Smith & Nephew SNATS (NYSE:SNN) Sees Strong Trading Volume - Still a Buy?

Smith & Nephew SNATS, Inc. (NYSE:SNN - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 1,805,283 shares traded hands during trading, an increase of 122% from the previous session's volume of 812,288 shares.The stock last traded at $30.51 and had previously closed at $29.77.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SNN. Hsbc Global Res cut Smith & Nephew SNATS from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. HSBC lowered Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, Canaccord Genuity Group upped their price target on shares of Smith & Nephew SNATS from $27.00 to $28.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $28.00.

Smith & Nephew SNATS Stock Performance

The firm has a 50 day moving average price of $29.30 and a 200-day moving average price of $27.42. The stock has a market capitalization of $13.27 billion, a PE ratio of 14.02, a PEG ratio of 0.94 and a beta of 0.69. The company has a quick ratio of 1.33, a current ratio of 2.89 and a debt-to-equity ratio of 0.62.

Institutional Investors Weigh In On Smith & Nephew SNATS

A number of institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its stake in Smith & Nephew SNATS by 4.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,077 shares of the medical equipment provider's stock worth $1,092,000 after purchasing an additional 1,512 shares during the last quarter. Gallacher Capital Management LLC grew its stake in Smith & Nephew SNATS by 6.4% during the 2nd quarter. Gallacher Capital Management LLC now owns 10,622 shares of the medical equipment provider's stock valued at $325,000 after acquiring an additional 639 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Smith & Nephew SNATS by 15.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,149 shares of the medical equipment provider's stock valued at $118,000 after acquiring an additional 541 shares during the last quarter. Focus Partners Wealth lifted its stake in Smith & Nephew SNATS by 59.8% in the 1st quarter. Focus Partners Wealth now owns 19,438 shares of the medical equipment provider's stock worth $552,000 after purchasing an additional 7,277 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of 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 worth $50,255,000 after purchasing an additional 583,809 shares during the last quarter. 25.64% of the stock is currently 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.