Jupiter Topco LLC Invests $3.15 Million in Smith & Nephew SNATS, Inc. $SNN

Key Points

• Jupiter Topco LLC purchased a new $3.15 million stake in Smith & Nephew SNATS during the second quarter, acquiring 50,179 shares. Institutional investors collectively own 25.64% of the company.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a consensus price target of $30.93, despite one recent upgrade to “Buy.”
• Smith & Nephew SNATS shares opened at $28.68, near their 12-month low of $28.56. The company also declared a $0.312-per-share dividend payable November 6 to shareholders of record October 2.

Jupiter Topco LLC purchased a new stake in shares of Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 50,179 shares of the medical equipment provider's stock, valued at approximately $3,147,000.

Several other large investors have also made changes to their positions in the company. Clearstead Trust LLC acquired a new position in Smith & Nephew SNATS in the second quarter worth approximately $25,000. Garner Asset Management Corp acquired a new stake in Smith & Nephew SNATS in the fourth quarter valued at approximately $27,000. Arax Advisory Partners lifted its stake in Smith & Nephew SNATS by 142.6% in the fourth quarter. Arax Advisory Partners now owns 968 shares of the medical equipment provider's stock valued at $32,000 after acquiring an additional 569 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in Smith & Nephew SNATS in the fourth quarter worth approximately $36,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Smith & Nephew SNATS in the third quarter worth approximately $41,000. Institutional investors own 25.64% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Smith & Nephew SNATS from a "hold" rating to a "buy" rating in a research note on Monday, August 24th. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Smith & Nephew SNATS in a research note on Thursday, August 6th. Canaccord Genuity Group decreased their price objective on shares of Smith & Nephew SNATS from $32.00 to $30.00 and set a "hold" rating for the company in a report on Monday, May 11th. BTIG Research began coverage on shares of Smith & Nephew SNATS in a research report on Monday. They set a "neutral" rating on the stock. Finally, Zacks Research lowered Smith & Nephew SNATS from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $30.93.

Smith & Nephew SNATS Stock Performance

Shares of Smith & Nephew SNATS stock opened at $28.68 on Thursday. Smith & Nephew SNATS, Inc. has a 12-month low of $28.56 and a 12-month high of $38.79. 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 has a 50 day moving average price of $30.17 and a two-hundred day moving average price of $31.52.

Smith & Nephew SNATS Announces Dividend

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

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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