Wall Street Zen Upgrades Smith & Nephew SNATS (NYSE:SNN) to Strong-Buy

Key Points

• Smith & Nephew SNATS has been upgraded from a "buy" to a "strong-buy" rating by analysts at Wall Street Zen.
• Canaccord Genuity Group raised the stock's target price from $28.00 to $36.00, while maintaining a "hold" rating.
• Smith & Nephew SNATS shares have shown a 0.7% increase, with current trading at $37.47 and a market capitalization of $16.41 billion.

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

Separately, Canaccord Genuity Group lifted their target price on Smith & Nephew SNATS from $28.00 to $36.00 and gave the company a "hold" rating in a research note on Monday, August 18th. Six equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock 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 $0.24 during midday trading on Friday, hitting $37.47. The company had a trading volume of 484,378 shares, compared to its average volume of 918,216. The company's 50 day simple moving average is $32.81 and its 200 day simple moving average is $29.69. Smith & Nephew SNATS has a 52-week low of $23.69 and a 52-week high of $37.65. The stock has a market cap of $16.41 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 1.03 and a beta of 0.70. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.00 and a quick ratio of 1.40.

Smith & Nephew SNATS Cuts Dividend

The firm also recently declared 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. 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 (DPR) is currently 41.20%.

Institutional Trading of Smith & Nephew SNATS

Hedge funds have recently modified their holdings of the business. Hexagon Capital Partners LLC lifted its holdings in shares of 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 period. Richards Merrill & Peterson Inc. lifted its holdings in shares of 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 buying an additional 1,000 shares during the period. AlphaCore Capital LLC acquired a new stake in shares of Smith & Nephew SNATS in the 2nd quarter valued at approximately $44,000. Bessemer Group Inc. lifted its holdings 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 buying an additional 1,701 shares during the period. Finally, Banque Transatlantique SA acquired a new position in Smith & Nephew SNATS during the first quarter worth $52,000. 25.64% of the stock is owned by institutional investors and hedge funds.

About Smith & Nephew SNATS

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.