Millennium Management LLC Has $44.38 Million Stake in Smith & Nephew SNATS, Inc. $SNN

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 lessened its position 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 SEC. The institutional investor owned 1,564,461 shares of the medical equipment provider's stock after selling 1,890,404 shares during the quarter. Millennium Management LLC owned approximately 0.36% of Smith & Nephew SNATS worth $44,384,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNN. Armistice Capital LLC lifted its position in Smith & Nephew SNATS by 258.1% in the 1st quarter. Armistice Capital LLC now owns 1,769,000 shares of the medical equipment provider's stock worth $50,187,000 after buying an additional 1,275,000 shares in the last quarter. Northern Trust Corp lifted its position in Smith & Nephew SNATS by 169.9% in the 4th quarter. Northern Trust Corp now owns 508,392 shares of the medical equipment provider's stock worth $12,496,000 after buying an additional 320,054 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Smith & Nephew SNATS in the 4th quarter worth approximately $6,132,000. D. E. Shaw & Co. Inc. lifted its position in Smith & Nephew SNATS by 340.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 166,587 shares of the medical equipment provider's stock worth $4,095,000 after buying an additional 128,780 shares in the last quarter. Finally, Causeway Capital Management LLC lifted its position in Smith & Nephew SNATS by 26.3% in the 1st 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. Hedge funds and other institutional investors own 25.64% of the company's stock.

Smith & Nephew SNATS Stock Performance

NYSE:SNN traded down $0.76 during midday trading on Friday, reaching $37.77. The stock had a trading volume of 1,032,712 shares, compared to its average volume of 870,046. Smith & Nephew SNATS, Inc. has a 1-year low of $23.69 and a 1-year high of $38.79. The firm's fifty day simple moving average is $34.21 and its 200-day simple moving average is $30.39. 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 stock has a market capitalization of $16.54 billion, a P/E ratio of 17.49, a PEG ratio of 1.05 and a beta of 0.71.

Smith & Nephew SNATS Cuts Dividend

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

Wall Street Analysts Forecast Growth

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

About Smith & Nephew SNATS

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.