ABC Arbitrage SA Sells 119,964 Shares of 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 holdings in Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) by 60.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 77,242 shares of the medical equipment provider's stock after selling 119,964 shares during the period. ABC Arbitrage SA's holdings in Smith & Nephew SNATS were worth $2,191,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SNN. Cary Street Partners Financial LLC purchased a new stake in shares of Smith & Nephew SNATS during the 1st quarter valued at $547,000. PNC Financial Services Group Inc. boosted its position in Smith & Nephew SNATS by 8.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,923 shares of the medical equipment provider's stock valued at $282,000 after buying an additional 803 shares during the last quarter. US Bancorp DE boosted its position in Smith & Nephew SNATS by 19.8% in the 1st quarter. US Bancorp DE now owns 16,299 shares of the medical equipment provider's stock valued at $462,000 after buying an additional 2,695 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of Smith & Nephew SNATS by 9.7% in the 1st quarter. Natixis Advisors LLC now owns 137,986 shares of the medical equipment provider's stock valued at $3,915,000 after purchasing an additional 12,197 shares in the last quarter. Finally, Clark Estates Inc. NY raised its stake in shares of Smith & Nephew SNATS by 6.3% in the 1st quarter. Clark Estates Inc. NY now owns 850,000 shares of the medical equipment provider's stock valued at $24,114,000 after purchasing an additional 50,000 shares in the last quarter. 25.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on SNN. HSBC lowered shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research note on Friday, April 25th. Hsbc Global Res cut shares of Smith & Nephew SNATS from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Finally, Canaccord Genuity Group raised their target price on shares of Smith & Nephew SNATS from $27.00 to $28.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $28.00.

Smith & Nephew SNATS Stock Up 0.1%

Shares of NYSE:SNN traded up $0.03 during trading on Friday, reaching $36.11. 1,334,815 shares of the company traded hands, compared to its average volume of 1,071,249. The firm has a fifty day simple moving average of $30.57 and a 200 day simple moving average of $28.44. The firm has a market cap of $15.82 billion, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 1.10 and a beta of 0.68. Smith & Nephew SNATS, Inc. has a 1-year low of $23.69 and a 1-year high of $36.56. The company has a quick ratio of 1.33, a current ratio of 3.00 and a debt-to-equity ratio of 0.60.

Smith & Nephew SNATS Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a dividend yield of 210.0%. Smith & Nephew SNATS's dividend payout ratio (DPR) is 41.20%.

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.