Smith & Nephew SNATS (NYSE:SNN) Shares Gap Down - Should You Sell?

Key Points

• Smith & Nephew SNATS shares gapped down, opening at $29.24 versus a prior close of $30.19, and last traded near $29.73.
• Analyst sentiment is broadly neutral: the stock has a consensus “Hold” rating from MarketBeat, with two Buys, six Holds and two Sells, and an average price target of $30.93.
• The company declared a $0.312 dividend payable November 6 to shareholders of record October 2, while institutional investors own approximately 25.64% of outstanding shares.

Smith & Nephew SNATS, Inc. (NYSE:SNN - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $30.19, but opened at $29.24. Smith & Nephew SNATS shares last traded at $29.7250, with a volume of 439,684 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SNN. Canaccord Genuity Group lowered their price objective on Smith & Nephew SNATS from $32.00 to $30.00 and set a "hold" rating on the stock in a research report on Monday, May 11th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Smith & Nephew SNATS in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of Smith & Nephew SNATS from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, June 11th. Barclays lowered shares of Smith & Nephew SNATS from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, August 5th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Smith & Nephew SNATS in a research note on Monday, May 25th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $30.93.

Smith & Nephew SNATS Stock Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 2.14. The stock has a 50 day simple moving average of $30.41 and a 200 day simple moving average of $31.96.

Smith & Nephew SNATS Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 2nd will be paid a $0.312 dividend. This represents a yield of 205.0%. The ex-dividend date of this dividend is Friday, October 2nd.

Institutional Investors Weigh In On Smith & Nephew SNATS

Several institutional investors and hedge funds have recently bought and sold shares of SNN. Grandfield & Dodd LLC bought a new stake in shares of Smith & Nephew SNATS during the 2nd quarter worth $13,192,000. Teachers Retirement System of The State of Kentucky raised its stake in Smith & Nephew SNATS by 31.8% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 599,500 shares of the medical equipment provider's stock worth $19,670,000 after acquiring an additional 144,800 shares in the last quarter. Todd Asset Management LLC raised its stake in Smith & Nephew SNATS by 30.2% during the fourth quarter. Todd Asset Management LLC now owns 944,578 shares of the medical equipment provider's stock worth $30,992,000 after acquiring an additional 219,348 shares in the last quarter. Quantinno Capital Management LP increased its position in Smith & Nephew SNATS by 46.3% during the 1st quarter. Quantinno Capital Management LP now owns 278,224 shares of the medical equipment provider's stock worth $8,842,000 after purchasing an additional 88,068 shares in the last quarter. Finally, QRG Capital Management Inc. increased its holdings in shares of Smith & Nephew SNATS by 29.4% during the first quarter. QRG Capital Management Inc. now owns 80,311 shares of the medical equipment provider's stock worth $2,552,000 after buying an additional 18,251 shares in the last quarter. Institutional investors own 25.64% of the company's stock.

Smith & Nephew SNATS Company Profile

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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