Heartland Advisors Inc. Makes New Investment in Smith & Nephew SNATS, Inc. $SNN

Key Points

• Heartland Advisors initiated a position in Smith & Nephew SNATS by purchasing 83,505 shares worth approximately $5.24 million. Institutional investors own 25.64% of the company.
• Analyst sentiment is mixed but leans toward “Hold”: two analysts rate the stock Buy, six Hold, and two Sell, with a consensus price target of $30.93.
• SNN opened at $29.29, near its 12-month low of $28.56 and below its 50-day and 200-day moving averages. The company also declared a quarterly dividend of $0.312 per share, payable November 6 to shareholders of record October 2.

Heartland Advisors Inc. bought a new position in Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 83,505 shares of the medical equipment provider's stock, valued at approximately $5,237,000.

Several other large investors have also recently bought and sold shares of SNN. Clearstead Trust LLC bought a new position in shares of Smith & Nephew SNATS in the second quarter worth $25,000. Garner Asset Management Corp bought a new stake in Smith & Nephew SNATS during the fourth quarter valued at $27,000. Arax Advisory Partners boosted its stake in Smith & Nephew SNATS by 142.6% during the fourth quarter. Arax Advisory Partners now owns 968 shares of the medical equipment provider's stock valued at $32,000 after buying an additional 569 shares during the period. Advisors Asset Management Inc. purchased a new position in Smith & Nephew SNATS during the fourth quarter worth about $36,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Smith & Nephew SNATS during the third quarter worth about $41,000. 25.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SNN. Zacks Research downgraded Smith & Nephew SNATS from a "hold" rating to a "strong sell" rating in a research report on Friday, August 7th. Kepler Capital Markets cut shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research report on Thursday, June 4th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Smith & Nephew SNATS in a research note on Monday, May 25th. Wall Street Zen lowered shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research report on Sunday, August 16th. Finally, Canaccord Genuity Group dropped their target price on shares of Smith & Nephew SNATS from $32.00 to $30.00 and set a "hold" rating for the company in a research report on Monday, May 11th. Two research 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. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $30.93.

Smith & Nephew SNATS Stock Performance

NYSE SNN opened at $29.29 on Friday. The stock's 50-day simple moving average is $30.32 and its two-hundred day simple moving average is $31.87. Smith & Nephew SNATS, Inc. has a twelve month low of $28.56 and a twelve month 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 Announces Dividend

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

Smith & Nephew SNATS Company 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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