ABC Arbitrage SA Sells 467,275 Shares of Smith & Nephew SNATS, Inc. $SNN

ABC Arbitrage SA reduced its position in shares of Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) by 61.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 290,681 shares of the medical equipment provider's stock after selling 467,275 shares during the period. Smith & Nephew SNATS comprises 1.2% of ABC Arbitrage SA's investment portfolio, making the stock its 18th largest holding. ABC Arbitrage SA owned approximately 0.07% of Smith & Nephew SNATS worth $9,238,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNN. River Road Asset Management LLC boosted its holdings in 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 acquiring an additional 384,926 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Smith & Nephew SNATS by 5.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,053,726 shares of the medical equipment provider's stock worth $67,383,000 after buying an additional 100,697 shares during the period. Bank of America Corp DE increased its position in shares of Smith & Nephew SNATS by 139.9% during the third quarter. Bank of America Corp DE now owns 987,274 shares of the medical equipment provider's stock worth $35,828,000 after buying an additional 575,666 shares during the period. Todd Asset Management LLC raised its stake in Smith & Nephew SNATS by 30.2% during the fourth quarter. Todd Asset Management LLC now owns 944,578 shares of the medical equipment provider's stock worth $30,992,000 after buying an additional 219,348 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Smith & Nephew SNATS by 45.5% in the third quarter. BNP Paribas Financial Markets now owns 937,943 shares of the medical equipment provider's stock valued at $34,038,000 after buying an additional 293,418 shares during the period. 25.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on SNN. Weiss Ratings cut Smith & Nephew SNATS from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, June 11th. Sanford C. Bernstein set a $31.85 price objective on shares of Smith & Nephew SNATS in a research report on Monday, May 11th. Wall Street Zen upgraded Smith & Nephew SNATS from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 4th. Canaccord Genuity Group decreased their target price on Smith & Nephew SNATS from $32.00 to $30.00 and set a "hold" rating for the company in a research report on Monday, May 11th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Smith & Nephew SNATS in a report on Monday, May 25th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $30.93.

Smith & Nephew SNATS Price Performance

SNN opened at $31.08 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 2.57 and a debt-to-equity ratio of 0.60. Smith & Nephew SNATS, Inc. has a 1 year low of $28.56 and a 1 year high of $38.79. The firm's fifty day moving average price is $30.21 and its two-hundred day moving average price is $32.42.

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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