Smith & Nephew SNATS (NYSE:SNN) Hits New 12-Month High Following 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 hit 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 traded. The stock had previously closed at $36.29.

Other equities analysts have also recently issued reports about 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 lowered shares of Smith & Nephew SNATS from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Six research analysts have rated the stock with a Hold rating, According to MarketBeat, Smith & Nephew SNATS has a consensus rating of "Hold" and a consensus target price of $36.00.

Hedge Funds Weigh In On Smith & Nephew SNATS

Institutional investors have recently bought and sold shares of the business. Hexagon Capital Partners LLC boosted its position 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 buying an additional 406 shares during the last quarter. Richards Merrill & Peterson Inc. grew its position in shares of Smith & Nephew SNATS by 500.0% during the 1st quarter. Richards Merrill & Peterson Inc. now owns 1,200 shares of the medical equipment provider's stock worth $34,000 after purchasing 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 $44,000. Bessemer Group Inc. lifted its stake in shares of 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 during the last quarter. Finally, Banque Transatlantique SA bought a new position in Smith & Nephew SNATS in the first quarter valued at about $52,000. Institutional investors own 25.64% of the company's stock.

Smith & Nephew SNATS Trading Up 1.4%

The firm's 50 day moving average is $31.37 and its two-hundred day moving average is $28.94. The company has a market cap of $16.12 billion, a P/E ratio of 17.04, a PEG ratio of 1.00 and a beta of 0.68. The company has a quick ratio of 1.40, a current ratio of 3.00 and a debt-to-equity ratio of 0.60.

Smith & Nephew SNATS Cuts Dividend

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

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