Ashton Thomas Securities LLC Sells 31,139 Shares of Smith & Nephew plc (NYSE:SNN)

Ashton Thomas Securities LLC reduced its stake in shares of Smith & Nephew plc (NYSE:SNN - Free Report) by 44.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,710 shares of the medical equipment provider's stock after selling 31,139 shares during the quarter. Ashton Thomas Securities LLC's holdings in Smith & Nephew were worth $951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in shares of Smith & Nephew by 29.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,199 shares of the medical equipment provider's stock valued at $847,000 after purchasing an additional 6,164 shares during the last quarter. Stifel Financial Corp purchased a new position in Smith & Nephew during the third quarter worth $1,258,000. Maverick Capital Ltd. bought a new position in Smith & Nephew during the third quarter valued at $2,086,000. Blue Trust Inc. raised its stake in shares of Smith & Nephew by 26.0% in the fourth quarter. Blue Trust Inc. now owns 5,871 shares of the medical equipment provider's stock valued at $144,000 after acquiring an additional 1,213 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Smith & Nephew by 31.8% in the 4th quarter. GAMMA Investing LLC now owns 2,975 shares of the medical equipment provider's stock worth $73,000 after acquiring an additional 718 shares during the last quarter. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

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Smith & Nephew Trading Down 1.4 %

SNN stock traded down $0.39 during trading on Friday, hitting $28.03. The company had a trading volume of 775,052 shares, compared to its average volume of 815,770. Smith & Nephew plc has a 52-week low of $23.65 and a 52-week high of $31.72. The company has a 50 day simple moving average of $27.13 and a 200-day simple moving average of $26.96. The firm has a market capitalization of $12.25 billion, a P/E ratio of 12.97, a PEG ratio of 1.26 and a beta of 0.83. The company has a quick ratio of 1.11, a current ratio of 2.51 and a debt-to-equity ratio of 0.63.

Smith & Nephew Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently commented on SNN. Canaccord Genuity Group reiterated a "hold" rating and set a $27.00 price target on shares of Smith & Nephew in a report on Monday, March 17th. StockNews.com raised Smith & Nephew from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 26th. Finally, UBS Group lowered Smith & Nephew from a "buy" rating to a "neutral" rating in a research note on Wednesday, March 12th. Four investment 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.com, Smith & Nephew has a consensus rating of "Hold" and a consensus target price of $27.00.

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.