Smith & Nephew (NYSE:SNN) Stock Rating Lowered by HSBC

HSBC cut shares of Smith & Nephew (NYSE:SNN - Free Report) from a buy rating to a hold rating in a report published on Friday morning, MarketBeat.com reports.

Several other analysts have also issued reports on the stock. UBS Group lowered shares of Smith & Nephew from a "buy" rating to a "neutral" rating in a research report on Wednesday, March 12th. StockNews.com upgraded shares of Smith & Nephew from a "buy" rating to a "strong-buy" rating in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group reiterated a "hold" rating and issued a $27.00 price objective on shares of Smith & Nephew in a report on Monday, March 17th. Six research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $27.00.

Smith & Nephew Stock Performance

NYSE SNN traded up $1.20 on Friday, hitting $28.12. 907,693 shares of the stock were exchanged, compared to its average volume of 819,714. 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 business's fifty day moving average is $27.57 and its 200 day moving average is $26.32. Smith & Nephew has a 52 week low of $23.69 and a 52 week high of $31.72. The company has a market capitalization of $12.32 billion, a PE ratio of 13.02, a P/E/G ratio of 1.26 and a beta of 0.71.

Smith & Nephew Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, March 28th will be given a dividend of $0.447 per share. This is a positive change from Smith & Nephew's previous semi-annual dividend of $0.29. The ex-dividend date is Friday, March 28th. This represents a dividend yield of 2.5%. Smith & Nephew's dividend payout ratio (DPR) is currently 41.20%.

Institutional Trading of Smith & Nephew

Several large investors have recently made changes to their positions in the company. Callan Capital LLC acquired a new stake in shares of Smith & Nephew during the 1st quarter worth approximately $260,000. Envestnet Asset Management Inc. boosted its position in shares of Smith & Nephew by 15.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 618,691 shares of the medical equipment provider's stock worth $17,552,000 after acquiring an additional 83,341 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Smith & Nephew by 63.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,047 shares of the medical equipment provider's stock worth $30,000 after acquiring an additional 406 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Smith & Nephew during the 1st quarter worth approximately $335,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Smith & Nephew during the 1st quarter worth approximately $211,000. Institutional investors and hedge funds own 25.64% of the company's stock.

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.