Oliver Luxxe Assets LLC Takes $5.18 Million Position in Smith & Nephew SNATS, Inc. $SNN

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 shares of Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 168,977 shares of the medical equipment provider's stock, valued at approximately $5,176,000.

A number of other hedge funds also recently made changes to their positions in the company. Armistice Capital LLC boosted its stake in shares of Smith & Nephew SNATS by 258.1% in the first quarter. Armistice Capital LLC now owns 1,769,000 shares of the medical equipment provider's stock valued at $50,187,000 after purchasing an additional 1,275,000 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Smith & Nephew SNATS by 49.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,771,401 shares of the medical equipment provider's stock worth $50,255,000 after buying an additional 583,809 shares in the last quarter. Northern Trust Corp grew its stake in shares of 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 valued at $19,140,000 after acquiring an additional 166,248 shares in the last quarter. Causeway Capital Management LLC grew its stake in shares of 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 valued at $17,231,000 after acquiring an additional 126,469 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its position in shares of Smith & Nephew SNATS by 91.6% during the first quarter. Tocqueville Asset Management L.P. now owns 251,563 shares of the medical equipment provider's stock worth $7,137,000 after acquiring an additional 120,291 shares during the last quarter. Hedge funds and other institutional investors own 25.64% of the company's stock.

Smith & Nephew SNATS Trading Down 0.5%

NYSE:SNN opened at $36.85 on Monday. The stock has a market cap of $16.05 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 1.02 and a beta of 0.71. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 3.00. Smith & Nephew SNATS, Inc. has a 1 year low of $23.69 and a 1 year high of $38.79. The business has a fifty day moving average of $35.05 and a 200-day moving average of $30.74.

Smith & Nephew SNATS Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 3rd will be paid a $0.285 dividend. This represents a dividend yield of 210.0%. The ex-dividend date of this dividend is Friday, October 3rd. Smith & Nephew SNATS's dividend payout ratio is currently 26.39%.

Analysts Set New Price Targets

A number of brokerages recently commented on SNN. Canaccord Genuity Group increased their price target on Smith & Nephew SNATS from $28.00 to $36.00 and gave the company a "hold" rating in a 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 equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Smith & Nephew SNATS 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.

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