Zacks Investment Research lowered shares of Smith & Nephew SNATS, Inc. (NYSE:SNN) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
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 “
Several other research firms have also recently commented on SNN. BidaskClub raised Smith & Nephew SNATS from a hold rating to a buy rating in a research note on Tuesday, August 1st. Canaccord Genuity initiated coverage on Smith & Nephew SNATS in a research note on Wednesday, October 11th. They issued a buy rating and a $42.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Smith & Nephew SNATS presently has an average rating of Hold and an average price target of $42.50.
Smith & Nephew SNATS (NYSE SNN) traded down $0.44 during midday trading on Wednesday, hitting $35.96. The stock had a trading volume of 2,076,900 shares, compared to its average volume of 617,258. Smith & Nephew SNATS has a one year low of $26.97 and a one year high of $40.43. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 0.38.
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The business also recently disclosed a semiannual dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, October 6th were paid a dividend of $0.246 per share. The ex-dividend date was Thursday, October 5th. This represents a dividend yield of 1.37%.
Several institutional investors have recently made changes to their positions in the stock. Bahl & Gaynor Inc. grew its stake in shares of Smith & Nephew SNATS by 0.3% during the second quarter. Bahl & Gaynor Inc. now owns 21,440 shares of the medical equipment provider’s stock worth $645,000 after purchasing an additional 60 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Smith & Nephew SNATS by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 7,437 shares of the medical equipment provider’s stock worth $260,000 after purchasing an additional 63 shares during the period. Wrapmanager Inc. grew its stake in shares of Smith & Nephew SNATS by 2.1% during the second quarter. Wrapmanager Inc. now owns 10,178 shares of the medical equipment provider’s stock worth $355,000 after purchasing an additional 207 shares during the period. Wetherby Asset Management Inc. grew its stake in shares of Smith & Nephew SNATS by 2.6% during the second quarter. Wetherby Asset Management Inc. now owns 16,415 shares of the medical equipment provider’s stock worth $572,000 after purchasing an additional 415 shares during the period. Finally, Dynamic Technology Lab Private Ltd grew its stake in shares of Smith & Nephew SNATS by 5.8% during the second quarter. Dynamic Technology Lab Private Ltd now owns 7,694 shares of the medical equipment provider’s stock worth $268,000 after purchasing an additional 424 shares during the period. 6.45% of the stock is owned by institutional investors and hedge funds.
About Smith & Nephew SNATS
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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