Smith & Nephew SNATS (NYSE:SNN) Sets New 1-Year High - Here's What Happened

Key Points

• Smith & Nephew SNATS recently reached a new 52-week high of $35.88 during mid-day trading, closing at $34.88.
• Brokerages are cautious, with HSBC downgrading the stock from a "strong-buy" to a "hold" rating, contributing to a consensus rating of "Hold" and an average target price of $28.00.
• Institutional investors have increased their stakes significantly, with notable increases of up to 500% in some cases during the first quarter.

Shares of Smith & Nephew SNATS, Inc. (NYSE:SNN - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $35.88 and last traded at $34.88, with a volume of 453734 shares. The stock had previously closed at $30.79.

Wall Street Analyst Weigh In

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

Smith & Nephew SNATS Trading Down 0.2%

The company has a market capitalization of $15.77 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.08 and a beta of 0.68. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.00 and a quick ratio of 1.33. The company's fifty day moving average is $30.43 and its 200-day moving average is $28.37.

Smith & Nephew SNATS Cuts Dividend

The company also recently announced 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. The ex-dividend date is Friday, October 3rd. This represents a yield of 210.0%. Smith & Nephew SNATS's payout ratio is currently 41.20%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. 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 worth $30,000 after buying an additional 406 shares during the period. Richards Merrill & Peterson Inc. grew its stake in Smith & Nephew SNATS by 500.0% during the 1st quarter. Richards Merrill & Peterson Inc. now owns 1,200 shares of the medical equipment provider's stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Smith & Nephew SNATS by 36.5% in the fourth quarter. National Bank of Canada FI now owns 1,667 shares of the medical equipment provider's stock valued at $41,000 after purchasing an additional 446 shares during the period. Bessemer Group Inc. raised its stake in shares of Smith & Nephew SNATS by 3,471.4% in the first quarter. Bessemer Group Inc. now owns 1,750 shares of the medical equipment provider's stock worth $49,000 after purchasing an additional 1,701 shares during the last quarter. Finally, Banque Transatlantique SA acquired a new stake in shares of Smith & Nephew SNATS during the first quarter worth about $52,000. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

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.