Hsbc Holdings PLC Invests $14.59 Million in Smith & Nephew SNATS, Inc. $SNN

Hsbc Holdings PLC purchased a new stake in Smith & Nephew SNATS, Inc. (NYSE:SNN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 232,926 shares of the medical equipment provider’s stock, valued at approximately $14,592,000.

Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada grew its position in Smith & Nephew SNATS by 16.7% during the 1st quarter. Royal Bank of Canada now owns 340,428 shares of the medical equipment provider’s stock worth $9,657,000 after acquiring an additional 48,784 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Smith & Nephew SNATS by 49.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,771,401 shares of the medical equipment provider’s stock valued at $50,255,000 after purchasing an additional 583,809 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Smith & Nephew SNATS by 59.8% during the first quarter. Focus Partners Wealth now owns 19,438 shares of the medical equipment provider’s stock valued at $552,000 after purchasing an additional 7,277 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Smith & Nephew SNATS by 5.9% during the second quarter. Cetera Investment Advisers now owns 17,731 shares of the medical equipment provider’s stock valued at $543,000 after purchasing an additional 983 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Smith & Nephew SNATS by 219.2% during the second quarter. EverSource Wealth Advisors LLC now owns 5,261 shares of the medical equipment provider’s stock worth $161,000 after purchasing an additional 3,613 shares during the last quarter. Institutional investors and hedge funds own 25.64% of the company’s stock.

Smith & Nephew SNATS Price Performance

SNN opened at $29.14 on Friday. Smith & Nephew SNATS, Inc. has a 1 year low of $28.56 and a 1 year high of $38.79. The company has a quick ratio of 1.11, a current ratio of 2.14 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average price is $30.24 and its two-hundred day moving average price is $31.70.

Smith & Nephew SNATS Dividend Announcement

The company also recently declared a dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 2nd will be issued a dividend of $0.312 per share. The ex-dividend date is Friday, October 2nd. This represents a yield of 205.0%.

Analyst Upgrades and Downgrades

SNN has been the topic of several research reports. Wall Street Zen upgraded shares of Smith & Nephew SNATS from a “hold” rating to a “buy” rating in a report on Monday. Kepler Capital Markets lowered Smith & Nephew SNATS from a “buy” rating to a “hold” rating in a research report on Thursday, June 4th. Sanford C. Bernstein set a $31.85 price target on Smith & Nephew SNATS 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 report on Monday, May 25th. Finally, Canaccord Genuity Group cut their target price on Smith & Nephew SNATS from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Smith & Nephew SNATS presently has an average rating of “Hold” and a consensus price target of $30.93.

Smith & Nephew SNATS 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.