Northern Trust Corp Raises Position in Smith & Nephew plc (NYSE:SNN)

Northern Trust Corp lifted its holdings in shares of Smith & Nephew plc (NYSE:SNN - Free Report) by 169.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 508,392 shares of the medical equipment provider's stock after purchasing an additional 320,054 shares during the period. Northern Trust Corp owned 0.12% of Smith & Nephew worth $12,496,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its position in shares of Smith & Nephew by 4.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,120 shares of the medical equipment provider's stock valued at $224,000 after purchasing an additional 399 shares in the last quarter. National Bank of Canada FI raised its stake in Smith & Nephew by 36.5% during the 4th quarter. National Bank of Canada FI now owns 1,667 shares of the medical equipment provider's stock worth $41,000 after buying an additional 446 shares during the period. Bleakley Financial Group LLC raised its stake in Smith & Nephew by 3.5% during the 4th quarter. Bleakley Financial Group LLC now owns 17,704 shares of the medical equipment provider's stock worth $435,000 after buying an additional 596 shares during the period. Signaturefd LLC raised its stake in Smith & Nephew by 4.3% during the 4th quarter. Signaturefd LLC now owns 15,772 shares of the medical equipment provider's stock worth $388,000 after buying an additional 653 shares during the period. Finally, Principal Securities Inc. raised its stake in Smith & Nephew by 87.6% during the 4th quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider's stock worth $36,000 after buying an additional 691 shares during the period. Institutional investors own 25.64% of the company's stock.

Smith & Nephew Price Performance

NYSE:SNN traded down $0.36 during trading hours on Thursday, hitting $28.36. The stock had a trading volume of 659,581 shares, compared to its average volume of 800,001. Smith & Nephew plc has a one year low of $23.69 and a one year high of $31.72. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11. The firm has a market capitalization of $12.42 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 1.26 and a beta of 0.68. The company has a 50 day simple moving average of $27.44 and a two-hundred day simple moving average of $26.35.

Smith & Nephew Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.447 per share. This is an increase from Smith & Nephew's previous semi-annual dividend of $0.29. This represents a dividend yield of 2.5%. The ex-dividend date is Friday, March 28th. Smith & Nephew's payout ratio is currently 41.20%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SNN shares. UBS Group downgraded Smith & Nephew from a "buy" rating to a "neutral" rating in a research note on Wednesday, March 12th. HSBC downgraded Smith & Nephew from a "buy" rating to a "hold" rating in a research note on Friday, April 25th. Wall Street Zen raised Smith & Nephew from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 26th. Hsbc Global Res downgraded Smith & Nephew from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, Canaccord Genuity Group upped their price target on Smith & Nephew from $27.00 to $28.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Smith & Nephew presently has an average rating of "Hold" and an average target price of $28.00.

Smith & Nephew 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.