Smith & Nephew SNATS (NYSE:SNN) Sets New 52-Week High - Still a Buy?

Key Points

• Smith & Nephew SNATS reached a new 52-week high, trading at $38.79, indicating strong market interest in the stock.
• Several analysts have raised their price targets for Smith & Nephew, with Canaccord Genuity increasing its target from $28 to $36, and Wall Street Zen upgrading it to a "strong-buy" rating.
• The company announced a semi-annual dividend of $0.285, with a yield of 210.0%, and a dividend payout ratio of 26.39%.

Smith & Nephew SNATS, Inc. (NYSE:SNN - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $38.79 and last traded at $38.72, with a volume of 994152 shares. The stock had previously closed at $38.40.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SNN shares. Canaccord Genuity Group boosted their price target on shares of Smith & Nephew SNATS from $28.00 to $36.00 and gave the stock a "hold" rating in a research note on Monday, August 18th. Wall Street Zen upgraded shares of Smith & Nephew SNATS from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 30th. Six analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $36.00.

Smith & Nephew SNATS Stock Down 0.5%

The company has a market cap of $16.38 billion, a PE ratio of 17.39, a P/E/G ratio of 1.04 and a beta of 0.70. The company has a quick ratio of 1.40, a current ratio of 3.00 and a debt-to-equity ratio of 0.60. The firm's fifty day simple moving average is $34.36 and its 200-day simple moving average is $30.47.

Smith & Nephew SNATS Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, November 7th. Shareholders 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 is 41.20%.

Hedge Funds Weigh In On Smith & Nephew SNATS

Several institutional investors and hedge funds have recently modified their holdings of SNN. Hexagon Capital Partners LLC lifted its stake in shares of Smith & Nephew SNATS by 63.3% during the first 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 stake in shares of Smith & Nephew SNATS by 500.0% during the first 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 purchased a new position in shares of Smith & Nephew SNATS during the second quarter valued at approximately $44,000. Bessemer Group Inc. lifted its stake in shares of Smith & Nephew SNATS by 3,471.4% during the first 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 purchased a new position in shares of Smith & Nephew SNATS during the first quarter valued at approximately $52,000. Hedge funds and other institutional investors own 25.64% of the company's stock.

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.