Penn Mutual Asset Management Takes Position in Smith & Nephew SNATS, Inc. $SNN

Key Points

• Penn Mutual Asset Management has invested approximately $378,000 in Smith & Nephew SNATS, Inc., acquiring 13,325 shares in the first quarter of the year.
• Several institutional investors have significantly increased their holdings in Smith & Nephew SNATS, with increases of up to 3,471.4% reported by Bessemer Group Inc.
• Equities research analysts have mixed ratings on the stock, with a consensus rating of "Hold" and a price target of $28.00 according to recent reports.

Penn Mutual Asset Management bought a new position in Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 13,325 shares of the medical equipment provider's stock, valued at approximately $378,000.

Several other institutional investors have also recently made changes to their positions in SNN. Corient IA LLC bought a new position in Smith & Nephew SNATS during the first quarter valued at about $284,000. Raymond James Financial Inc. grew its position in Smith & Nephew SNATS by 27.7% during the first quarter. Raymond James Financial Inc. now owns 259,429 shares of the medical equipment provider's stock valued at $7,360,000 after buying an additional 56,342 shares during the period. Tocqueville Asset Management L.P. grew its position in 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 valued at $7,137,000 after buying an additional 120,291 shares during the period. American Century Companies Inc. grew its position in Smith & Nephew SNATS by 4.5% during the first quarter. American Century Companies Inc. now owns 142,567 shares of the medical equipment provider's stock valued at $4,045,000 after buying an additional 6,129 shares during the period. Finally, Kovitz Investment Group Partners LLC bought a new position in Smith & Nephew SNATS during the first quarter valued at about $223,000. Institutional investors own 25.64% of the company's stock.

Smith & Nephew SNATS Stock Performance

NYSE:SNN traded up $0.5850 on Tuesday, reaching $36.8750. 727,862 shares of the company's stock were exchanged, compared to its average volume of 1,001,689. 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 firm has a market cap of $16.15 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.00 and a beta of 0.68. Smith & Nephew SNATS, Inc. has a 52 week low of $23.69 and a 52 week high of $36.89. The stock has a fifty day simple moving average of $31.51 and a 200-day simple moving average of $29.00.

Smith & Nephew SNATS Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.285 per share. 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%.

Analyst Ratings Changes

Several research firms recently weighed in on SNN. Canaccord Genuity Group increased 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. Hsbc Global Res lowered shares of Smith & Nephew SNATS from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Finally, HSBC lowered shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Six analysts have rated the stock with a Hold rating, According to data from MarketBeat, Smith & Nephew SNATS currently has an average rating of "Hold" and a consensus target price of $36.00.

Smith & Nephew SNATS Company 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.