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

Key Points

• Smith & Nephew SNATS shares rose 2.1% on Thursday, with trading volume jumping to about 1.71 million shares, roughly 54% above the prior session.
• Analyst sentiment remains mostly cautious: the stock has one Buy and five Hold ratings, with an average Hold rating and average price target of $30.93.
• Recent institutional activity was mixed but included several additions to positions, while the company’s balance sheet metrics show a current ratio of 2.57, a quick ratio of 1.25, and debt-to-equity of 0.60.

Smith & Nephew SNATS, Inc. (NYSE:SNN - Get Free Report) saw an uptick in trading volume on Thursday . Approximately 1,714,084 shares changed hands during trading, an increase of 54% from the previous session's volume of 1,114,004 shares.The stock last traded at $31.4450 and had previously closed at $30.80.

Analyst Ratings Changes

SNN has been the topic of several analyst reports. Canaccord Genuity Group lowered their target price on shares of Smith & Nephew SNATS from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Monday, May 11th. Sanford C. Bernstein set a $31.85 price objective on Smith & Nephew SNATS in a report on Monday, May 11th. Weiss Ratings cut Smith & Nephew SNATS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 11th. The Goldman Sachs Group reissued a "buy" rating on shares of Smith & Nephew SNATS in a research note on Monday, May 25th. Finally, Wall Street Zen upgraded Smith & Nephew SNATS from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 4th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $30.93.

Smith & Nephew SNATS Trading Up 2.1%

The company has a current ratio of 2.57, a quick ratio of 1.25 and a debt-to-equity ratio of 0.60. The firm's 50-day simple moving average is $30.19 and its two-hundred day simple moving average is $32.38.

Institutional Trading of Smith & Nephew SNATS

Institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC grew its stake in Smith & Nephew SNATS by 20.0% in the 1st quarter. Parallel Advisors LLC now owns 2,322 shares of the medical equipment provider's stock valued at $74,000 after acquiring an additional 387 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in Smith & Nephew SNATS during the 1st quarter valued at $92,000. Parvin Asset Management LLC increased its position in Smith & Nephew SNATS by 8.5% during the first quarter. Parvin Asset Management LLC now owns 36,944 shares of the medical equipment provider's stock worth $1,174,000 after buying an additional 2,894 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Smith & Nephew SNATS by 33.2% during the first quarter. EverSource Wealth Advisors LLC now owns 6,427 shares of the medical equipment provider's stock valued at $204,000 after acquiring an additional 1,602 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Smith & Nephew SNATS by 6.7% during the 1st quarter. Royal Bank of Canada now owns 337,118 shares of the medical equipment provider's stock worth $10,713,000 after purchasing an additional 21,039 shares in the last quarter. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

About Smith & Nephew SNATS

Smith & Nephew plc is a global medical technology company specializing in the design, development and manufacture of advanced surgical devices, orthopaedic reconstruction implants, trauma and extremities products, sports medicine solutions and wound care therapies. Founded in 1856 in Hull, United Kingdom, the company has grown through both organic innovation and strategic acquisitions to offer a broad portfolio that addresses patient needs across joint replacement, minimally invasive surgery and wound healing.

In its orthopaedics business, Smith & Nephew provides hip and knee replacement systems, modular joint revision implants and biologic solutions for bone repair.

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