Smith & Nephew plc (NYSE:SNN) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its holdings in shares of Smith & Nephew plc (NYSE:SNN - Free Report) by 9.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 320,091 shares of the medical equipment provider's stock after selling 31,891 shares during the period. Bank of Montreal Can owned 0.07% of Smith & Nephew worth $7,868,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Sei Investments Co. lifted its stake in shares of Smith & Nephew by 229.8% during the 4th quarter. Sei Investments Co. now owns 75,215 shares of the medical equipment provider's stock worth $1,849,000 after purchasing an additional 52,411 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Smith & Nephew by 29.3% in 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 buying an additional 6,164 shares in the last quarter. Stifel Financial Corp purchased a new position in shares of Smith & Nephew in the 3rd quarter worth approximately $1,258,000. Blue Trust Inc. raised its stake in shares of Smith & Nephew by 26.0% during the 4th quarter. Blue Trust Inc. now owns 5,871 shares of the medical equipment provider's stock worth $144,000 after acquiring an additional 1,213 shares in the last quarter. Finally, ABC Arbitrage SA purchased a new stake in Smith & Nephew during the fourth quarter valued at approximately $4,847,000. Hedge funds and other institutional investors own 25.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SNN shares. StockNews.com raised Smith & Nephew from a "buy" rating to a "strong-buy" rating in a report on Wednesday, February 26th. UBS Group cut shares of Smith & Nephew from a "buy" rating to a "neutral" rating in a research note on Wednesday, March 12th. Finally, Canaccord Genuity Group restated a "hold" rating and set a $27.00 price target on shares of Smith & Nephew in a research note on Monday, March 17th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $27.00.

Smith & Nephew Price Performance

NYSE SNN traded up $0.21 during trading hours on Friday, reaching $25.90. The company's stock had a trading volume of 691,095 shares, compared to its average volume of 838,713. The firm has a market capitalization of $11.32 billion, a price-to-earnings ratio of 11.99, a P/E/G ratio of 1.26 and a beta of 0.71. The company's 50-day moving average is $27.43 and its two-hundred day moving average is $26.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11. Smith & Nephew plc has a 1-year low of $23.69 and a 1-year high of $31.72.

Smith & Nephew Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 28th. Shareholders 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 boost from Smith & Nephew's previous semi-annual dividend of $0.29. This represents a yield of 2.5%. Smith & Nephew's dividend payout ratio is currently 41.20%.

About Smith & Nephew

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.