Raymond James & Associates Trims Stake in Smith & Nephew plc (NYSE:SNN)

Raymond James & Associates trimmed its holdings in Smith & Nephew plc (NYSE:SNN - Free Report) by 87.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,461 shares of the medical equipment provider's stock after selling 511,426 shares during the period. Raymond James & Associates' holdings in Smith & Nephew were worth $1,949,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its holdings in shares of Smith & Nephew by 397.3% during the 4th quarter. Bessemer Group Inc. now owns 920 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 735 shares during the period. Allworth Financial LP raised its holdings in shares of Smith & Nephew by 1,566.2% during the 3rd quarter. Allworth Financial LP now owns 1,133 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 1,065 shares during the period. Clear Street Markets LLC purchased a new stake in shares of Smith & Nephew during the 4th quarter valued at about $38,000. Tower Research Capital LLC TRC raised its holdings in shares of Smith & Nephew by 18,258.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,203 shares of the medical equipment provider's stock valued at $55,000 after buying an additional 2,191 shares during the period. Finally, Ronald Blue Trust Inc. raised its holdings in shares of Smith & Nephew by 173.9% during the 3rd quarter. Ronald Blue Trust Inc. now owns 3,235 shares of the medical equipment provider's stock valued at $80,000 after buying an additional 2,054 shares during the period. 25.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Smith & Nephew from a "buy" rating to a "strong-buy" rating in a report on Friday, March 15th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Smith & Nephew Price Performance

SNN stock traded up $0.08 during midday trading on Thursday, hitting $24.01. 1,443,351 shares of the company's stock were exchanged, compared to its average volume of 966,250. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.77 and a quick ratio of 0.72. Smith & Nephew plc has a 12-month low of $21.52 and a 12-month high of $33.08. The firm has a 50 day moving average price of $26.41 and a 200-day moving average price of $25.94.

Smith & Nephew Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, April 2nd will be issued a dividend of $0.462 per share. The ex-dividend date is Monday, April 1st. This represents a yield of 2.8%.

Smith & Nephew Profile

Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices and services in the United Kingdom and internationally. It operates through three segments: Orthopaedics, Sports Medicine & ENT, and Advanced Wound Management. The company offers knee implant products for knee replacement procedures; hip implants for revision procedures; trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures; and other reconstruction products.