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

Smith & Nephew SNATS, Inc. (NYSE:SNN) shares saw an uptick in trading volume on Tuesday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. 1,723,996 shares changed hands during 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. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Smith & Nephew SNATS in a research report on Thursday, August 6th. The Goldman Sachs Group reiterated a “buy” rating on shares of Smith & Nephew SNATS in a research note on Monday, May 25th. Bank of America cut Smith & Nephew SNATS from a “buy” rating to a “neutral” rating in a report on Tuesday. Wall Street Zen downgraded Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Saturday, September 5th. Finally, Morgan Stanley lowered Smith & Nephew SNATS from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.93.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Clearstead Trust LLC acquired a new stake in Smith & Nephew SNATS during the second quarter worth approximately $25,000. Addison Advisors LLC bought a new position in shares of Smith & Nephew SNATS during the second quarter worth approximately $43,000. Allworth Financial LP acquired a new stake in Smith & Nephew SNATS during the 2nd quarter worth approximately $48,000. Arax Advisory Partners lifted its holdings in Smith & Nephew SNATS by 142.6% during the 4th quarter. Arax Advisory Partners now owns 968 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 569 shares during the last quarter. Finally, Advisors Asset Management Inc. bought a new stake in Smith & Nephew SNATS in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 25.64% of the company’s stock.

Smith & Nephew SNATS Stock Down 0.4%

The company has a quick ratio of 1.11, a current ratio of 2.14 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average of $30.04 and a 200-day moving average of $31.25.

Smith & Nephew SNATS Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, November 6th. Stockholders 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 of this dividend is Friday, October 2nd.

Smith & Nephew SNATS Company Profile

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.