Zacks Investment Research upgraded shares of Smith & Nephew SNATS, Inc. (NYSE:SNN) from a hold rating to a buy rating in a research report sent to investors on Wednesday, October 18th. The brokerage currently has $43.00 price objective on the medical equipment provider’s stock.
According to Zacks, “Smith & Nephew is a global medical device company. The company markets clinically superior products, principally in orthopaedics, endoscopy and wound management to deliver cost-effective solutions, significant physician advantage and real patient benefits. A continuous process of supplying new and innovative products is supported by substantial R&D investment to deliver new levels of healing to patients throughout the world “
A number of other analysts have also weighed in on the stock. BidaskClub upgraded shares of Smith & Nephew SNATS from a buy rating to a strong-buy rating in a research note on Friday, June 23rd. Canaccord Genuity began coverage on Smith & Nephew SNATS in a report on Wednesday, October 11th. They issued a buy rating and a $42.00 price objective for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Smith & Nephew SNATS presently has an average rating of Buy and an average target price of $42.50.
Smith & Nephew SNATS (NYSE:SNN) traded up $0.03 during midday trading on Wednesday, reaching $37.43. 508,438 shares of the company’s stock were exchanged, compared to its average volume of 966,597. Smith & Nephew SNATS has a 52 week low of $26.97 and a 52 week high of $40.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current ratio of 2.18.
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The company also recently declared a semiannual dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th were given a $0.246 dividend. This represents a dividend yield of 1.37%. The ex-dividend date of this dividend was Thursday, October 5th.
Several institutional investors have recently made changes to their positions in SNN. Bank of New York Mellon Corp lifted its holdings in Smith & Nephew SNATS by 3.9% during the first quarter. Bank of New York Mellon Corp now owns 66,199 shares of the medical equipment provider’s stock worth $2,048,000 after acquiring an additional 2,509 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Smith & Nephew SNATS by 24.2% during the first quarter. Ameriprise Financial Inc. now owns 38,651 shares of the medical equipment provider’s stock worth $1,210,000 after acquiring an additional 7,521 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Smith & Nephew SNATS by 38.4% during the first quarter. JPMorgan Chase & Co. now owns 219,040 shares of the medical equipment provider’s stock worth $6,775,000 after acquiring an additional 60,722 shares in the last quarter. United Services Automobile Association lifted its holdings in Smith & Nephew SNATS by 10.3% during the first quarter. United Services Automobile Association now owns 18,366 shares of the medical equipment provider’s stock worth $568,000 after acquiring an additional 1,714 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in Smith & Nephew SNATS by 83.9% during the first quarter. Morgan Stanley now owns 122,149 shares of the medical equipment provider’s stock worth $3,777,000 after acquiring an additional 55,720 shares in the last quarter. 6.45% of the stock is owned by institutional investors and hedge funds.
Smith & Nephew SNATS Company Profile
Smith & Nephew plc is a medical technology company. The Company is engaged in developing, manufacturing, marketing and selling medical devices and services. Its products and services include Sports Medicine Joint Repair, Arthroscopic Enabling Technologies (AET), Trauma & Extremities, Other Surgical Businesses, Knee Implants, Hip Implants, Advanced Wound Care, Advanced Wound Bioactives and Advanced Wound Devices.
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