Smith & Nephew SNATS (NYSE:SNN) Reaches New 1-Year High - Time to Buy?

Key Points

• Smith & Nephew's stock reached a new 52-week high of $36.65 during trading, signaling potential growth in investor interest.
• Recent analyst reports have led to a change in ratings, with HSBC downgrading the stock from "buy" to "hold", while Canaccord Genuity increased the price objective to $28.00.
• The company has announced a semi-annual dividend of $0.285 per share, resulting in a dividend yield of 210.0%, with a payout ratio of 41.20%.

Shares of Smith & Nephew SNATS, Inc. (NYSE:SNN - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $36.65 and last traded at $36.63, with a volume of 2149 shares changing hands. The stock had previously closed at $36.23.

Analyst Upgrades and Downgrades

SNN has been the subject of a number of research analyst reports. Hsbc Global Res lowered shares of Smith & Nephew SNATS from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Canaccord Genuity Group increased their price objective on Smith & Nephew SNATS from $27.00 to $28.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Finally, HSBC downgraded Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a report on Friday, April 25th. Six research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $28.00.

Smith & Nephew SNATS Stock Performance

The company has a market capitalization of $16.05 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 1.10 and a beta of 0.68. 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 stock has a 50 day moving average price of $30.85 and a two-hundred day moving average price of $28.61.

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 given a dividend of $0.285 per share. This represents a dividend yield of 210.0%. The ex-dividend date is Friday, October 3rd. Smith & Nephew SNATS's payout ratio is presently 41.20%.

Hedge Funds Weigh In On Smith & Nephew SNATS

Several institutional investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC lifted its stake 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. lifted its stake 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 bought a new stake in Smith & Nephew SNATS in the 2nd quarter valued at approximately $44,000. Bessemer Group Inc. lifted its stake 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 shares of Smith & Nephew SNATS during the 1st quarter worth approximately $52,000. 25.64% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.