Smith & Nephew SNATS (NYSE:SNN) Cut to Buy at Wall Street Zen

Key Points

• Smith & Nephew SNATS (NYSE:SNN) has been downgraded by Wall Street Zen from a "strong-buy" to a "buy" rating in a recently issued research report.
• The average price target for Smith & Nephew SNATS is now $36.00, with several analysts recently giving the stock a "hold" rating.
• Shares of Smith & Nephew SNATS are currently priced at approximately $37.53, reflecting a 1.5% increase.

Wall Street Zen cut shares of Smith & Nephew SNATS (NYSE:SNN - Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Friday.

A number of other research analysts have also recently weighed in on the company. Canaccord Genuity Group lifted their price objective on Smith & Nephew SNATS from $28.00 to $36.00 and gave the company a "hold" rating in a research report on Monday, August 18th. Hsbc Global Res cut Smith & Nephew SNATS from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Finally, HSBC cut Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Six equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $36.00.

Smith & Nephew SNATS Stock Performance

Shares of SNN stock traded up $0.03 during trading hours on Friday, reaching $37.28. 318,686 shares of the company traded hands, compared to its average volume of 972,355. Smith & Nephew SNATS has a 12-month low of $23.69 and a 12-month high of $37.65. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.00 and a quick ratio of 1.40. The company has a market cap of $16.33 billion, a P/E ratio of 17.26, a P/E/G ratio of 1.03 and a beta of 0.68. The firm has a 50-day moving average price of $32.64 and a 200 day moving average price of $29.55.

Smith & Nephew SNATS Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.285 per share. This represents a dividend yield of 210.0%. The ex-dividend date of this dividend is Friday, October 3rd. Smith & Nephew SNATS's dividend payout ratio is 41.20%.

Institutional Trading of Smith & Nephew SNATS

Several hedge funds have recently modified their holdings of the company. Bank of Montreal Can raised its holdings in shares of Smith & Nephew SNATS by 321.6% during the 2nd quarter. Bank of Montreal Can now owns 3,429,829 shares of the medical equipment provider's stock worth $105,056,000 after acquiring an additional 2,616,301 shares in the last quarter. River Road Asset Management LLC raised its holdings in shares of Smith & Nephew SNATS by 9.3% during the 2nd quarter. River Road Asset Management LLC now owns 3,179,814 shares of the medical equipment provider's stock worth $97,175,000 after acquiring an additional 270,480 shares in the last quarter. Scharf Investments LLC raised its holdings in shares of Smith & Nephew SNATS by 0.3% during the 2nd quarter. Scharf Investments LLC now owns 2,083,513 shares of the medical equipment provider's stock worth $63,818,000 after acquiring an additional 6,993 shares in the last quarter. J. Goldman & Co LP purchased a new stake in shares of Smith & Nephew SNATS during the 4th quarter worth approximately $47,700,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Smith & Nephew SNATS by 49.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,771,401 shares of the medical equipment provider's stock worth $50,255,000 after acquiring an additional 583,809 shares in the last quarter. 25.64% of the stock is owned by hedge funds and other institutional investors.

Smith & Nephew SNATS Company Profile

Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT.