Ridgewood Investments LLC Sells 65,052 Shares of Smith & Nephew SNATS, Inc. $SNN

Key Points

• Ridgewood Investments LLC reduced its stake in Smith & Nephew SNATS by 86.8% during the second quarter, now holding 9,887 shares valued at $303,000.
• Several institutional investors, including Bessemer Group Inc. and Richards Merrill & Peterson Inc., have significantly increased their stakes, demonstrating heightened interest in the company.
• Smith & Nephew SNATS recently announced a semi-annual dividend of $0.285, with a payout ratio of 26.39% and a yield of 210.0%.

Ridgewood Investments LLC lessened its stake in shares of Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) by 86.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 9,887 shares of the medical equipment provider's stock after selling 65,052 shares during the period. Ridgewood Investments LLC's holdings in Smith & Nephew SNATS were worth $303,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Hexagon Capital Partners LLC lifted its position in shares of Smith & Nephew SNATS by 63.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,047 shares of the medical equipment provider's stock valued at $30,000 after acquiring an additional 406 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Smith & Nephew SNATS by 15.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,149 shares of the medical equipment provider's stock valued at $118,000 after purchasing an additional 541 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Smith & Nephew SNATS by 6.3% in the second quarter. Park Avenue Securities LLC now owns 9,789 shares of the medical equipment provider's stock valued at $300,000 after purchasing an additional 583 shares in the last quarter. Gallacher Capital Management LLC lifted its holdings in shares of Smith & Nephew SNATS by 6.4% in the second quarter. Gallacher Capital Management LLC now owns 10,622 shares of the medical equipment provider's stock valued at $325,000 after purchasing an additional 639 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Smith & Nephew SNATS by 22.4% in the first quarter. GAMMA Investing LLC now owns 3,641 shares of the medical equipment provider's stock valued at $103,000 after purchasing an additional 666 shares in the last quarter. Institutional investors and hedge funds own 25.64% of the company's stock.

Analyst Ratings Changes

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

Smith & Nephew SNATS Trading Down 0.8%

Shares of SNN stock traded down $0.28 on Monday, hitting $36.57. The stock had a trading volume of 644,933 shares, compared to its average volume of 613,874. Smith & Nephew SNATS, Inc. has a twelve month low of $23.69 and a twelve month high of $38.79. The firm has a market cap of $15.92 billion, a P/E ratio of 16.93, a PEG ratio of 1.02 and a beta of 0.70. The company has a current ratio of 3.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60. The company has a fifty day moving average price of $35.18 and a two-hundred day moving average price of $30.78.

Smith & Nephew SNATS Cuts Dividend

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

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.