Aberdeen Group plc Lowers Stake in Smith & Nephew SNATS, Inc. $SNN

Key Points

• Aberdeen Group plc has reduced its stake in Smith & Nephew SNATS, Inc. by 15.9%, holding 118,710 shares valued at approximately $3.37 million as of the latest SEC filing.
• Other institutional investors have significantly increased their positions, with Bessemer Group Inc. raising holdings by 3,471.4%, reflecting growing interest in the medical equipment provider.
• The company recently announced a semi-annual dividend of $0.285, representing a yield of 210.0%, while analysts have rated the stock with a consensus rating of "Hold" and a target price of $36.00.

Aberdeen Group plc reduced its position in Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) by 15.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,710 shares of the medical equipment provider's stock after selling 22,498 shares during the period. Aberdeen Group plc's holdings in Smith & Nephew SNATS were worth $3,368,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. J. Goldman & Co LP acquired a new stake in shares of Smith & Nephew SNATS during the fourth quarter valued at $47,700,000. Clark Estates Inc. NY boosted its stake in shares of Smith & Nephew SNATS by 6.3% during the first quarter. Clark Estates Inc. NY now owns 850,000 shares of the medical equipment provider's stock valued at $24,114,000 after acquiring an additional 50,000 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Smith & Nephew SNATS by 15.6% during the first quarter. Envestnet Asset Management Inc. now owns 618,691 shares of the medical equipment provider's stock valued at $17,552,000 after acquiring an additional 83,341 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Smith & Nephew SNATS by 169.9% during the fourth quarter. Northern Trust Corp now owns 508,392 shares of the medical equipment provider's stock valued at $12,496,000 after acquiring an additional 320,054 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Smith & Nephew SNATS by 19.5% during the first quarter. New York State Common Retirement Fund now owns 291,148 shares of the medical equipment provider's stock valued at $8,260,000 after acquiring an additional 47,567 shares during the last quarter. 25.64% of the stock is owned by hedge funds and other institutional investors.

Smith & Nephew SNATS Trading Up 0.5%

SNN stock traded up $0.19 during trading on Tuesday, reaching $37.34. 429,809 shares of the stock traded hands, compared to its average volume of 982,549. The business's 50 day moving average price is $32.29 and its 200-day moving average price is $29.41. Smith & Nephew SNATS, Inc. has a 52-week low of $23.69 and a 52-week high of $37.65. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.00 and a quick ratio of 1.40. The firm has a market capitalization of $16.36 billion, a PE ratio of 17.29, a P/E/G ratio of 1.02 and a beta of 0.68.

Smith & Nephew SNATS Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.285 per share. This represents a yield of 210.0%. The ex-dividend date of this dividend is Friday, October 3rd. Smith & Nephew SNATS's payout ratio is 41.20%.

Analysts Set New Price Targets

A number of analysts recently commented on SNN shares. Wall Street Zen lowered Smith & Nephew SNATS from a "strong-buy" rating to a "buy" rating in a research note on Friday. Canaccord Genuity Group increased their price objective on Smith & Nephew SNATS from $28.00 to $36.00 and gave the company a "hold" rating in a research note on Monday, August 18th. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Smith & Nephew SNATS presently has a consensus rating of "Hold" and a consensus price target of $36.00.

About Smith & Nephew SNATS

Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT.