Raymond James Financial Inc. Purchases New Position in Smith & Nephew plc (NYSE:SNN)

Raymond James Financial Inc. bought a new position in Smith & Nephew plc (NYSE:SNN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 203,087 shares of the medical equipment provider's stock, valued at approximately $4,992,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Principal Securities Inc. raised its position in Smith & Nephew by 87.6% in 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 last quarter. R Squared Ltd bought a new position in Smith & Nephew during the fourth quarter valued at approximately $41,000. National Bank of Canada FI boosted its holdings 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 purchasing an additional 446 shares during the last quarter. Hara Capital LLC grew its position in Smith & Nephew by 391.4% in the 4th quarter. Hara Capital LLC now owns 2,457 shares of the medical equipment provider's stock worth $60,000 after purchasing an additional 1,957 shares during the period. Finally, GAMMA Investing LLC raised its stake in Smith & Nephew by 31.8% during the 4th quarter. GAMMA Investing LLC now owns 2,975 shares of the medical equipment provider's stock valued at $73,000 after buying an additional 718 shares during the last quarter. Institutional investors own 25.64% of the company's stock.

Smith & Nephew Stock Performance

Smith & Nephew stock traded up $0.56 during midday trading on Thursday, hitting $28.58. The stock had a trading volume of 309,341 shares, compared to its average volume of 819,271. Smith & Nephew plc has a 52-week low of $23.69 and a 52-week high of $31.72. The company has a market capitalization of $12.52 billion, a PE ratio of 13.25, a P/E/G ratio of 1.26 and a beta of 0.71. The firm's fifty day moving average is $27.60 and its two-hundred day moving average is $26.33. The company has a current ratio of 2.51, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63.

Smith & Nephew Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, March 28th will be paid a dividend of $0.447 per share. This is a boost 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 dividend yield of 2.5%. Smith & Nephew's payout ratio is 41.20%.

Wall Street Analyst Weigh In

SNN has been the topic of a number of research reports. 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. Hsbc Global Res cut shares of Smith & Nephew from a "strong-buy" rating to a "hold" rating in a research note 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. Finally, Canaccord Genuity Group reiterated a "hold" rating and set a $27.00 price target on shares of Smith & Nephew in a research note on Monday, March 17th. Six equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $27.00.

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.