Raymond James Financial Inc. Acquires New Shares in Smith & Nephew plc (NYSE:SNN)

Raymond James Financial Inc. bought a new position in shares of Smith & Nephew plc (NYSE:SNN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 203,087 shares of the medical equipment provider's stock, valued at approximately $4,992,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake 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 purchasing an additional 6,164 shares during the period. Stifel Financial Corp bought a new position in shares of Smith & Nephew in the third quarter valued at $1,258,000. Maverick Capital Ltd. acquired a new position in shares of Smith & Nephew during the third quarter valued at about $2,086,000. Blue Trust Inc. increased its position in shares of Smith & Nephew by 26.0% during the fourth 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, GAMMA Investing LLC raised 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. Institutional investors own 25.64% of the company's stock.

Smith & Nephew Stock Performance

Shares of Smith & Nephew stock traded down $0.39 during trading hours on Friday, hitting $28.03. 775,052 shares of the company's stock traded hands, compared to its average volume of 815,770. The company has a fifty day simple moving average of $27.13 and a 200-day simple moving average of $26.96. 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 has a market capitalization of $12.25 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.26 and a beta of 0.83. Smith & Nephew plc has a 12-month low of $23.65 and a 12-month high of $31.72.

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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. This is an increase from Smith & Nephew's previous semi-annual dividend of $0.29. This represents a dividend yield of 2.5%. The ex-dividend date is Friday, March 28th. Smith & Nephew's dividend payout ratio is currently 41.20%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SNN. StockNews.com raised Smith & Nephew from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 26th. UBS Group downgraded shares of Smith & Nephew from a "buy" rating to a "neutral" rating in a research report on Wednesday, March 12th. Finally, Canaccord Genuity Group reiterated a "hold" rating and issued a $27.00 price objective 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $27.00.

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.