Scharf Investments LLC Sells 336,402 Shares of Smith & Nephew SNATS, Inc. $SNN

Key Points

• Scharf Investments LLC reduced its stake in Smith & Nephew by 16.6%, selling 336,402 shares and now owns 1,692,649 shares (about 0.40%) worth $55,536,000 per its latest 13F filing.
• Smith & Nephew announced a dividend of $0.482 per share, with an ex‑dividend and record date of March 27 and a payment date of May 27.
• Analysts have an average rating of "Hold" on the stock with an average price target of $36.25 (one Strong Buy and four Hold ratings reported).

Scharf Investments LLC reduced its stake in shares of Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) by 16.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,692,649 shares of the medical equipment provider's stock after selling 336,402 shares during the quarter. Scharf Investments LLC owned approximately 0.40% of Smith & Nephew SNATS worth $55,536,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Smith & Nephew SNATS by 19.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 9,652 shares of the medical equipment provider's stock valued at $317,000 after buying an additional 1,563 shares in the last quarter. Oliver Luxxe Assets LLC raised its stake in shares of Smith & Nephew SNATS by 2.0% during the 4th quarter. Oliver Luxxe Assets LLC now owns 181,116 shares of the medical equipment provider's stock worth $5,942,000 after acquiring an additional 3,573 shares in the last quarter. Park Avenue Securities LLC lifted its position in Smith & Nephew SNATS by 5.7% during the fourth quarter. Park Avenue Securities LLC now owns 9,574 shares of the medical equipment provider's stock valued at $314,000 after acquiring an additional 515 shares during the last quarter. Miller Global Investments LLC purchased a new stake in Smith & Nephew SNATS during the fourth quarter valued at approximately $338,000. Finally, GAMMA Investing LLC boosted its stake in Smith & Nephew SNATS by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 4,399 shares of the medical equipment provider's stock valued at $144,000 after acquiring an additional 562 shares in the last quarter. Institutional investors own 25.64% of the company's stock.

Smith & Nephew SNATS Trading Up 0.7%

NYSE SNN opened at $31.81 on Wednesday. The company has a fifty day simple moving average of $34.26 and a two-hundred day simple moving average of $34.30. Smith & Nephew SNATS, Inc. has a 12-month low of $23.91 and a 12-month high of $38.79. The company has a quick ratio of 1.25, a current ratio of 2.57 and a debt-to-equity ratio of 0.60.

Smith & Nephew SNATS (NYSE:SNN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 17th. The medical equipment provider reported $29.55 earnings per share for the quarter. The company had revenue of $1.60 billion for the quarter. On average, equities research analysts expect that Smith & Nephew SNATS, Inc. will post 1.69 earnings per share for the current year.

Smith & Nephew SNATS Announces Dividend

The company also recently announced a dividend, which will be paid on Wednesday, May 27th. Investors of record on Friday, March 27th will be issued a dividend of $0.482 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a dividend yield of 304.0%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised Smith & Nephew SNATS from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Weiss Ratings reissued a "hold (c+)" rating on shares of Smith & Nephew SNATS in a research report on Wednesday, January 21st. Canaccord Genuity Group boosted their target price on Smith & Nephew SNATS from $34.00 to $35.00 and gave the stock a "hold" rating in a research note on Thursday, March 5th. Finally, Royal Bank Of Canada lowered Smith & Nephew SNATS from an "outperform" rating to a "sector perform" rating in a research report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $36.25.

Smith & Nephew SNATS Company Profile

Smith & Nephew plc is a global medical technology company specializing in the design, development and manufacture of advanced surgical devices, orthopaedic reconstruction implants, trauma and extremities products, sports medicine solutions and wound care therapies. Founded in 1856 in Hull, United Kingdom, the company has grown through both organic innovation and strategic acquisitions to offer a broad portfolio that addresses patient needs across joint replacement, minimally invasive surgery and wound healing.

In its orthopaedics business, Smith & Nephew provides hip and knee replacement systems, modular joint revision implants and biologic solutions for bone repair.

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