Balyasny Asset Management L.P. Decreases Stock Position in Smith & Nephew plc (NYSE:SNN)

Balyasny Asset Management L.P. lowered its holdings in Smith & Nephew plc (NYSE:SNN - Free Report) by 56.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,320 shares of the medical equipment provider's stock after selling 96,285 shares during the period. Balyasny Asset Management L.P.'s holdings in Smith & Nephew were worth $1,851,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Principal Securities Inc. lifted its stake in Smith & Nephew by 87.6% in the fourth quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider's stock worth $36,000 after acquiring an additional 691 shares during the last quarter. R Squared Ltd purchased a new position in Smith & Nephew in the fourth quarter worth approximately $41,000. National Bank of Canada FI lifted its stake in Smith & Nephew by 36.5% in the fourth quarter. National Bank of Canada FI now owns 1,667 shares of the medical equipment provider's stock worth $41,000 after acquiring an additional 446 shares during the last quarter. Hara Capital LLC lifted its stake in Smith & Nephew by 391.4% in the fourth quarter. Hara Capital LLC now owns 2,457 shares of the medical equipment provider's stock worth $60,000 after acquiring an additional 1,957 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Smith & Nephew by 26.0% in the fourth quarter. Blue Trust Inc. now owns 5,871 shares of the medical equipment provider's stock worth $144,000 after acquiring an additional 1,213 shares during the last quarter. Institutional investors and hedge funds own 25.64% of the company's stock.

Smith & Nephew Trading Up 0.3%

Shares of SNN traded up $0.08 on Friday, hitting $28.83. 397,991 shares of the stock traded hands, compared to its average volume of 804,593. The company has a quick ratio of 1.11, a current ratio of 2.51 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $12.63 billion, a P/E ratio of 13.35, a P/E/G ratio of 1.26 and a beta of 0.68. The stock's 50 day moving average is $27.42 and its two-hundred day moving average is $26.27. Smith & Nephew plc has a 1 year low of $23.69 and a 1 year high of $31.72.

Smith & Nephew Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, March 28th will be given a dividend of $0.447 per share. This is a positive change from Smith & Nephew's previous semi-annual dividend of $0.29. The ex-dividend date of this dividend is Friday, March 28th. This represents a yield of 2.5%. Smith & Nephew's dividend payout ratio is 41.20%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SNN. Hsbc Global Res downgraded shares of Smith & Nephew from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. StockNews.com upgraded shares of Smith & Nephew from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, February 26th. Canaccord Genuity Group lifted their target price on shares of Smith & Nephew from $27.00 to $28.00 and gave the company a "hold" rating in a report on Thursday, May 1st. HSBC cut shares of Smith & Nephew from a "buy" rating to a "hold" rating in a report on Friday, April 25th. Finally, UBS Group cut shares of Smith & Nephew from a "buy" rating to a "neutral" rating in a report on Wednesday, March 12th. Six investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Smith & Nephew currently has an average rating of "Hold" and an average target price of $28.00.

Smith & Nephew Company 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.