Smith & Nephew SNATS (NYSE:SNN) Sets New 12-Month Low - Time to Sell?

Key Points

• Smith & Nephew SNATS shares fell to a new 52-week low of $27.05, below both their 50-day moving average of $29.57 and 200-day moving average of $30.71.
• Analyst sentiment is mixed but leans neutral: the stock has a consensus “Hold” rating from 12 analysts, with an average price target of $31.91.
• Institutional investors own 25.64% of the company, with recent purchases from BlackRock and other funds; the company also declared a $0.312-per-share dividend payable November 6.

Smith & Nephew SNATS, Inc. (NYSE:SNN - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $27.05 and last traded at $27.0610, with a volume of 130820 shares trading hands. The stock had previously closed at $27.50.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNN. Wall Street Zen upgraded shares of Smith & Nephew SNATS from a "hold" rating to a "buy" rating in a research note on Sunday, September 13th. Barclays lowered Smith & Nephew SNATS from an "equal weight" rating to an "underweight" rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Smith & Nephew SNATS from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, September 4th. Kepler Capital Markets downgraded Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research note on Thursday, June 4th. Finally, Morgan Stanley downgraded shares of Smith & Nephew SNATS from an "overweight" rating to an "equal weight" rating in a report on Wednesday, September 2nd. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Smith & Nephew SNATS has a consensus rating of "Hold" and an average price target of $31.91.

Smith & Nephew SNATS Price Performance

The business has a fifty day moving average price of $29.57 and a 200 day moving average price of $30.71. The company has a current ratio of 2.14, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

Smith & Nephew SNATS Dividend Announcement

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

Institutional Investors Weigh In On Smith & Nephew SNATS

Several institutional investors and hedge funds have recently modified their holdings of SNN. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Smith & Nephew SNATS during the second quarter worth approximately $13,812,000. Grandfield & Dodd LLC acquired a new stake in Smith & Nephew SNATS during the second quarter worth about $13,192,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Smith & Nephew SNATS during the 2nd quarter worth approximately $2,170,000. Teachers Retirement System of The State of Kentucky lifted its stake in Smith & Nephew SNATS by 51.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 905,100 shares of the medical equipment provider's stock valued at $28,764,000 after buying an additional 305,600 shares during the last quarter. Finally, BlackRock Inc. bought a new stake in Smith & Nephew SNATS in the 2nd quarter valued at about $505,323,000. Hedge funds and other institutional investors own 25.64% of the company's stock.

About Smith & Nephew SNATS

Smith & Nephew plc is a global medical technology company headquartered in the United Kingdom. Founded in 1856 by Thomas James Smith in Hull, the company initially operated as a pharmacy business before expanding into healthcare products and medical devices.

The company develops and manufactures technologies used in orthopaedic reconstruction, sports medicine, and advanced wound management. Its products include joint replacement systems, trauma and extremities devices, arthroscopic equipment, surgical repair technologies, wound dressings, negative-pressure wound therapy systems, and other products designed to support tissue healing and surgical care.

Smith & Nephew serves hospitals, healthcare professionals, and patients in markets around the world.

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