Equity Investment Corp Sells 1,687 Shares of Smith & Nephew SNATS, Inc. (NYSE:SNN)

Equity Investment Corp trimmed its stake in shares of Smith & Nephew SNATS, Inc. (NYSE:SNN) by 15.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,067 shares of the medical equipment provider’s stock after selling 1,687 shares during the quarter. Equity Investment Corp’s holdings in Smith & Nephew SNATS were worth $257,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bleakley Financial Group LLC increased its position in Smith & Nephew SNATS by 5.4% during the 1st quarter. Bleakley Financial Group LLC now owns 18,653 shares of the medical equipment provider’s stock worth $529,000 after purchasing an additional 949 shares in the last quarter. New York State Common Retirement Fund increased its position in Smith & Nephew SNATS by 19.5% during the 1st quarter. New York State Common Retirement Fund now owns 291,148 shares of the medical equipment provider’s stock worth $8,260,000 after purchasing an additional 47,567 shares in the last quarter. Cerity Partners LLC increased its position in Smith & Nephew SNATS by 207.3% during the 1st quarter. Cerity Partners LLC now owns 31,020 shares of the medical equipment provider’s stock worth $880,000 after purchasing an additional 20,926 shares in the last quarter. Callan Capital LLC acquired a new position in Smith & Nephew SNATS in the 1st quarter valued at approximately $260,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of Smith & Nephew SNATS by 15.6% during the first quarter. Envestnet Asset Management Inc. now owns 618,691 shares of the medical equipment provider’s stock valued at $17,552,000 after acquiring an additional 83,341 shares during the last quarter. 25.64% of the stock is currently owned by institutional investors and hedge funds.

Smith & Nephew SNATS Trading Down 2.3%

SNN opened at $29.35 on Wednesday. Smith & Nephew SNATS, Inc. has a twelve month low of $23.69 and a twelve month high of $31.72. The company has a quick ratio of 1.33, a current ratio of 2.89 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average of $29.38 and a 200-day moving average of $27.55. The stock has a market cap of $12.85 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 0.92 and a beta of 0.69.

Wall Street Analysts Forecast Growth

SNN has been the subject of several analyst reports. HSBC downgraded shares of Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research note on Friday, April 25th. Canaccord Genuity Group raised their price target on shares of Smith & Nephew SNATS from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Finally, Hsbc Global Res downgraded shares of Smith & Nephew SNATS from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 25th. Six investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $28.00.

Smith & Nephew SNATS Profile

Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT.