JPMorgan Chase & Co. Sells 924,726 Shares of Smith & Nephew SNATS, Inc. $SNN

Key Points

• JPMorgan Chase cut its stake in Smith & Nephew by 76.4% in Q3, selling 924,726 shares and leaving it with 285,929 shares worth about $10.38 million (≈0.07% of the company).
• Analysts hold a consensus rating of Hold with an average target price of $36.25; one analyst rates the stock Strong Buy while four rate it Hold, and recent notes include Canaccord raising its target to $35 and RBC downgrading to sector perform.
• Smith & Nephew announced a dividend of $0.482 per share payable May 27 (ex-dividend March 27); the article reports an unusually high yield of 304.0%.

JPMorgan Chase & Co. cut its stake in Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) by 76.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 285,929 shares of the medical equipment provider's stock after selling 924,726 shares during the period. JPMorgan Chase & Co. owned about 0.07% of Smith & Nephew SNATS worth $10,376,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SNN. GAMMA Investing LLC lifted its holdings in Smith & Nephew SNATS by 11.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,837 shares of the medical equipment provider's stock valued at $139,000 after buying an additional 401 shares in the last quarter. Versant Capital Management Inc grew its stake in Smith & Nephew SNATS by 5.0% in the 3rd quarter. Versant Capital Management Inc now owns 8,912 shares of the medical equipment provider's stock worth $323,000 after acquiring an additional 423 shares in the last quarter. Vise Technologies Inc. increased its position in shares of Smith & Nephew SNATS by 4.7% during the third quarter. Vise Technologies Inc. now owns 9,642 shares of the medical equipment provider's stock worth $350,000 after acquiring an additional 437 shares during the period. Quadrant Capital Group LLC increased its position in shares of Smith & Nephew SNATS by 3.6% during the third quarter. Quadrant Capital Group LLC now owns 12,757 shares of the medical equipment provider's stock worth $463,000 after acquiring an additional 440 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Smith & Nephew SNATS by 4.6% during the third quarter. First Trust Advisors LP now owns 10,532 shares of the medical equipment provider's stock valued at $382,000 after acquiring an additional 459 shares in the last quarter. Hedge funds and other institutional investors own 25.64% of the company's stock.

Analyst Ratings Changes

SNN has been the subject of a number of research reports. Canaccord Genuity Group boosted their price target on Smith & Nephew SNATS from $34.00 to $35.00 and gave the company a "hold" rating in a report on Thursday, March 5th. Royal Bank Of Canada downgraded Smith & Nephew SNATS from an "outperform" rating to a "sector perform" rating in a report on Monday, December 15th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Smith & Nephew SNATS in a research report on Wednesday, January 21st. Finally, Wall Street Zen raised Smith & Nephew SNATS from a "buy" rating to a "strong-buy" rating in a research report on Sunday. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $36.25.

Smith & Nephew SNATS Trading Down 1.8%

NYSE:SNN opened at $31.69 on Friday. The firm has a 50-day simple moving average of $34.29 and a 200-day simple moving average of $34.42. Smith & Nephew SNATS, Inc. has a one year low of $23.91 and a one year high of $38.79. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.25 and a current ratio of 2.57.

Smith & Nephew SNATS (NYSE:SNN - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The medical equipment provider reported $29.55 earnings per share (EPS) for the quarter. The business had revenue of $1.60 billion for the quarter. On average, equities research analysts forecast that Smith & Nephew SNATS, Inc. will post 1.69 earnings per share for the current year.

Smith & Nephew SNATS Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Friday, March 27th will be issued a dividend of $0.482 per share. The ex-dividend date is Friday, March 27th. This represents a yield of 304.0%.

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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