Smith & Nephew SNATS (NYSE:SNN) Hits New 1-Year High After Analyst Upgrade

Key Points

• Smith & Nephew SNATS shares reached a new 12-month high, trading at $36.86, after Canaccord Genuity upgraded their price target from $28.00 to $36.00.
• HSBC and other analysts have recently downgraded the stock's rating to "hold," with a consensus target price of $36.00.
• The company announced a semi-annual dividend of $0.285, representing a dividend yield of 210.0%, to be paid on November 7th.

Smith & Nephew SNATS, Inc. (NYSE:SNN - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday after Canaccord Genuity Group raised their price target on the stock from $28.00 to $36.00. Canaccord Genuity Group currently has a hold rating on the stock. Smith & Nephew SNATS traded as high as $36.86 and last traded at $36.81, with a volume of 223971 shares. The stock had previously closed at $36.29.

Several other equities analysts have also recently weighed in on the company. HSBC cut Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Hsbc Global Res cut Smith & Nephew SNATS from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Six analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $36.00.

Hedge Funds Weigh In On Smith & Nephew SNATS

Several large investors have recently added to or reduced their stakes in SNN. Hexagon Capital Partners LLC raised its holdings in Smith & Nephew SNATS by 63.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,047 shares of the medical equipment provider's stock valued at $30,000 after acquiring an additional 406 shares in the last quarter. Richards Merrill & Peterson Inc. raised its holdings in Smith & Nephew SNATS by 500.0% in the 1st quarter. Richards Merrill & Peterson Inc. now owns 1,200 shares of the medical equipment provider's stock valued at $34,000 after acquiring an additional 1,000 shares in the last quarter. AlphaCore Capital LLC acquired a new position in Smith & Nephew SNATS in the 2nd quarter valued at approximately $44,000. Bessemer Group Inc. raised its holdings in Smith & Nephew SNATS by 3,471.4% in the 1st quarter. Bessemer Group Inc. now owns 1,750 shares of the medical equipment provider's stock valued at $49,000 after acquiring an additional 1,701 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new position in Smith & Nephew SNATS in the 1st quarter valued at approximately $52,000. Institutional investors and hedge funds own 25.64% of the company's stock.

Smith & Nephew SNATS Stock Performance

The firm has a fifty day simple moving average of $31.96 and a 200 day simple moving average of $29.24. The company has a current ratio of 3.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60. The stock has a market cap of $16.44 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.03 and a beta of 0.68.

Smith & Nephew SNATS Cuts Dividend

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

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.