Smith & Nephew SNATS (NYSE:SNN) Sees Large Volume Increase - Here's What Happened

Smith & Nephew SNATS, Inc. (NYSE:SNN - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 1,805,283 shares traded hands during mid-day 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.

Analysts Set New Price Targets

SNN has been the subject of several research analyst reports. Hsbc Global Res cut shares of Smith & Nephew SNATS from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. HSBC downgraded shares of Smith & Nephew SNATS from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Canaccord Genuity Group upped their price target on shares of Smith & Nephew SNATS from $27.00 to $28.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Finally, UBS Group downgraded shares of Smith & Nephew SNATS from a "buy" rating to a "neutral" rating in a research report on Wednesday, March 12th. Six equities research 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, Smith & Nephew SNATS has an average rating of "Hold" and a consensus price target of $28.00.

Smith & Nephew SNATS Price Performance

The company has a market cap of $13.46 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 0.92 and a beta of 0.69. The company has a current ratio of 2.89, a quick ratio of 1.33 and a debt-to-equity ratio of 0.62. The company's 50 day moving average price is $29.19 and its 200 day moving average price is $27.35.

Institutional Trading of Smith & Nephew SNATS

Several hedge funds have recently made changes to their positions in the company. River Road Asset Management LLC lifted its stake in shares of Smith & Nephew SNATS by 64.0% in the 4th quarter. River Road Asset Management LLC now owns 2,032,016 shares of the medical equipment provider's stock worth $49,947,000 after acquiring an additional 792,829 shares during the period. J. Goldman & Co LP acquired a new stake in shares of Smith & Nephew SNATS in the 4th quarter worth $47,700,000. Goldman Sachs Group Inc. lifted its stake in shares of Smith & Nephew SNATS by 49.2% in 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 acquiring an additional 583,809 shares during the period. Armistice Capital LLC lifted its stake in shares of 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 worth $50,187,000 after acquiring an additional 1,275,000 shares during the period. Finally, Brandes Investment Partners LP increased its holdings in shares of Smith & Nephew SNATS by 11.4% in the 4th quarter. Brandes Investment Partners LP now owns 1,363,039 shares of the medical equipment provider's stock valued at $33,504,000 after purchasing an additional 138,994 shares in the last quarter. Institutional investors and hedge funds own 25.64% of the company's stock.

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.

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