Smith & Nephew SNATS (NYSE:SNN) Cut to “Neutral” at Bank of America

Bank of America downgraded shares of Smith & Nephew SNATS (NYSE:SNN) from a buy rating to a neutral rating in a report issued on Tuesday morning, MarketBeat.com reports.

A number of other research firms also recently weighed in on SNN. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Smith & Nephew SNATS in a research report on Thursday, August 6th. Morgan Stanley cut Smith & Nephew SNATS from an “overweight” rating to an “equal weight” rating in a report on Wednesday, September 2nd. Weiss Ratings upgraded Smith & Nephew SNATS from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, September 4th. Kepler Capital Markets lowered Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a report on Thursday, June 4th. Finally, Wall Street Zen cut Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Saturday, September 5th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Smith & Nephew SNATS currently has an average rating of “Hold” and a consensus target price of $30.93.

Smith & Nephew SNATS Stock Performance

NYSE:SNN opened at $27.57 on Tuesday. The firm’s 50-day moving average is $29.99 and its 200-day moving average is $31.19. Smith & Nephew SNATS has a 52-week low of $27.56 and a 52-week high of $38.59. 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 firm also recently disclosed a dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.312 per share. This represents a dividend yield of 205.0%. The ex-dividend date of this dividend is Friday, October 2nd.

Institutional Trading of Smith & Nephew SNATS

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Smith & Nephew SNATS in the second quarter worth about $505,323,000. River Road Asset Management LLC boosted its holdings in Smith & Nephew SNATS by 13.8% during the fourth quarter. River Road Asset Management LLC now owns 3,169,644 shares of the medical equipment provider’s stock valued at $103,996,000 after purchasing an additional 384,926 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Smith & Nephew SNATS by 5.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,053,726 shares of the medical equipment provider’s stock valued at $67,383,000 after purchasing an additional 100,697 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Smith & Nephew SNATS in the 2nd quarter valued at approximately $97,223,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Smith & Nephew SNATS in the 2nd quarter valued at approximately $89,325,000. Institutional investors own 25.64% of the company’s stock.

Smith & Nephew SNATS Company Profile

Smith & Nephew plc is a global medical technology company headquartered in the United Kingdom. Founded in 1856 by Thomas James Smith in Hull, the company initially operated as a pharmacy business before expanding into healthcare products and medical devices.

The company develops and manufactures technologies used in orthopaedic reconstruction, sports medicine, and advanced wound management. Its products include joint replacement systems, trauma and extremities devices, arthroscopic equipment, surgical repair technologies, wound dressings, negative-pressure wound therapy systems, and other products designed to support tissue healing and surgical care.

Smith & Nephew serves hospitals, healthcare professionals, and patients in markets around the world.