Ritholtz Wealth Management Makes New Investment in Smith & Nephew SNATS, Inc. $SNN

Key Points

• Ritholtz Wealth Management has made a new investment in Smith & Nephew SNATS, purchasing 10,524 shares worth approximately $322,000 during the 2nd quarter.
• Several institutional investors increased their stakes in Smith & Nephew, with notable investments from Moran Wealth Management and Sequoia Financial Advisors, indicating growing interest in the medical equipment provider.
• Wall Street analysts have mixed reviews on Smith & Nephew SNATS, with one recent downgrade from a "strong-buy" to a "buy" and a consensus rating of "Hold" along with an average target price of $36.75.

Ritholtz Wealth Management bought a new position in shares of Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 10,524 shares of the medical equipment provider's stock, valued at approximately $322,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Moran Wealth Management LLC grew its holdings in Smith & Nephew SNATS by 3.1% during the 2nd quarter. Moran Wealth Management LLC now owns 121,052 shares of the medical equipment provider's stock worth $3,708,000 after acquiring an additional 3,667 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Smith & Nephew SNATS by 56.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 11,645 shares of the medical equipment provider's stock worth $357,000 after acquiring an additional 4,195 shares in the last quarter. Yousif Capital Management LLC bought a new position in Smith & Nephew SNATS during the 2nd quarter worth about $217,000. Allspring Global Investments Holdings LLC grew its holdings in Smith & Nephew SNATS by 4.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,462 shares of the medical equipment provider's stock worth $381,000 after acquiring an additional 570 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Smith & Nephew SNATS by 6.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,688 shares of the medical equipment provider's stock worth $1,063,000 after acquiring an additional 1,982 shares in the last quarter. 25.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen cut shares of Smith & Nephew SNATS from a "strong-buy" rating to a "buy" rating in a report on Friday, October 3rd. Royal Bank Of Canada restated an "outperform" rating on shares of Smith & Nephew SNATS in a report on Monday. Weiss Ratings restated a "hold (c+)" rating on shares of Smith & Nephew SNATS in a report on Wednesday, October 8th. Canaccord Genuity Group raised their price target on shares of Smith & Nephew SNATS from $28.00 to $36.00 and gave the company a "hold" rating in a report on Monday, August 18th. Finally, Sanford C. Bernstein set a $37.50 price target on shares of Smith & Nephew SNATS and gave the company a "market perform" rating in a report on Tuesday, October 14th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $36.75.

Smith & Nephew SNATS Stock Up 0.0%

SNN stock opened at $36.35 on Tuesday. The firm has a 50 day moving average of $36.71 and a 200 day moving average of $31.82. The stock has a market capitalization of $15.51 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 0.99 and a beta of 0.69. 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, Inc. has a 52 week low of $23.69 and a 52 week high of $38.79.

Smith & Nephew SNATS Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 3rd will be paid a $0.285 dividend. The ex-dividend date is Friday, October 3rd. This represents a yield of 165.0%. Smith & Nephew SNATS's dividend payout ratio (DPR) is 26.39%.

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.

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