Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in Smith & Nephew SNATS, Inc. $SNN

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Smith & Nephew SNATS, Inc. (NYSE:SNN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 220,220 shares of the medical equipment provider’s stock, valued at approximately $13,812,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clearstead Trust LLC bought a new stake in Smith & Nephew SNATS in the 2nd quarter valued at about $25,000. Garner Asset Management Corp bought a new position in Smith & Nephew SNATS in the fourth quarter worth approximately $27,000. Arax Advisory Partners boosted its holdings in Smith & Nephew SNATS by 142.6% in the fourth quarter. Arax Advisory Partners now owns 968 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 569 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in Smith & Nephew SNATS in the fourth quarter valued at approximately $36,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Smith & Nephew SNATS during the third quarter valued at approximately $41,000. 25.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. restated a “neutral” rating on shares of Smith & Nephew SNATS in a report on Thursday, August 6th. Zacks Research cut shares of Smith & Nephew SNATS from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Wall Street Zen cut shares of Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Barclays downgraded Smith & Nephew SNATS from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings downgraded Smith & Nephew SNATS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Smith & Nephew SNATS has an average rating of “Hold” and an average price target of $30.93.

Smith & Nephew SNATS Stock Down 0.9%

Shares of NYSE SNN opened at $29.06 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.14 and a quick ratio of 1.11. The stock has a fifty day simple moving average of $30.35 and a two-hundred day simple moving average of $31.89. Smith & Nephew SNATS, Inc. has a 1-year low of $28.56 and a 1-year high of $38.79.

Smith & Nephew SNATS Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 2nd will be issued a $0.312 dividend. This represents a dividend 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 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.