Smith & Nephew SNATS, Inc. $SNN Shares Sold by Millennium Management LLC

Key Points

• Millennium Management LLC has reduced its stake in Smith & Nephew SNATS, Inc. by 54.7% in the first quarter, now holding 1,564,461 shares valued at approximately $44.4 million.
• Institutional investors have shown varying trends, with Bessemer Group Inc. increasing its stake in the firm by an extraordinary 3,471.4% during the same period.
• Smith & Nephew SNATS recently announced a semi-annual dividend of $0.285 payable on November 7th, reflecting a dividend yield of 210.0%.

Millennium Management LLC trimmed its stake in Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) by 54.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,564,461 shares of the medical equipment provider's stock after selling 1,890,404 shares during the period. Millennium Management LLC owned about 0.36% of Smith & Nephew SNATS worth $44,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Armistice Capital LLC raised its stake in shares of Smith & Nephew SNATS by 258.1% during the 1st quarter. Armistice Capital LLC now owns 1,769,000 shares of the medical equipment provider's stock worth $50,187,000 after acquiring an additional 1,275,000 shares in the last quarter. Clark Estates Inc. NY boosted its holdings in shares of Smith & Nephew SNATS by 6.3% in the 1st quarter. Clark Estates Inc. NY now owns 850,000 shares of the medical equipment provider's stock valued at $24,114,000 after acquiring an additional 50,000 shares during 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 worth $19,140,000 after buying an additional 166,248 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Smith & Nephew SNATS by 15.6% during the first quarter. Envestnet Asset Management Inc. now owns 618,691 shares of the medical equipment provider's stock worth $17,552,000 after buying an additional 83,341 shares in the last quarter. Finally, Causeway Capital Management LLC boosted its holdings 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. Institutional investors own 25.64% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SNN. Wall Street Zen upgraded Smith & Nephew SNATS from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 30th. Canaccord Genuity Group lifted their price target on shares of Smith & Nephew SNATS from $28.00 to $36.00 and gave the company a "hold" rating in a research report on Monday, August 18th. Six research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Smith & Nephew SNATS has an average rating of "Hold" and a consensus target price of $36.00.

Smith & Nephew SNATS Stock Performance

SNN traded down $0.76 during trading on Friday, hitting $37.77. The stock had a trading volume of 1,032,712 shares, compared to its average volume of 605,180. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 3.00. The firm has a market capitalization of $16.45 billion, a P/E ratio of 17.49, a PEG ratio of 1.04 and a beta of 0.70. The company's 50-day moving average price is $34.36 and its 200 day moving average price is $30.47. Smith & Nephew SNATS, Inc. has a twelve month low of $23.69 and a twelve month high of $38.79.

Smith & Nephew SNATS Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 3rd will be given a $0.285 dividend. The ex-dividend date is Friday, October 3rd. This represents a dividend yield of 210.0%. Smith & Nephew SNATS's payout ratio is currently 41.20%.

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.