Smith & Nephew SNATS (NYSE:SNN) Sets New 12-Month High - Should You 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 stock price reached a new 52-week high on Wednesday . The stock traded as high as $38.79 and last traded at $38.72, with a volume of 994152 shares trading hands. The stock had previously closed at $38.40.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SNN shares. Wall Street Zen raised shares of Smith & Nephew SNATS from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 30th. Canaccord Genuity Group lifted their target price on shares of Smith & Nephew SNATS from $28.00 to $36.00 and gave the company a "hold" rating in a report on Monday, August 18th. Six research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Smith & Nephew SNATS presently has a consensus rating of "Hold" and a consensus target price of $36.00.

Smith & Nephew SNATS Price Performance

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 stock's 50-day simple moving average is $34.36 and its two-hundred day simple moving average is $30.45. The company has a market capitalization of $16.54 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.06 and a beta of 0.71.

Smith & Nephew SNATS Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.285 per share. The ex-dividend date 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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can grew its position in Smith & Nephew SNATS by 321.6% in 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 acquiring an additional 2,616,301 shares in the last quarter. Armistice Capital LLC grew its position in Smith & Nephew SNATS by 258.1% in the 1st quarter. Armistice Capital LLC now owns 1,769,000 shares of the medical equipment provider's stock valued at $50,187,000 after acquiring an additional 1,275,000 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Smith & Nephew SNATS by 6,663.4% during the second quarter. JPMorgan Chase & Co. now owns 1,210,655 shares of the medical equipment provider's stock worth $37,082,000 after buying an additional 1,192,755 shares in the last quarter. ABC Arbitrage SA grew its position in shares of Smith & Nephew SNATS by 1,063.4% during the second quarter. ABC Arbitrage SA now owns 898,635 shares of the medical equipment provider's stock worth $27,525,000 after buying an additional 821,393 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Smith & Nephew SNATS by 49.2% during the first quarter. Goldman Sachs Group Inc. now owns 1,771,401 shares of the medical equipment provider's stock worth $50,255,000 after buying an additional 583,809 shares in the last quarter. 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.