168,977 Shares in Smith & Nephew SNATS, Inc. $SNN Acquired by Oliver Luxxe Assets LLC

Key Points

• Oliver Luxxe Assets LLC has acquired a new position in Smith & Nephew SNATS, Inc. with 168,977 shares valued at approximately $5.18 million.
• Several hedge funds have increased their holdings in Smith & Nephew, with Armistice Capital LLC boosting its stake by 258.1% in the first quarter.
• Smith & Nephew has announced a semi-annual dividend of $0.285 to be paid on November 7th, reflecting a dividend yield of 210.0%.

Oliver Luxxe Assets LLC purchased a new position in Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 168,977 shares of the medical equipment provider's stock, valued at approximately $5,176,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its position in shares of Smith & Nephew SNATS by 63.3% during the first quarter. Hexagon Capital Partners LLC now owns 1,047 shares of the medical equipment provider's stock valued at $30,000 after buying an additional 406 shares during the period. Richards Merrill & Peterson Inc. boosted its stake in shares of Smith & Nephew SNATS by 500.0% during the first quarter. Richards Merrill & Peterson Inc. now owns 1,200 shares of the medical equipment provider's stock valued at $34,000 after purchasing an additional 1,000 shares during the period. Bessemer Group Inc. boosted its stake in shares of Smith & Nephew SNATS by 3,471.4% during the first quarter. Bessemer Group Inc. now owns 1,750 shares of the medical equipment provider's stock valued at $49,000 after purchasing an additional 1,701 shares during the period. Banque Transatlantique SA purchased a new stake in shares of Smith & Nephew SNATS during the first quarter valued at approximately $52,000. Finally, Hara Capital LLC boosted its stake in shares of Smith & Nephew SNATS by 391.4% during the fourth quarter. Hara Capital LLC now owns 2,457 shares of the medical equipment provider's stock valued at $60,000 after purchasing an additional 1,957 shares during the period. 25.64% of the stock is currently owned by institutional investors.

Smith & Nephew SNATS Stock Performance

Shares of Smith & Nephew SNATS stock traded down $0.28 during trading hours on Monday, reaching $36.57. 644,933 shares of the stock traded hands, compared to its average volume of 613,874. The company has a 50 day moving average price of $35.18 and a 200 day moving average price of $30.78. The firm has a market capitalization of $15.92 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 1.02 and a beta of 0.70. Smith & Nephew SNATS, Inc. has a one year low of $23.69 and a one year high of $38.79. The company has a quick ratio of 1.40, a current ratio of 3.00 and a debt-to-equity ratio of 0.60.

Smith & Nephew SNATS Cuts Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. 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 upped their target price on Smith & Nephew SNATS from $28.00 to $36.00 and gave the company a "hold" rating in a report on Monday, August 18th. Six investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $36.00.

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.