Smith & Nephew SNATS (NYSE:SNN) Hits New 52-Week Low Following Analyst Downgrade

Key Points

• Smith & Nephew SNATS hit a new 52-week low of $27.57 after Bank of America downgraded the stock from “buy” to “neutral.” The shares last traded at $27.8350, below the prior close of $28.87.
• Analyst sentiment is broadly cautious: one analyst rates the stock a Buy, nine rate it Hold and two rate it Sell. MarketBeat reports a consensus “Reduce” rating and an average price target of $30.93.
• Institutional investors and hedge funds own 25.64% of the company, while recent investors established or increased positions. Smith & Nephew also declared a $0.312-per-share dividend payable November 6 to shareholders of record October 2.

Smith & Nephew SNATS, Inc. (NYSE:SNN - Get Free Report) hit a new 52-week low on Wednesday after Bank of America downgraded the stock from a buy rating to a neutral rating. The company traded as low as $27.57 and last traded at $27.8350, with a volume of 3636722 shares changing hands. The stock had previously closed at $28.87.

Several other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group reiterated a "buy" rating on shares of Smith & Nephew SNATS in a research report on Monday, May 25th. Zacks Research downgraded Smith & Nephew SNATS from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. restated a "neutral" rating on shares of Smith & Nephew SNATS in a research report on Thursday, August 6th. Barclays lowered Smith & Nephew SNATS from an "equal weight" rating to an "underweight" rating in a research note on Wednesday, August 5th. Finally, BTIG Research assumed coverage on Smith & Nephew SNATS in a research note on Monday, August 31st. They issued a "neutral" rating on the stock. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $30.93.

Hedge Funds Weigh In On Smith & Nephew SNATS

Several institutional investors and hedge funds have recently bought and sold shares of the company. Clearstead Trust LLC purchased a new stake in shares of Smith & Nephew SNATS during the second quarter worth $25,000. Addison Advisors LLC acquired a new stake in shares of Smith & Nephew SNATS in the 2nd quarter worth approximately $43,000. Allworth Financial LP acquired a new stake in Smith & Nephew SNATS during the 2nd quarter valued at $48,000. Arax Advisory Partners lifted its stake in shares of Smith & Nephew SNATS by 142.6% during the 4th 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 period. Finally, Advisors Asset Management Inc. purchased a new position in Smith & Nephew SNATS during the fourth quarter worth about $36,000. 25.64% of the stock is currently owned by institutional investors and hedge funds.

Smith & Nephew SNATS Stock Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 2.14 and a quick ratio of 1.11. The company's 50-day moving average is $30.06 and its 200-day moving average is $31.31.

Smith & Nephew SNATS Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 2nd will be given a dividend of $0.312 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a yield of 205.0%.

Smith & Nephew SNATS Company 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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