Mitsubishi UFJ Asset Management Co. Ltd. Makes New $13.81 Million Investment in Smith & Nephew SNATS, Inc. $SNN

Key Points

• Mitsubishi UFJ Asset Management acquired 220,220 Smith & Nephew SNATS shares worth approximately $13.81 million, representing 0.05% of the company.
• Analyst sentiment remains cautious: two analysts rate the stock a Buy, six Hold, and two Sell, producing an average rating of Hold and a $30.93 target price.
• SNN shares opened at $29.06, near their one-year low of $28.56 and below both the 50-day and 200-day moving averages.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 220,220 shares of the medical equipment provider's stock, valued at approximately $13,812,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.05% of Smith & Nephew SNATS as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Equity Investment Corp boosted its position in Smith & Nephew SNATS by 3.9% during the fourth quarter. Equity Investment Corp now owns 7,502 shares of the medical equipment provider's stock worth $246,000 after purchasing an additional 285 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Smith & Nephew SNATS by 13.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,820 shares of the medical equipment provider's stock worth $93,000 after buying an additional 334 shares during the last quarter. Cary Street Partners Financial LLC lifted its stake in shares of Smith & Nephew SNATS by 1.8% during the 4th quarter. Cary Street Partners Financial LLC now owns 20,255 shares of the medical equipment provider's stock worth $665,000 after buying an additional 365 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Smith & Nephew SNATS by 20.0% during the 1st quarter. Parallel Advisors LLC now owns 2,322 shares of the medical equipment provider's stock worth $74,000 after buying an additional 387 shares during the period. Finally, Clearstead Trust LLC bought a new stake in shares of Smith & Nephew SNATS during the 2nd quarter worth about $25,000. Institutional investors and hedge funds own 25.64% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on SNN. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Smith & Nephew SNATS in a research report on Thursday, August 6th. Sanford C. Bernstein set a $31.85 price target on shares of Smith & Nephew SNATS in a research note on Monday, May 11th. Kepler Capital Markets lowered shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research report on Thursday, June 4th. Barclays cut shares of Smith & Nephew SNATS from an "equal weight" rating to an "underweight" rating in a research note on Wednesday, August 5th. Finally, Canaccord Genuity Group cut 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. Two 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's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $30.93.

Smith & Nephew SNATS Price Performance

Shares of Smith & Nephew SNATS stock opened at $29.06 on Friday. The firm's 50 day moving average is $30.35 and its 200 day moving average is $31.89. Smith & Nephew SNATS, Inc. has a 1 year low of $28.56 and a 1 year 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.

Smith & Nephew SNATS Dividend Announcement

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

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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