ABC Arbitrage SA Decreases Stake in Smith & Nephew SNATS, Inc. (NYSE:SNN)

Key Points

• ABC Arbitrage SA has reduced its position in Smith & Nephew SNATS, Inc. by 60.8%, now holding 77,242 shares valued at approximately $2.2 million.
• Several other institutional investors, including Hexagon Capital Partners LLC and National Bank of Canada FI, have increased their stakes in the company, indicating a mixed sentiment among investors.
• The stock is currently trading at $30.79 with a price-to-earnings ratio of 14.26, and analysts have a consensus rating of "Hold" with a target price of $28.00.

ABC Arbitrage SA cut its position in Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) by 60.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,242 shares of the medical equipment provider's stock after selling 119,964 shares during the quarter. ABC Arbitrage SA's holdings in Smith & Nephew SNATS were worth $2,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. J. Goldman & Co LP bought a new position in shares of Smith & Nephew SNATS in the fourth quarter worth $47,700,000. Clark Estates Inc. NY grew its position in Smith & Nephew SNATS by 6.3% during the first quarter. Clark Estates Inc. NY now owns 850,000 shares of the medical equipment provider's stock worth $24,114,000 after buying an additional 50,000 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Smith & Nephew SNATS by 15.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 618,691 shares of the medical equipment provider's stock worth $17,552,000 after acquiring an additional 83,341 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Smith & Nephew SNATS by 169.9% in the 4th quarter. Northern Trust Corp now owns 508,392 shares of the medical equipment provider's stock valued at $12,496,000 after acquiring an additional 320,054 shares in the last quarter. Finally, Causeway Capital Management LLC purchased a new stake in shares of Smith & Nephew SNATS in the 4th quarter valued at about $11,820,000. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SNN shares. HSBC downgraded shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research note on Friday, April 25th. Canaccord Genuity Group raised their price objective on shares of Smith & Nephew SNATS from $27.00 to $28.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Finally, Hsbc Global Res cut Smith & Nephew SNATS from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Six analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Smith & Nephew SNATS currently has a consensus rating of "Hold" and an average price target of $28.00.

Smith & Nephew SNATS Price Performance

Shares of SNN stock traded up $0.55 during trading hours on Thursday, hitting $36.05. 1,425,478 shares of the company's stock were exchanged, compared to its average volume of 1,143,318. The company has a market capitalization of $15.79 billion, a PE ratio of 16.69, a PEG ratio of 1.08 and a beta of 0.68. The company has a current ratio of 3.00, a quick ratio of 1.33 and a debt-to-equity ratio of 0.60. Smith & Nephew SNATS, Inc. has a 12-month low of $23.69 and a 12-month high of $36.56. The business's 50 day simple moving average is $30.43 and its 200-day simple moving average is $28.37.

Smith & Nephew SNATS Cuts Dividend

The firm also recently declared 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 is presently 41.20%.

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.