Oppenheimer Asset Management Inc. lifted its holdings in Smith & Nephew plc (NYSE:SNN - Free Report) by 126.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 38,913 shares of the medical equipment provider's stock after purchasing an additional 21,695 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Smith & Nephew were worth $956,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Smith & Nephew during the 3rd quarter valued at approximately $792,000. Charles Schwab Investment Management Inc. increased its stake in 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 in the last quarter. Stifel Financial Corp acquired a new position in Smith & Nephew during the 3rd quarter valued at approximately $1,258,000. Maverick Capital Ltd. acquired a new position in Smith & Nephew during the 3rd quarter valued at approximately $2,086,000. Finally, Blue Trust Inc. increased its stake in Smith & Nephew by 26.0% during the 4th quarter. Blue Trust Inc. now owns 5,871 shares of the medical equipment provider's stock valued at $144,000 after purchasing an additional 1,213 shares in the last quarter. Hedge funds and other institutional investors own 25.64% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on SNN. StockNews.com upgraded shares of Smith & Nephew from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 26th. Canaccord Genuity Group reiterated a "hold" rating and issued a $27.00 price objective on shares of Smith & Nephew in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $27.00.
Read Our Latest Research Report on Smith & Nephew
Smith & Nephew Stock Performance
SNN stock traded up $0.35 during midday trading on Friday, hitting $29.87. 627,390 shares of the stock traded hands, compared to its average volume of 788,116. The firm has a market cap of $13.06 billion, a P/E ratio of 13.83, a PEG ratio of 1.26 and a beta of 0.83. 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 stock's fifty day simple moving average is $25.89 and its 200-day simple moving average is $27.23. Smith & Nephew plc has a 1-year low of $23.65 and a 1-year high of $31.72.
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 represents a yield of 2.5%. 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. Smith & Nephew's dividend payout ratio (DPR) is currently 41.20%.
Smith & Nephew Profile
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Free Report)
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.
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