Fiduciary Management Inc. WI Lowers Stake in Smith & Nephew SNATS, Inc. $SNN

Key Points

• Fiduciary Management Inc. WI reduced its stake in Smith & Nephew SNATS, Inc. by 6.3% in Q1, now owning approximately 3.75 million shares worth $106.32 million.
• Several institutional investors significantly increased their stakes, with Bessemer Group Inc. raising its stake by 3,471.4%.
• The average analyst rating for Smith & Nephew is currently "Hold" with a consensus target price of $36.00, which reflects recent adjustments in ratings and price objectives.

Fiduciary Management Inc. WI lessened its position in shares of Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) by 6.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,747,726 shares of the medical equipment provider's stock after selling 250,915 shares during the quarter. Fiduciary Management Inc. WI owned about 0.86% of Smith & Nephew SNATS worth $106,323,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hexagon Capital Partners LLC boosted its position in shares of Smith & Nephew SNATS by 63.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,047 shares of the medical equipment provider's stock valued at $30,000 after acquiring an additional 406 shares during the last quarter. Richards Merrill & Peterson Inc. grew its stake in shares of Smith & Nephew SNATS by 500.0% in the 1st quarter. Richards Merrill & Peterson Inc. now owns 1,200 shares of the medical equipment provider's stock worth $34,000 after buying an additional 1,000 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Smith & Nephew SNATS by 3,471.4% during the 1st quarter. Bessemer Group Inc. now owns 1,750 shares of the medical equipment provider's stock valued at $49,000 after buying an additional 1,701 shares in the last quarter. Hara Capital LLC lifted its holdings in shares of Smith & Nephew SNATS by 391.4% in the 4th quarter. Hara Capital LLC now owns 2,457 shares of the medical equipment provider's stock valued at $60,000 after acquiring an additional 1,957 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in shares of Smith & Nephew SNATS in the 1st quarter valued at about $73,000. 25.64% of the stock is owned by hedge funds and other institutional investors.

Smith & Nephew SNATS Stock Down 0.2%

NYSE SNN traded down $0.08 on Wednesday, reaching $37.22. 158,105 shares of the stock traded hands, compared to its average volume of 881,135. Smith & Nephew SNATS, Inc. has a 12 month low of $23.69 and a 12 month high of $37.65. The company has a market cap of $16.30 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 1.02 and a beta of 0.68. The company has a fifty day moving average price of $32.29 and a 200-day moving average price of $29.41. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 3.00.

Smith & Nephew SNATS Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, November 7th. Investors 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 yield of 210.0%. Smith & Nephew SNATS's dividend payout ratio is 41.20%.

Analyst Ratings Changes

SNN has been the subject of several analyst reports. Wall Street Zen lowered Smith & Nephew SNATS from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Canaccord Genuity Group raised their price target on Smith & Nephew SNATS from $28.00 to $36.00 and gave the stock a "hold" rating in a research report on Monday, August 18th. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $36.00.

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.