Commerce Bank Makes New Investment in Smith & Nephew SNATS, Inc. $SNN

Key Points

• Commerce Bank acquired 61,916 shares of Smith & Nephew SNATS during the second quarter, worth approximately $3.88 million. Institutional investors collectively own 25.64% of the company.
• Smith & Nephew SNATS shares opened at $29.64, near the lower end of their 52-week range of $28.56 to $38.79. The stock has a consensus analyst rating of “Hold” and an average price target of $30.93.
• The company announced a $0.312 dividend payable November 6 to shareholders of record October 2, while several analysts recently downgraded the stock or reduced their price targets.

Commerce Bank acquired a new stake in Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 61,916 shares of the medical equipment provider's stock, valued at approximately $3,883,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada boosted its position in shares of Smith & Nephew SNATS by 16.7% during the 1st quarter. Royal Bank of Canada now owns 340,428 shares of the medical equipment provider's stock valued at $9,657,000 after acquiring an additional 48,784 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Smith & Nephew SNATS by 49.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,771,401 shares of the medical equipment provider's stock worth $50,255,000 after purchasing an additional 583,809 shares in the last quarter. Focus Partners Wealth raised its position in Smith & Nephew SNATS by 59.8% in the first quarter. Focus Partners Wealth now owns 19,438 shares of the medical equipment provider's stock worth $552,000 after purchasing an additional 7,277 shares in the last quarter. Cetera Investment Advisers lifted its stake in Smith & Nephew SNATS by 5.9% during the second quarter. Cetera Investment Advisers now owns 17,731 shares of the medical equipment provider's stock worth $543,000 after purchasing an additional 983 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Smith & Nephew SNATS by 219.2% during the second quarter. EverSource Wealth Advisors LLC now owns 5,261 shares of the medical equipment provider's stock worth $161,000 after purchasing an additional 3,613 shares during the period. 25.64% of the stock is owned by institutional investors.

Smith & Nephew SNATS Trading Up 1.3%

NYSE:SNN opened at $29.64 on Tuesday. The stock's fifty day moving average price is $30.30 and its two-hundred day moving average price is $31.82. Smith & Nephew SNATS, Inc. has a 52-week low of $28.56 and a 52-week high of $38.79. The company has a quick ratio of 1.11, a current ratio of 2.14 and a debt-to-equity ratio of 0.62.

Smith & Nephew SNATS Dividend Announcement

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

Wall Street Analyst Weigh In

SNN has been the topic of a number of analyst reports. Weiss Ratings cut Smith & Nephew SNATS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 11th. Zacks Research cut Smith & Nephew SNATS from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. Kepler Capital Markets downgraded shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research note on Thursday, June 4th. Sanford C. Bernstein set a $31.85 target price on shares of Smith & Nephew SNATS in a research note on Monday, May 11th. Finally, Canaccord Genuity Group lowered their target price on shares of Smith & Nephew SNATS from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price 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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