BlackRock Inc. acquired a new stake in shares of Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,056,801 shares of the medical equipment provider's stock, valued at approximately $505,323,000. BlackRock Inc. owned 1.91% of Smith & Nephew SNATS as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNN. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Smith & Nephew SNATS in the 2nd quarter valued at about $13,812,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Smith & Nephew SNATS by 51.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 905,100 shares of the medical equipment provider's stock worth $28,764,000 after purchasing an additional 305,600 shares in the last quarter. Deutsche Bank AG purchased a new position in shares of Smith & Nephew SNATS during the second quarter worth about $33,563,000. Quantinno Capital Management LP increased its position in shares of Smith & Nephew SNATS by 46.3% in the first quarter. Quantinno Capital Management LP now owns 278,224 shares of the medical equipment provider's stock worth $8,842,000 after purchasing an additional 88,068 shares during the last quarter. Finally, Todd Asset Management LLC increased its position in shares of Smith & Nephew SNATS by 30.2% in the fourth quarter. Todd Asset Management LLC now owns 944,578 shares of the medical equipment provider's stock worth $30,992,000 after purchasing an additional 219,348 shares during the last quarter. 25.64% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on SNN shares. Weiss Ratings lowered shares of Smith & Nephew SNATS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 11th. The Goldman Sachs Group reissued a "buy" rating on shares of Smith & Nephew SNATS in a report on Monday, May 25th. Canaccord Genuity Group lowered their price objective on shares of 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. Morgan Stanley reaffirmed an "overweight" rating on shares of Smith & Nephew SNATS in a report on Wednesday, August 5th. Finally, Zacks Research lowered shares of Smith & Nephew SNATS from a "hold" rating to a "strong sell" rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $30.93.
Read Our Latest Stock Analysis on Smith & Nephew SNATS
Smith & Nephew SNATS Trading Up 1.3%
NYSE:SNN opened at $29.64 on Tuesday. The business has a 50 day moving average of $30.30 and a 200 day moving average of $31.82. Smith & Nephew SNATS, Inc. has a 1-year low of $28.56 and a 1-year high of $38.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 2.14.
Smith & Nephew SNATS Dividend Announcement
The firm also recently disclosed a dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 2nd will be issued a $0.312 dividend. This represents a dividend yield of 205.0%. The ex-dividend date is Friday, October 2nd.
About Smith & Nephew SNATS
(
Free Report)
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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