181,710 Shares in Smith & Nephew plc (NYSE:SNN) Purchased by abrdn plc

abrdn plc bought a new stake in Smith & Nephew plc (NYSE:SNN - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 181,710 shares of the medical equipment provider's stock, valued at approximately $4,957,000.

A number of other hedge funds have also modified their holdings of SNN. Ridgewood Investments LLC raised its position in shares of Smith & Nephew by 33.5% in the third quarter. Ridgewood Investments LLC now owns 49,106 shares of the medical equipment provider's stock valued at $1,216,000 after buying an additional 12,316 shares during the last quarter. SVB Wealth LLC increased its position in Smith & Nephew by 8.4% during the third quarter. SVB Wealth LLC now owns 12,487 shares of the medical equipment provider's stock worth $309,000 after purchasing an additional 970 shares during the last quarter. Intellectus Partners LLC increased its position in Smith & Nephew by 15.1% during the third quarter. Intellectus Partners LLC now owns 10,761 shares of the medical equipment provider's stock worth $267,000 after purchasing an additional 1,413 shares during the last quarter. Park Avenue Securities LLC increased its position in Smith & Nephew by 14.3% during the third quarter. Park Avenue Securities LLC now owns 26,271 shares of the medical equipment provider's stock worth $651,000 after purchasing an additional 3,294 shares during the last quarter. Finally, Inspire Advisors LLC increased its position in Smith & Nephew by 7.4% during the third quarter. Inspire Advisors LLC now owns 13,286 shares of the medical equipment provider's stock worth $329,000 after purchasing an additional 919 shares during the last quarter. 25.64% of the stock is currently owned by institutional investors and hedge funds.

Smith & Nephew Price Performance

Smith & Nephew stock traded up $0.57 during midday trading on Friday, hitting $24.45. 1,759,851 shares of the stock were exchanged, compared to its average volume of 922,038. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.77 and a quick ratio of 0.72. The stock's 50-day simple moving average is $25.99 and its 200 day simple moving average is $26.00. Smith & Nephew plc has a fifty-two week low of $21.52 and a fifty-two week high of $33.08.

Smith & Nephew Announces Dividend

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

Analysts Set New Price Targets

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

About Smith & Nephew

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.