Point72 Asset Management L.P. acquired a new stake in Smith & Nephew plc (NYSE:SNN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 249,488 shares of the medical equipment provider's stock, valued at approximately $6,132,000. Point72 Asset Management L.P. owned about 0.06% of Smith & Nephew as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Principal Securities Inc. lifted its position in shares of Smith & Nephew by 87.6% in the fourth quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider's stock valued at $36,000 after buying an additional 691 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Smith & Nephew in the fourth quarter valued at approximately $41,000. National Bank of Canada FI lifted its position in shares of 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 valued at $41,000 after buying an additional 446 shares during the last quarter. Hara Capital LLC lifted its position in shares of Smith & Nephew by 391.4% in the fourth quarter. Hara Capital LLC now owns 2,457 shares of the medical equipment provider's stock valued at $60,000 after buying an additional 1,957 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Smith & Nephew by 26.0% in the fourth quarter. Blue Trust Inc. now owns 5,871 shares of the medical equipment provider's stock valued at $144,000 after buying an additional 1,213 shares during the last quarter. 25.64% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have recently issued reports on SNN. Wall Street Zen raised Smith & Nephew from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, February 26th. Hsbc Global Res cut Smith & Nephew from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Canaccord Genuity Group lifted their target price on Smith & Nephew from $27.00 to $28.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. UBS Group cut shares of Smith & Nephew from a "buy" rating to a "neutral" rating in a research report on Wednesday, March 12th. Finally, HSBC cut shares of Smith & Nephew from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Six research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $28.00.
Check Out Our Latest Research Report on Smith & Nephew
Smith & Nephew Price Performance
NYSE SNN traded up $0.25 during midday trading on Friday, hitting $28.65. The company had a trading volume of 948,581 shares, compared to its average volume of 798,440. The company has a market capitalization of $12.55 billion, a PE ratio of 13.26, a P/E/G ratio of 1.26 and a beta of 0.68. The company has a current ratio of 2.51, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $27.43 and a 200-day moving average price of $26.40. Smith & Nephew plc has a twelve month low of $23.69 and a twelve month high of $31.72.
Smith & Nephew Increases Dividend
The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, March 28th will be issued a $0.447 dividend. The ex-dividend date is Friday, March 28th. This is a boost from Smith & Nephew's previous semi-annual dividend of $0.29. This represents a yield of 2.5%. Smith & Nephew's payout ratio is currently 41.20%.
About Smith & Nephew
(
Free Report)
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.
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