Ethic Inc. Sells 10,454 Shares of Smith & Nephew SNATS, Inc. $SNN

Key Points

• Ethic Inc. reduced its holdings in Smith & Nephew SNATS, Inc. by 30.7% in the first quarter, selling 10,454 shares to own 23,578 shares worth $665,000.
• Several institutional investors have increased their stakes significantly, with Hexagon Capital Partners LLC boosting its holdings by 63.3% and Bessemer Group Inc. growing its investment by 3,471.4%.
• Brokerages have mixed views on Smith & Nephew SNATS, with Canaccord Genuity Group raising its price target to $36.00, while HSBC downgraded its rating from "buy" to "hold."

Ethic Inc. reduced its stake in Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) by 30.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 23,578 shares of the medical equipment provider's stock after selling 10,454 shares during the quarter. Ethic Inc.'s holdings in Smith & Nephew SNATS were worth $665,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC lifted its holdings in Smith & Nephew SNATS by 63.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,047 shares of the medical equipment provider's stock worth $30,000 after purchasing an additional 406 shares during the last quarter. Richards Merrill & Peterson Inc. lifted its holdings in Smith & Nephew SNATS by 500.0% in the 1st quarter. Richards Merrill & Peterson Inc. now owns 1,200 shares of the medical equipment provider's stock worth $34,000 after purchasing an additional 1,000 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Smith & Nephew SNATS by 3,471.4% in the 1st quarter. Bessemer Group Inc. now owns 1,750 shares of the medical equipment provider's stock worth $49,000 after purchasing an additional 1,701 shares during the last quarter. Hara Capital LLC lifted its holdings in Smith & Nephew SNATS by 391.4% in the 4th quarter. Hara Capital LLC now owns 2,457 shares of the medical equipment provider's stock worth $60,000 after purchasing an additional 1,957 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in Smith & Nephew SNATS in the 1st quarter worth approximately $73,000. 25.64% of the stock is currently owned by institutional investors and hedge funds.

Smith & Nephew SNATS Stock Performance

Shares of NYSE SNN traded up $0.19 during trading hours on Tuesday, reaching $37.34. The stock had a trading volume of 429,809 shares, compared to its average volume of 982,549. The business's fifty day moving average is $32.29 and its two-hundred day moving average is $29.41. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.00 and a quick ratio of 1.40. The company has a market cap of $16.36 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 1.02 and a beta of 0.68. Smith & Nephew SNATS, Inc. has a twelve month low of $23.69 and a twelve month high of $37.65.

Smith & Nephew SNATS Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 3rd will be paid 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 is currently 41.20%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SNN. Wall Street Zen lowered Smith & Nephew SNATS from a "strong-buy" rating to a "buy" rating in a report on Friday. Canaccord Genuity Group upped their price target on Smith & Nephew SNATS from $28.00 to $36.00 and gave the stock a "hold" rating in a report on Monday, August 18th. Six equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $36.00.

Smith & Nephew SNATS Profile

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.