Smith & Nephew SNATS (NYSE:SNN) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Trading volume surged 82% to 2.18 million shares, while Smith & Nephew SNATS shares edged down 0.2% to $28.85.
• Analyst sentiment remains mixed, with two Buy, seven Hold and two Sell ratings; the consensus rating is Hold with a target price of $30.93.
• The company declared a $0.312 dividend payable November 6 to shareholders of record October 2, while institutional and hedge-fund investors own 25.64% of the stock.

Smith & Nephew SNATS, Inc. (NYSE:SNN - Get Free Report) shares saw unusually-high trading volume on Monday . 2,182,169 shares traded hands during trading, an increase of 82% from the previous session's volume of 1,197,121 shares.The stock last traded at $28.85 and had previously closed at $28.97.

Wall Street Analysts Forecast Growth

SNN has been the subject of several recent analyst reports. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Smith & Nephew SNATS in a report on Thursday, August 6th. Kepler Capital Markets cut Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research report on Thursday, June 4th. Barclays downgraded Smith & Nephew SNATS from an "equal weight" rating to an "underweight" rating in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Smith & Nephew SNATS from a "hold" rating to a "buy" rating in a research report on Monday, August 24th. Finally, Sanford C. Bernstein set a $31.85 target price on shares of Smith & Nephew SNATS in a research report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $30.93.

Smith & Nephew SNATS Stock Down 0.2%

The firm has a 50 day moving average of $30.22 and a two-hundred day moving average of $31.66. The company has a quick ratio of 1.11, a current ratio of 2.14 and a debt-to-equity ratio of 0.62.

Smith & Nephew SNATS Announces Dividend

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

Institutional Investors Weigh In On Smith & Nephew SNATS

Several institutional investors and hedge funds have recently made changes to their positions in SNN. Clearstead Trust LLC purchased a new position in Smith & Nephew SNATS during the 2nd quarter valued at about $25,000. Garner Asset Management Corp acquired a new stake in shares of Smith & Nephew SNATS in the fourth quarter valued at approximately $27,000. Arax Advisory Partners grew its position in shares of Smith & Nephew SNATS by 142.6% in the fourth quarter. Arax Advisory Partners now owns 968 shares of the medical equipment provider's stock valued at $32,000 after purchasing an additional 569 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Smith & Nephew SNATS during the 4th quarter worth approximately $36,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Smith & Nephew SNATS during the 3rd quarter worth approximately $41,000. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

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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