SummitTX Capital L.P. Buys New Shares in Smith & Nephew SNATS, Inc. $SNN

SummitTX Capital L.P. purchased a new stake in shares of Smith & Nephew SNATS, Inc. (NYSE:SNN) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 22,837 shares of the medical equipment provider’s stock, valued at approximately $726,000.

Several other hedge funds have also recently added to or reduced their stakes in SNN. Garner Asset Management Corp bought a new position in shares of Smith & Nephew SNATS during the 4th quarter valued at about $27,000. Arax Advisory Partners lifted 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 worth $32,000 after buying an additional 569 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in Smith & Nephew SNATS in the fourth quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd purchased a new stake in Smith & Nephew SNATS in the third quarter worth approximately $41,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Smith & Nephew SNATS during the fourth quarter valued at approximately $43,000. Institutional investors own 25.64% of the company’s stock.

Smith & Nephew SNATS Stock Down 1.0%

Smith & Nephew SNATS stock opened at $32.35 on Friday. Smith & Nephew SNATS, Inc. has a 1-year low of $28.56 and a 1-year high of $38.79. The company has a current ratio of 2.57, a quick ratio of 1.25 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average of $30.39 and a 200-day moving average of $32.21.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SNN shares. Wall Street Zen upgraded shares of Smith & Nephew SNATS from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. Sanford C. Bernstein set a $31.85 target price on shares of Smith & Nephew SNATS in a report on Monday, May 11th. Weiss Ratings cut shares of Smith & Nephew SNATS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Kepler Capital Markets lowered shares of Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Thursday, June 4th. Finally, Canaccord Genuity Group reduced their price objective on Smith & Nephew SNATS from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.93.

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.