Envestnet Asset Management Inc. Purchases 57,014 Shares of Smith & Nephew plc (NYSE:SNN)

Envestnet Asset Management Inc. boosted its stake in shares of Smith & Nephew plc (NYSE:SNN - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 535,350 shares of the medical equipment provider's stock after acquiring an additional 57,014 shares during the period. Envestnet Asset Management Inc. owned 0.12% of Smith & Nephew worth $13,159,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNN. PNC Financial Services Group Inc. increased its position in shares of Smith & Nephew by 4.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,120 shares of the medical equipment provider's stock worth $224,000 after purchasing an additional 399 shares during the period. National Bank of Canada FI increased its holdings in Smith & Nephew by 36.5% in the 4th quarter. National Bank of Canada FI now owns 1,667 shares of the medical equipment provider's stock valued at $41,000 after buying an additional 446 shares during the period. Bleakley Financial Group LLC increased its holdings in Smith & Nephew by 3.5% in the 4th quarter. Bleakley Financial Group LLC now owns 17,704 shares of the medical equipment provider's stock valued at $435,000 after buying an additional 596 shares during the period. Signaturefd LLC raised its position in shares of Smith & Nephew by 4.3% in the 4th quarter. Signaturefd LLC now owns 15,772 shares of the medical equipment provider's stock valued at $388,000 after buying an additional 653 shares in the last quarter. Finally, Principal Securities Inc. lifted its holdings in shares of Smith & Nephew by 87.6% during the 4th quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider's stock worth $36,000 after acquiring an additional 691 shares during the period. 25.64% of the stock is owned by institutional investors and hedge funds.

Smith & Nephew Price Performance

SNN stock traded up $0.50 during trading on Tuesday, reaching $26.20. 639,155 shares of the company were exchanged, compared to its average volume of 831,511. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 1.26 and a beta of 0.71. 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 company has a 50-day moving average of $27.46 and a two-hundred day moving average of $26.38. Smith & Nephew plc has a twelve month low of $23.69 and a twelve month high of $31.72.

Smith & Nephew Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.447 per share. The ex-dividend date is Friday, March 28th. This is an increase 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 is 41.20%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SNN. UBS Group cut shares of Smith & Nephew from a "buy" rating to a "neutral" rating in a research note on Wednesday, March 12th. Canaccord Genuity Group reiterated a "hold" rating and issued a $27.00 price target on shares of Smith & Nephew in a research note on Monday, March 17th. Finally, StockNews.com upgraded Smith & Nephew from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Smith & Nephew has an average rating of "Hold" and an average 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.