith & Nephew SNATS, Inc. $SNN Bought by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company purchased 555,999 shares of Smith & Nephew SNATS, valued at approximately $34.9 million and representing about 0.13% of the company.
• Several other institutional investors also initiated or increased positions, with institutional investors and hedge funds collectively owning 25.64% of the stock.
• Shares opened at $29.32, near the lower end of their 52-week range. Analysts have an average “Hold” rating and a consensus price target of $30.93.

The Manufacturers Life Insurance Company purchased a new stake in Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 555,999 shares of the medical equipment provider's stock, valued at approximately $34,872,000. The Manufacturers Life Insurance Company owned about 0.13% of Smith & Nephew SNATS at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Clearstead Trust LLC bought a new stake in Smith & Nephew SNATS in the second quarter valued at approximately $25,000. Garner Asset Management Corp acquired a new position in shares of Smith & Nephew SNATS in the 4th quarter valued at $27,000. Arax Advisory Partners increased its position in shares of Smith & Nephew SNATS by 142.6% in the 4th quarter. Arax Advisory Partners now owns 968 shares of the medical equipment provider's stock valued at $32,000 after buying an additional 569 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Smith & Nephew SNATS in the 4th quarter valued at $36,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Smith & Nephew SNATS during the 3rd quarter worth $41,000. 25.64% of the stock is currently owned by institutional investors and hedge funds.

Smith & Nephew SNATS Stock Up 0.3%

Shares of NYSE SNN opened at $29.32 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.14 and a quick ratio of 1.11. The stock has a 50 day moving average price of $30.26 and a 200 day moving average price of $31.74. Smith & Nephew SNATS, Inc. has a 52 week low of $28.56 and a 52 week high of $38.79.

Smith & Nephew SNATS Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Canaccord Genuity Group dropped their price target on Smith & Nephew SNATS from $32.00 to $30.00 and set a "hold" rating on the stock in a research report on Monday, May 11th. Sanford C. Bernstein set a $31.85 price objective on Smith & Nephew SNATS in a research report on Monday, May 11th. Weiss Ratings cut Smith & Nephew SNATS from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, June 11th. Kepler Capital Markets downgraded shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a report on Thursday, June 4th. Finally, Morgan Stanley restated an "overweight" rating on shares of Smith & Nephew SNATS in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Smith & Nephew SNATS presently has an average rating of "Hold" and a consensus price target of $30.93.

Smith & Nephew SNATS 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.

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