Aberdeen Group plc Trims 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 cut its holdings in Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) by 15.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 118,710 shares of the medical equipment provider's stock after selling 22,498 shares during the quarter. Aberdeen Group plc's holdings in Smith & Nephew SNATS were worth $3,368,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC raised its stake in Smith & Nephew SNATS by 63.3% in the first quarter. Hexagon Capital Partners LLC now owns 1,047 shares of the medical equipment provider's stock valued at $30,000 after buying an additional 406 shares during the last quarter. Richards Merrill & Peterson Inc. raised its stake in Smith & Nephew SNATS by 500.0% in the first quarter. Richards Merrill & Peterson Inc. now owns 1,200 shares of the medical equipment provider's stock valued at $34,000 after buying an additional 1,000 shares during the last quarter. Bessemer Group Inc. raised its stake in Smith & Nephew SNATS by 3,471.4% in the first quarter. Bessemer Group Inc. now owns 1,750 shares of the medical equipment provider's stock valued at $49,000 after buying an additional 1,701 shares during the last quarter. Hara Capital LLC raised its stake in Smith & Nephew SNATS by 391.4% in the fourth quarter. Hara Capital LLC now owns 2,457 shares of the medical equipment provider's stock valued at $60,000 after buying an additional 1,957 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in Smith & Nephew SNATS in the first quarter valued at about $73,000. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

Smith & Nephew SNATS Stock Performance

Shares of NYSE:SNN traded up $0.5630 during trading on Friday, hitting $37.5330. The stock had a trading volume of 603,940 shares, compared to its average volume of 984,738. The stock has a 50-day simple moving average of $31.96 and a two-hundred day simple moving average of $29.22. The company has a quick ratio of 1.40, a current ratio of 3.00 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $16.44 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 1.03 and a beta of 0.68. Smith & Nephew SNATS, Inc. has a 12-month low of $23.69 and a 12-month high of $37.58.

Smith & Nephew SNATS Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, November 7th. Investors 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 is Friday, October 3rd. Smith & Nephew SNATS's dividend payout ratio (DPR) is currently 41.20%.

Analyst Ratings Changes

A number of equities research analysts have commented on SNN shares. Hsbc Global Res cut Smith & Nephew SNATS from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Wall Street Zen cut Smith & Nephew SNATS from a "strong-buy" rating to a "buy" rating in a research note on Friday. Canaccord Genuity Group raised their price objective on Smith & Nephew SNATS from $28.00 to $36.00 and gave the stock a "hold" rating in a research note on Monday, August 18th. Finally, HSBC cut Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research note on Friday, April 25th. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Smith & Nephew SNATS presently has an average rating of "Hold" and an average target price 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.