Smith & Nephew SNATS (NYSE:SNN) Shares Gap Down – Here’s What Happened

Smith & Nephew SNATS, Inc. (NYSE:SNN)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $30.19, but opened at $29.24. Smith & Nephew SNATS shares last traded at $29.7250, with a volume of 439,684 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SNN. Zacks Research downgraded Smith & Nephew SNATS from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Smith & Nephew SNATS in a report on Thursday, August 6th. Canaccord Genuity Group lowered their price target on Smith & Nephew SNATS from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, May 11th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Smith & Nephew SNATS in a research note on Monday, May 25th. Finally, Wall Street Zen downgraded shares of Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.93.

Smith & Nephew SNATS Trading Down 0.9%

The company has a current ratio of 2.14, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average price of $30.35 and a two-hundred day moving average price of $31.89.

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 paid a $0.312 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a yield of 205.0%.

Institutional Investors Weigh In On Smith & Nephew SNATS

Several large investors have recently made changes to their positions in the stock. Clearstead Trust LLC acquired a new stake in shares of Smith & Nephew SNATS during the second quarter worth $25,000. Garner Asset Management Corp acquired a new position in Smith & Nephew SNATS in the 4th quarter worth $27,000. Arax Advisory Partners increased 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 in the last quarter. Advisors Asset Management Inc. bought a new position in Smith & Nephew SNATS during the 4th quarter worth about $36,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Smith & Nephew SNATS in the 3rd quarter valued at about $41,000. Institutional investors own 25.64% of the company’s stock.

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.