Smith & Nephew SNATS (NYSE:SNN) Sees Strong Trading Volume - Here's Why

Key Points

• Trading volume surged 38% to approximately 1.72 million shares, while Smith & Nephew SNATS shares fell 3.5% to about $27.82 from the prior close of $28.87.
• Analyst sentiment has weakened, with several firms downgrading the stock. MarketBeat reports an average rating of “Reduce” and a consensus price target of $30.93.
• The company announced a $0.312 dividend payable November 6 to shareholders of record October 2; institutional investors own approximately 25.64% of the stock.

Smith & Nephew SNATS, Inc. (NYSE:SNN - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 1,723,996 shares were traded during mid-day trading, an increase of 38% from the previous session's volume of 1,248,832 shares.The stock last traded at $27.8150 and had previously closed at $28.87.

Analyst Upgrades and Downgrades

SNN has been the subject of several recent analyst reports. Kepler Capital Markets lowered shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a report on Thursday, June 4th. Zacks Research lowered shares of Smith & Nephew SNATS from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. Bank of America cut shares of Smith & Nephew SNATS from a "buy" rating to a "neutral" rating in a research report on Tuesday. Barclays lowered Smith & Nephew SNATS from an "equal weight" rating to an "underweight" rating in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. restated a "neutral" rating on shares of Smith & Nephew SNATS in a research note on Thursday, August 6th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $30.93.

Smith & Nephew SNATS Stock Down 3.5%

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 fifty day moving average price is $30.08 and its 200 day moving average price is $31.37.

Smith & Nephew SNATS Announces Dividend

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

Institutional Trading of Smith & Nephew SNATS

Several hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LP grew its stake in Smith & Nephew SNATS by 3.7% during the 2nd quarter. Corient Private Wealth LP now owns 26,018 shares of the medical equipment provider's stock worth $750,000 after buying an additional 932 shares during the last quarter. Plan A Wealth LLC boosted its holdings in shares of Smith & Nephew SNATS by 16.5% during the second quarter. Plan A Wealth LLC now owns 8,607 shares of the medical equipment provider's stock valued at $248,000 after acquiring an additional 1,221 shares during the period. Concurrent Investment Advisors LLC bought a new position in shares of Smith & Nephew SNATS during the second quarter worth about $313,000. Rakuten Investment Management Inc. acquired a new stake in shares of Smith & Nephew SNATS in the 2nd quarter worth about $732,000. Finally, Empowered Funds LLC acquired a new stake in shares of Smith & Nephew SNATS in the 2nd quarter worth about $824,000. Institutional investors own 25.64% of the company's stock.

About Smith & Nephew SNATS

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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