Smith & Nephew SNATS (NYSE:SNN) Sees Large Volume Increase Following Analyst Upgrade

Shares of Smith & Nephew SNATS, Inc. (NYSE:SNN – Get Free Report) saw an uptick in trading volume on Tuesday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. Approximately 1,723,996 shares were traded during mid-day trading, an increase of 38% from the previous session’s volume of 1,248,832 shares.The stock last traded at $27.8150 and had previously closed at $28.87.

SNN has been the subject of a number of other research reports. Barclays downgraded shares of Smith & Nephew SNATS from an “equal weight” rating to an “underweight” rating in a report on Wednesday, August 5th. Kepler Capital Markets lowered Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research note on Thursday, June 4th. Wall Street Zen downgraded Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Saturday, September 5th. Weiss Ratings raised shares of Smith & Nephew SNATS from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, September 4th. Finally, Bank of America lowered Smith & Nephew SNATS from a “buy” rating to a “neutral” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.93.

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Institutional Trading of Smith & Nephew SNATS

Hedge funds and other institutional investors have recently made changes to their positions in the company. Clearstead Trust LLC bought a new position in Smith & Nephew SNATS in the 2nd quarter valued at approximately $25,000. Arax Advisory Partners increased its position in Smith & Nephew SNATS by 142.6% in the 4th quarter. Arax Advisory Partners now owns 968 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 569 shares during the period. Advisors Asset Management Inc. acquired a new position in Smith & Nephew SNATS in the 4th quarter valued at approximately $36,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Smith & Nephew SNATS during the third quarter valued at $41,000. Finally, Addison Advisors LLC bought a new position in shares of Smith & Nephew SNATS during the second quarter valued at $43,000. 25.64% of the stock is currently owned by institutional investors.

Smith & Nephew SNATS Trading Down 0.4%

The business’s fifty day moving average price is $30.04 and its 200 day moving average price is $31.25. 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. Shareholders of record on Friday, October 2nd will be given a $0.312 dividend. This represents a dividend yield of 205.0%. The ex-dividend date is Friday, October 2nd.

Smith & Nephew SNATS Company Profile

(Get Free Report)

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.

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