Smith & Nephew SNATS (NYSE:SNN) Hits New 12-Month High - Time to Buy?

Key Points

• Smith & Nephew SNATS has reached a new 52-week high of $37.59 as of Monday, showing strong trading activity with 603,940 shares exchanged.
• Recent analyst ratings indicate a shift, with Wall Street Zen downgrading the stock from a "strong-buy" to a "buy," while Canaccord Genuity raised its price target to $36.00, reflecting a consensus Hold rating.
• The company announced a semi-annual dividend of $0.285 per share with a yield of 210.0%, scheduled for payment on November 7th to shareholders of record as of October 3rd.

Smith & Nephew SNATS, Inc. (NYSE:SNN - Get Free Report) shares hit a new 52-week high on Monday . The stock traded as high as $37.58 and last traded at $37.59, with a volume of 603940 shares changing hands. The stock had previously closed at $36.97.

Wall Street Analysts Forecast Growth

SNN has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Smith & Nephew SNATS from a "buy" rating to a "strong-buy" rating in a report on Saturday. Canaccord Genuity Group lifted their target price on Smith & Nephew SNATS from $28.00 to $36.00 and gave the stock a "hold" rating in a report on Monday, August 18th. Six investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $36.00.

Smith & Nephew SNATS Trading Up 0.7%

The stock has a 50-day moving average price of $32.81 and a two-hundred day moving average price of $29.64. The stock has a market capitalization of $16.41 billion, a PE ratio of 17.35, a PEG ratio of 1.03 and a beta of 0.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 3.00.

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. The ex-dividend date of this dividend is Friday, October 3rd. This represents a yield of 210.0%. Smith & Nephew SNATS's dividend payout ratio is currently 41.20%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can grew its holdings in 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 valued at $105,056,000 after buying an additional 2,616,301 shares in the last quarter. River Road Asset Management LLC increased its position in Smith & Nephew SNATS by 9.3% in the second quarter. River Road Asset Management LLC now owns 3,179,814 shares of the medical equipment provider's stock worth $97,175,000 after purchasing an additional 270,480 shares during the last quarter. Scharf Investments LLC increased its stake in Smith & Nephew SNATS by 0.3% during the second 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 during the last quarter. J. Goldman & Co LP bought a new stake in shares of Smith & Nephew SNATS in the 4th quarter valued at approximately $47,700,000. Finally, Goldman Sachs Group Inc. raised its holdings in 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 valued at $50,255,000 after buying an additional 583,809 shares during the period. 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.