Smith & Nephew SNATS, Inc. $SNN Shares Acquired by Causeway Capital Management LLC

Key Points

• Causeway Capital Management LLC increased its holdings in Smith & Nephew SNATS by 26.3%, acquiring an additional 126,469 shares during the first quarter, bringing its total ownership to approximately $17.23 million.
• Several other institutional investors, including Northern Trust Corp and Brooklyn Investment Group, also increased their stakes in the company during the same period, highlighting strong institutional interest.
• Smith & Nephew SNATS recently received a price target increase from Canaccord Genuity Group, raising it from $28.00 to $36.00, yet analysts have downgraded its rating from a "strong-buy" to a "buy."

Causeway Capital Management LLC boosted its holdings in shares of Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) by 26.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 607,357 shares of the medical equipment provider's stock after purchasing an additional 126,469 shares during the quarter. Causeway Capital Management LLC owned approximately 0.14% of Smith & Nephew SNATS worth $17,231,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp lifted its position in shares of Smith & Nephew SNATS by 32.7% during the 1st quarter. Northern Trust Corp now owns 674,640 shares of the medical equipment provider's stock valued at $19,140,000 after buying an additional 166,248 shares in the last quarter. Brooklyn Investment Group lifted its holdings in Smith & Nephew SNATS by 3,086.3% during the first quarter. Brooklyn Investment Group now owns 4,429 shares of the medical equipment provider's stock valued at $126,000 after purchasing an additional 4,290 shares in the last quarter. Penn Mutual Asset Management purchased a new position in Smith & Nephew SNATS during the first quarter valued at $378,000. Corient IA LLC acquired a new stake in shares of Smith & Nephew SNATS in the first quarter valued at about $284,000. Finally, Raymond James Financial Inc. increased its stake in shares of Smith & Nephew SNATS by 27.7% during the first quarter. Raymond James Financial Inc. now owns 259,429 shares of the medical equipment provider's stock worth $7,360,000 after purchasing an additional 56,342 shares in the last quarter. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNN has been the topic of several research analyst reports. Wall Street Zen cut Smith & Nephew SNATS from a "strong-buy" rating to a "buy" rating in a report on Friday. Canaccord Genuity Group lifted their price target on 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, the stock currently has a consensus rating of "Hold" and an average price target of $36.00.

Smith & Nephew SNATS Trading Down 0.8%

SNN opened at $37.1950 on Tuesday. Smith & Nephew SNATS, Inc. has a 52 week low of $23.69 and a 52 week high of $37.65. The company has a quick ratio of 1.40, a current ratio of 3.00 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $32.11 and a 200-day simple moving average of $29.35. The firm has a market cap of $16.29 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.03 and a beta of 0.68.

Smith & Nephew SNATS Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 3rd will be paid 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 dividend payout ratio (DPR) is presently 26.39%.

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.

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