Smith & Nephew SNATS (NYSE:SNN) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Smith & Nephew SNATS (NYSE:SNN) from a buy rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. Morgan Stanley downgraded shares of Smith & Nephew SNATS from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Smith & Nephew SNATS in a research report on Thursday, August 6th. Canaccord Genuity Group dropped their price objective on shares of Smith & Nephew SNATS from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, May 11th. Sanford C. Bernstein set a $31.85 price objective on shares of Smith & Nephew SNATS in a report on Monday, May 11th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Smith & Nephew SNATS in a research note on Monday, May 25th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $30.93.

Smith & Nephew SNATS Stock Performance

Shares of Smith & Nephew SNATS stock opened at $28.91 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 2.14. Smith & Nephew SNATS has a 12 month low of $28.48 and a 12 month high of $38.79. The stock’s fifty day moving average price is $30.08 and its 200-day moving average price is $31.37.

Smith & Nephew SNATS Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 2nd will be given a $0.312 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a dividend yield of 205.0%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Clearstead Trust LLC acquired a new stake in Smith & Nephew SNATS in the second quarter valued at approximately $25,000. Arax Advisory Partners lifted its holdings in shares of Smith & Nephew SNATS by 142.6% during the 4th quarter. Arax Advisory Partners now owns 968 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 569 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Smith & Nephew SNATS during the 4th quarter valued at $36,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Smith & Nephew SNATS during the 3rd quarter valued at $41,000. Finally, Addison Advisors LLC acquired a new stake in shares of Smith & Nephew SNATS in the 2nd quarter worth $43,000. Institutional investors own 25.64% of the company’s stock.

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.