Smith & Nephew SNATS (NYSE:SNN) Shares Gap Up – Should You Buy?

Smith & Nephew SNATS, Inc. (NYSE:SNN) gapped up before the market opened on Tuesday . The stock had previously closed at $28.76, but opened at $29.63. Smith & Nephew SNATS shares last traded at $29.3050, with a volume of 298,126 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SNN. 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 reiterated a “buy” rating on shares of Smith & Nephew SNATS in a report on Monday, May 25th. Zacks Research downgraded shares of Smith & Nephew SNATS from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Wall Street Zen raised shares of Smith & Nephew SNATS from a “hold” rating to a “buy” rating in a research report on Monday, August 24th. Finally, Barclays lowered shares of Smith & Nephew SNATS from an “equal weight” rating to an “underweight” rating in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.93.

Smith & Nephew SNATS Stock Up 1.2%

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 company has a 50-day moving average price of $30.21 and a 200 day moving average price of $31.61.

Smith & Nephew SNATS Announces Dividend

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

Hedge Funds Weigh In On Smith & Nephew SNATS

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Smith & Nephew SNATS in the second quarter worth approximately $505,323,000. River Road Asset Management LLC grew its position in Smith & Nephew SNATS by 13.8% during the fourth quarter. River Road Asset Management LLC now owns 3,169,644 shares of the medical equipment provider’s stock valued at $103,996,000 after purchasing an additional 384,926 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Smith & Nephew SNATS by 5.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,053,726 shares of the medical equipment provider’s stock valued at $67,383,000 after buying an additional 100,697 shares during the period. Bank of America Corp DE acquired a new position in Smith & Nephew SNATS in the 2nd quarter valued at approximately $97,223,000. Finally, Bank of New York Mellon Corp purchased a new stake in Smith & Nephew SNATS in the 2nd quarter worth approximately $89,325,000. Institutional investors and hedge funds 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.