Smith & Nephew SNATS (NYSE:SNN) Shares Gap Up – Here’s Why

Shares of Smith & Nephew SNATS, Inc. (NYSE:SNN) gapped up before the market opened on Tuesday . The stock had previously closed at $28.76, but opened at $29.63. Smith & Nephew SNATS shares last traded at $29.3050, with a volume of 298,126 shares trading hands.

Analysts Set New Price Targets

Several research firms recently commented on SNN. BTIG Research began coverage on shares of Smith & Nephew SNATS in a report on Monday. They set a “neutral” rating for the company. Wall Street Zen raised Smith & Nephew SNATS from a “hold” rating to a “buy” rating in a research note on Monday, August 24th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Smith & Nephew SNATS in a research report on Thursday, August 6th. Zacks Research downgraded shares of Smith & Nephew SNATS from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Finally, Canaccord Genuity Group cut their price target on Smith & Nephew SNATS from $32.00 to $30.00 and set a “hold” rating for the company in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Smith & Nephew SNATS currently has a consensus rating of “Reduce” and a consensus target price of $30.93.

Smith & Nephew SNATS Trading Down 1.0%

The company’s 50 day simple moving average is $30.17 and its two-hundred day simple moving average is $31.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 2.14.

Smith & Nephew SNATS Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SNN. Corient Private Wealth LP raised its holdings in Smith & Nephew SNATS by 3.7% during the 2nd quarter. Corient Private Wealth LP now owns 26,018 shares of the medical equipment provider’s stock worth $750,000 after purchasing an additional 932 shares during the last quarter. Plan A Wealth LLC lifted its holdings in shares of Smith & Nephew SNATS by 16.5% during the 2nd quarter. Plan A Wealth LLC now owns 8,607 shares of the medical equipment provider’s stock valued at $248,000 after purchasing an additional 1,221 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in Smith & Nephew SNATS in the second quarter valued at approximately $313,000. Rakuten Investment Management Inc. acquired a new position in Smith & Nephew SNATS in the 2nd quarter worth $732,000. Finally, Empowered Funds LLC bought a new position in shares of Smith & Nephew SNATS during the second quarter worth about $824,000. 25.64% of the stock is currently owned by 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.