Smith & Nephew SNATS, Inc. (SNN) Coverage Initiated by Analysts at Canaccord Genuity

Canaccord Genuity started coverage on shares of Smith & Nephew SNATS, Inc. (NYSE:SNN) in a report released on Wednesday. The brokerage issued a buy rating and a $42.00 price target on the medical equipment provider’s stock.

“We initiate coverage of Smith & Nephew with a BUY rating and a $42 target as we believe the broad product portfolio, spanning both orthopedics and wound care, provides a strong foundation from which the company can realize accelerating top-line growth. Further, with two major restructuring programs now complete we believe SNN is better positioned to focus on commercial execution and operating leverage.”,” Canaccord Genuity’s analyst commented.

A number of other analysts have also recently weighed in on SNN. Zacks Investment Research cut shares of Smith & Nephew SNATS from a buy rating to a hold rating in a report on Wednesday, October 4th. BidaskClub raised shares of Smith & Nephew SNATS from a hold rating to a buy rating in a report on Tuesday, August 1st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $41.50.

Shares of Smith & Nephew SNATS (NYSE:SNN) traded up 1.81% on Wednesday, reaching $38.26. 731,903 shares of the company’s stock traded hands. The company has a 50 day moving average of $36.37 and a 200-day moving average of $34.69. The stock has a market capitalization of $16.75 billion, a PE ratio of 19.48 and a beta of 0.74. Smith & Nephew SNATS has a 52 week low of $26.97 and a 52 week high of $40.43.

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The company also recently declared a semiannual dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th will be given a dividend of $0.246 per share. The ex-dividend date is Thursday, October 5th. This represents a dividend yield of 1.37%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Eqis Capital Management Inc. grew its position in Smith & Nephew SNATS by 10.9% in the 3rd quarter. Eqis Capital Management Inc. now owns 52,820 shares of the medical equipment provider’s stock valued at $1,923,000 after buying an additional 5,176 shares in the last quarter. Curbstone Financial Management Corp grew its position in Smith & Nephew SNATS by 101.9% in the 3rd quarter. Curbstone Financial Management Corp now owns 31,500 shares of the medical equipment provider’s stock valued at $1,147,000 after buying an additional 15,900 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in Smith & Nephew SNATS by 5.8% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 7,694 shares of the medical equipment provider’s stock valued at $268,000 after buying an additional 424 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Smith & Nephew SNATS by 0.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,437 shares of the medical equipment provider’s stock valued at $260,000 after buying an additional 63 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Smith & Nephew SNATS by 13.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,986,759 shares of the medical equipment provider’s stock valued at $104,089,000 after buying an additional 362,484 shares in the last quarter. Hedge funds and other institutional investors own 6.37% of the company’s stock.

Smith & Nephew SNATS Company Profile

Smith & Nephew plc is a medical technology company. The Company is engaged in developing, manufacturing, marketing and selling medical devices and services. Its products and services include Sports Medicine Joint Repair, Arthroscopic Enabling Technologies (AET), Trauma & Extremities, Other Surgical Businesses, Knee Implants, Hip Implants, Advanced Wound Care, Advanced Wound Bioactives and Advanced Wound Devices.

Analyst Recommendations for Smith & Nephew SNATS (NYSE:SNN)

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