Smith & Nephew SNATS (NYSE:SNN) Hits New 12-Month Low on Analyst Downgrade

Shares of Smith & Nephew SNATS, Inc. (NYSE:SNN) hit a new 52-week low during mid-day trading on Wednesday after Bank of America downgraded the stock from a buy rating to a neutral rating. The stock traded as low as $27.57 and last traded at $27.8350, with a volume of 3636722 shares trading hands. The stock had previously closed at $28.87.

Several other research firms have also issued reports on SNN. Canaccord Genuity Group dropped their price target on shares of 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. Kepler Capital Markets downgraded shares of Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research note on Thursday, June 4th. Weiss Ratings upgraded Smith & Nephew SNATS from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, September 4th. The Goldman Sachs Group reissued a “buy” rating on shares of Smith & Nephew SNATS in a research report on Monday, May 25th. Finally, Morgan Stanley lowered Smith & Nephew SNATS from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Smith & Nephew SNATS currently has an average rating of “Hold” and an average target price of $30.93.

Institutional Trading of Smith & Nephew SNATS

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Smith & Nephew SNATS in the 2nd quarter valued at about $505,323,000. River Road Asset Management LLC lifted its position in Smith & Nephew SNATS by 13.8% during the fourth quarter. River Road Asset Management LLC now owns 3,169,644 shares of the medical equipment provider’s stock worth $103,996,000 after acquiring an additional 384,926 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Smith & Nephew SNATS by 5.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,053,726 shares of the medical equipment provider’s stock worth $67,383,000 after acquiring an additional 100,697 shares during the last quarter. Bank of America Corp DE acquired a new stake in Smith & Nephew SNATS during the second quarter worth approximately $97,223,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Smith & Nephew SNATS during the second quarter worth approximately $89,325,000. Institutional investors and hedge funds own 25.64% of the company’s stock.

Smith & Nephew SNATS Price Performance

The business has a fifty day moving average price of $29.99 and a 200-day moving average price of $31.19. The company has a current ratio of 2.14, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

Smith & Nephew SNATS Announces Dividend

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

About Smith & Nephew SNATS

Smith & Nephew plc is a global medical technology company headquartered in the United Kingdom. Founded in 1856 by Thomas James Smith in Hull, the company initially operated as a pharmacy business before expanding into healthcare products and medical devices.

The company develops and manufactures technologies used in orthopaedic reconstruction, sports medicine, and advanced wound management. Its products include joint replacement systems, trauma and extremities devices, arthroscopic equipment, surgical repair technologies, wound dressings, negative-pressure wound therapy systems, and other products designed to support tissue healing and surgical care.

Smith & Nephew serves hospitals, healthcare professionals, and patients in markets around the world.