Smith & Nephew SNATS (NYSE:SNN) Sets New 52-Week Low – Here’s What Happened

Shares of Smith & Nephew SNATS, Inc. (NYSE:SNN) hit a new 52-week low during trading on Tuesday . The company traded as low as $28.93 and last traded at $28.8560, with a volume of 346336 shares. The stock had previously closed at $30.28.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wall Street Zen cut shares of Smith & Nephew SNATS from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Canaccord Genuity Group lowered their price objective on Smith & Nephew SNATS from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, May 11th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Smith & Nephew SNATS in a research report on Monday, May 25th. Weiss Ratings downgraded shares of Smith & Nephew SNATS from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Finally, Kepler Capital Markets lowered shares of Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Smith & Nephew SNATS has a consensus rating of “Hold” and an average price target of $30.93.

Smith & Nephew SNATS Trading Down 5.4%

The company has a fifty day moving average of $30.62 and a 200 day moving average of $32.60. The company has a current ratio of 2.57, a quick ratio of 1.25 and a debt-to-equity ratio of 0.60.

Smith & Nephew SNATS (NYSE:SNN) last posted its quarterly earnings data on Tuesday, February 17th. The medical equipment provider reported $29.55 EPS for the quarter. The firm had revenue of $1.60 billion during the quarter. As a group, analysts anticipate that Smith & Nephew SNATS, Inc. will post 2.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its position in Smith & Nephew SNATS by 16.7% in the first quarter. Royal Bank of Canada now owns 340,428 shares of the medical equipment provider’s stock worth $9,657,000 after acquiring an additional 48,784 shares in the last quarter. Goldman Sachs Group Inc. boosted its position 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 valued at $50,255,000 after purchasing an additional 583,809 shares during the period. Focus Partners Wealth increased 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. Cetera Investment Advisers increased its stake in Smith & Nephew SNATS by 5.9% in the 2nd quarter. Cetera Investment Advisers now owns 17,731 shares of the medical equipment provider’s stock worth $543,000 after purchasing an additional 983 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Smith & Nephew SNATS by 219.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,261 shares of the medical equipment provider’s stock worth $161,000 after buying an additional 3,613 shares during the period. 25.64% of the stock is owned by institutional investors and hedge funds.

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.