Smith & Nephew SNATS, Inc. $SNN Stock Position Lowered by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital cut its Smith & Nephew SNATS position by 52.4% in the first quarter, selling 378,208 shares and retaining 343,482 shares valued at approximately $10.9 million.
• Other institutional investors adjusted their holdings, while hedge funds and institutions collectively owned 25.64% of SNN at the end of the quarter.
• SNN opened at $31.53, within a 12-month range of $28.56 to $38.79. Analysts have a consensus “Hold” rating and an average price target of $30.93, with one Buy rating and five Holds.

Arrowstreet Capital Limited Partnership reduced its position in shares of Smith & Nephew SNATS, Inc. (NYSE:SNN - Free Report) by 52.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 343,482 shares of the medical equipment provider's stock after selling 378,208 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.08% of Smith & Nephew SNATS worth $10,916,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Garner Asset Management Corp bought a new stake in Smith & Nephew SNATS during the fourth quarter worth approximately $27,000. Arax Advisory Partners grew its holdings in shares of Smith & Nephew SNATS by 142.6% during the fourth quarter. Arax Advisory Partners now owns 968 shares of the medical equipment provider's stock worth $32,000 after purchasing an additional 569 shares during the last quarter. Advisors Asset Management Inc. bought a new position in Smith & Nephew SNATS in the 4th quarter valued at $36,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Smith & Nephew SNATS during the 3rd quarter valued at $41,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Smith & Nephew SNATS during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 25.64% of the company's stock.

Smith & Nephew SNATS Stock Performance

SNN stock opened at $31.53 on Friday. The firm has a 50-day moving average price of $30.42 and a 200-day moving average price of $32.20. Smith & Nephew SNATS, Inc. has a 12 month low of $28.56 and a 12 month high of $38.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.57 and a quick ratio of 1.25.

Analyst Ratings Changes

A number of research analysts recently issued reports on SNN shares. The Goldman Sachs Group reiterated a "buy" rating on shares of Smith & Nephew SNATS in a report on Monday, May 25th. Kepler Capital Markets downgraded Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research report on Thursday, June 4th. Sanford C. Bernstein set a $31.85 price target on shares of Smith & Nephew SNATS in a research note on Monday, May 11th. Canaccord Genuity Group lowered their price objective on shares of Smith & Nephew SNATS from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Monday, May 11th. Finally, Weiss Ratings lowered shares of Smith & Nephew SNATS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $30.93.

Smith & Nephew SNATS Profile

Smith & Nephew plc is a global medical technology company specializing in the design, development and manufacture of advanced surgical devices, orthopaedic reconstruction implants, trauma and extremities products, sports medicine solutions and wound care therapies. Founded in 1856 in Hull, United Kingdom, the company has grown through both organic innovation and strategic acquisitions to offer a broad portfolio that addresses patient needs across joint replacement, minimally invasive surgery and wound healing.

In its orthopaedics business, Smith & Nephew provides hip and knee replacement systems, modular joint revision implants and biologic solutions for bone repair.

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