Scharf Investments LLC Has $63.82 Million Stake in Smith & Nephew SNATS, Inc. $SNN

Key Points

• Scharf Investments LLC increased its stake in Smith & Nephew SNATS, Inc. by 0.3%, owning approximately 2.08 million shares valued at about $63.8 million, making it the company's 25th largest position.
• Several institutional investors, including Hexagon Capital Partners LLC and Bessemer Group Inc., have significantly boosted their positions in Smith & Nephew, indicating growing interest in the stock.
• The company recently announced a semi-annual dividend of $0.285 per share, to be paid on November 7th, reflecting a payout ratio of 26.39% as of the latest filing.

Scharf Investments LLC boosted its holdings in shares of Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,083,513 shares of the medical equipment provider's stock after acquiring an additional 6,993 shares during the period. Smith & Nephew SNATS makes up approximately 1.8% of Scharf Investments LLC's investment portfolio, making the stock its 25th largest holding. Scharf Investments LLC owned 0.48% of Smith & Nephew SNATS worth $63,818,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Armistice Capital LLC raised its stake in shares of Smith & Nephew SNATS by 258.1% in the 1st quarter. Armistice Capital LLC now owns 1,769,000 shares of the medical equipment provider's stock valued at $50,187,000 after purchasing an additional 1,275,000 shares during the period. Goldman Sachs Group Inc. increased its position in Smith & Nephew SNATS by 49.2% during the first quarter. Goldman Sachs Group Inc. now owns 1,771,401 shares of the medical equipment provider's stock worth $50,255,000 after buying an additional 583,809 shares during the last quarter. Northern Trust Corp increased its position in Smith & Nephew SNATS by 32.7% during the first quarter. Northern Trust Corp now owns 674,640 shares of the medical equipment provider's stock worth $19,140,000 after buying an additional 166,248 shares during the last quarter. Causeway Capital Management LLC grew its position in shares of Smith & Nephew SNATS by 26.3% in the first quarter. Causeway Capital Management LLC now owns 607,357 shares of the medical equipment provider's stock valued at $17,231,000 after purchasing an additional 126,469 shares during the last quarter. Finally, Tocqueville Asset Management L.P. grew its position in shares of Smith & Nephew SNATS by 91.6% in the first quarter. Tocqueville Asset Management L.P. now owns 251,563 shares of the medical equipment provider's stock valued at $7,137,000 after purchasing an additional 120,291 shares during the last quarter. 25.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SNN has been the subject of several recent research reports. Canaccord Genuity Group boosted their price target on Smith & Nephew SNATS from $28.00 to $36.00 and gave the company a "hold" rating in a research note on Monday, August 18th. Wall Street Zen raised Smith & Nephew SNATS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 30th. Six analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $36.00.

Smith & Nephew SNATS Stock Down 0.8%

Shares of SNN traded down $0.28 during trading hours on Monday, hitting $36.57. The stock had a trading volume of 644,933 shares, compared to its average volume of 613,874. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.00 and a quick ratio of 1.40. The firm has a 50 day simple moving average of $35.18 and a 200-day simple moving average of $30.78. The firm has a market capitalization of $15.92 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 1.02 and a beta of 0.70. Smith & Nephew SNATS, Inc. has a 1-year low of $23.69 and a 1-year high of $38.79.

Smith & Nephew SNATS Cuts Dividend

The company also recently announced 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 is Friday, October 3rd. This represents a dividend yield of 210.0%. Smith & Nephew SNATS's dividend payout ratio (DPR) is currently 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.