Deutsche Bank AG Buys New Position in Smith & Nephew SNATS, Inc. $SNN

Key Points

• Deutsche Bank acquired 535,130 shares of Smith & Nephew SNATS during the second quarter, valued at approximately $33.6 million and representing about 0.13% of the company. Institutional investors collectively own 25.64% of the stock.
• Smith & Nephew shares opened at $29.29, near the lower end of their 52-week range of $28.56 to $38.79. Analysts’ consensus rating is “Hold”, with an average price target of $30.93.
• The company announced a dividend of $0.312 per share, payable November 6 to shareholders of record as of October 2.

Deutsche Bank AG acquired a new stake in Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 535,130 shares of the medical equipment provider's stock, valued at approximately $33,563,000. Deutsche Bank AG owned about 0.13% of Smith & Nephew SNATS as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SNN. Perigon Wealth Management LLC acquired a new position in shares of Smith & Nephew SNATS during the 2nd quarter worth about $203,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Smith & Nephew SNATS during the second quarter valued at approximately $13,812,000. HBK Sorce Advisory LLC bought a new position in Smith & Nephew SNATS in the second quarter valued at approximately $426,000. Global Retirement Partners LLC acquired a new position in shares of Smith & Nephew SNATS during the 2nd quarter worth approximately $136,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Smith & Nephew SNATS during the 2nd quarter worth approximately $89,325,000. Institutional investors own 25.64% of the company's stock.

Smith & Nephew SNATS Stock Up 0.9%

Shares of NYSE SNN opened at $29.29 on Friday. The company has a quick ratio of 1.11, a current ratio of 2.14 and a debt-to-equity ratio of 0.62. The stock's fifty day moving average price is $30.32 and its two-hundred day moving average price is $31.87. Smith & Nephew SNATS, Inc. has a one year low of $28.56 and a one year high of $38.79.

Smith & Nephew SNATS Announces Dividend

The firm 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. This represents a dividend yield of 205.0%. The ex-dividend date of this dividend is Friday, October 2nd.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SNN. Wall Street Zen downgraded shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. The Goldman Sachs Group reissued a "buy" rating on shares of Smith & Nephew SNATS in a research report on Monday, May 25th. Kepler Capital Markets cut shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a report on Thursday, June 4th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Smith & Nephew SNATS in a research note on Thursday, August 6th. Finally, Zacks Research cut Smith & Nephew SNATS from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Smith & Nephew SNATS presently has an average rating of "Hold" and a consensus target price of $30.93.

About Smith & Nephew SNATS

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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