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

Smith & Nephew SNATS, Inc. (NYSE:SNN) shares gapped down prior to trading on Thursday . The stock had previously closed at $36.76, but opened at $31.87. Smith & Nephew SNATS shares last traded at $32.3350, with a volume of 483,810 shares.

Analysts Set New Price Targets

SNN has been the subject of several research analyst reports. Wall Street Zen lowered shares of Smith & Nephew SNATS from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 3rd. Royal Bank Of Canada reissued an “outperform” rating on shares of Smith & Nephew SNATS in a research note on Monday, October 20th. Sanford C. Bernstein set a $37.50 target price on shares of Smith & Nephew SNATS and gave the company a “market perform” rating in a report on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Smith & Nephew SNATS in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group raised their target price on shares of Smith & Nephew SNATS from $28.00 to $36.00 and gave the company a “hold” rating in a report on Monday, August 18th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $36.75.

Smith & Nephew SNATS Stock Performance

The company has a current ratio of 3.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60. The business’s fifty day simple moving average is $36.64 and its two-hundred day simple moving average is $32.74.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SNN. Bank of Montreal Can grew its stake in shares of Smith & Nephew SNATS by 321.6% in the 2nd quarter. Bank of Montreal Can now owns 3,429,829 shares of the medical equipment provider’s stock valued at $105,056,000 after purchasing an additional 2,616,301 shares during the last quarter. Yousif Capital Management LLC acquired a new position in Smith & Nephew SNATS in the 2nd quarter valued at $217,000. Allspring Global Investments Holdings LLC purchased a new position in Smith & Nephew SNATS during the 1st quarter worth $335,000. Scharf Investments LLC lifted its stake in shares of Smith & Nephew SNATS by 0.3% in the 2nd quarter. Scharf Investments LLC now owns 2,083,513 shares of the medical equipment provider’s stock worth $63,818,000 after acquiring an additional 6,993 shares during the period. Finally, Ballentine Partners LLC acquired a new stake in shares of Smith & Nephew SNATS in the 2nd quarter worth $263,000. 25.64% of the stock is owned by hedge funds and other institutional investors.

About Smith & Nephew SNATS

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.