Earnest Partners LLC Has $2.03 Million Stock Position in Smith & Nephew SNATS, Inc. $SNN

Key Points

• Earnest Partners LLC has reduced its stake in Smith & Nephew SNATS, Inc. by 13.9%, holding 71,708 shares worth approximately $2,034,000 after selling 11,604 shares.
• Several hedge funds have increased their positions in Smith & Nephew, with Causeway Capital Management LLC raising its stake by 26.3%, now owning 607,357 shares valued at $17,231,000.
• Brokerages are showing cautious optimism, with Canaccord Genuity Group raising the price target from $28.00 to $36.00, while maintaining a "hold" rating on the stock.

Earnest Partners LLC cut its position in shares of Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) by 13.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,708 shares of the medical equipment provider's stock after selling 11,604 shares during the quarter. Earnest Partners LLC's holdings in Smith & Nephew SNATS were worth $2,034,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Causeway Capital Management LLC grew its position in Smith & Nephew SNATS by 26.3% during the first quarter. Causeway Capital Management LLC now owns 607,357 shares of the medical equipment provider's stock worth $17,231,000 after buying an additional 126,469 shares in the last quarter. Northern Trust Corp boosted its holdings in Smith & Nephew SNATS by 32.7% during the first quarter. Northern Trust Corp now owns 674,640 shares of the medical equipment provider's stock valued at $19,140,000 after purchasing an additional 166,248 shares in the last quarter. Brooklyn Investment Group boosted its holdings in Smith & Nephew SNATS by 3,086.3% during the first quarter. Brooklyn Investment Group now owns 4,429 shares of the medical equipment provider's stock valued at $126,000 after purchasing an additional 4,290 shares in the last quarter. Penn Mutual Asset Management acquired a new stake in Smith & Nephew SNATS during the first quarter valued at approximately $378,000. Finally, Corient IA LLC acquired a new stake in Smith & Nephew SNATS during the first quarter valued at approximately $284,000. 25.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SNN shares. Canaccord Genuity Group lifted their price objective on Smith & Nephew SNATS from $28.00 to $36.00 and gave the company a "hold" rating in a report on Monday, August 18th. Wall Street Zen upgraded shares of Smith & Nephew SNATS from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Six equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $36.00.

Smith & Nephew SNATS Trading Up 0.7%

SNN stock traded up $0.24 during trading on Friday, hitting $37.47. The company had a trading volume of 484,378 shares, compared to its average volume of 918,216. 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 firm has a 50-day moving average price of $32.81 and a 200-day moving average price of $29.69. Smith & Nephew SNATS, Inc. has a 12 month low of $23.69 and a 12 month high of $37.65. The stock has a market cap of $16.41 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 1.03 and a beta of 0.70.

Smith & Nephew SNATS Cuts Dividend

The firm also recently announced 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. The ex-dividend date is Friday, October 3rd. This represents a dividend yield of 210.0%. Smith & Nephew SNATS's payout ratio is presently 41.20%.

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.