Raymond James Financial Inc. Takes $4.99 Million Position 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 the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 203,087 shares of the medical equipment provider's stock, valued at approximately $4,992,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. lifted its holdings in Smith & Nephew by 87.6% in the fourth quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider's stock valued at $36,000 after acquiring an additional 691 shares during the period. R Squared Ltd purchased a new stake in Smith & Nephew during the fourth quarter worth $41,000. National Bank of Canada FI grew its position in Smith & Nephew by 36.5% during the fourth 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. Hara Capital LLC grew its position in Smith & Nephew by 391.4% during the fourth quarter. Hara Capital LLC now owns 2,457 shares of the medical equipment provider's stock valued at $60,000 after buying an additional 1,957 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Smith & Nephew by 31.8% in the fourth 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 period. 25.64% of the stock is currently owned by institutional investors and hedge funds.

Smith & Nephew Stock Performance

Shares of NYSE:SNN opened at $26.65 on Friday. 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. The firm has a market capitalization of $11.67 billion, a PE ratio of 12.34, a P/E/G ratio of 1.26 and a beta of 0.71. The business's 50 day moving average price is $27.52 and its 200-day moving average price is $26.36.

Smith & Nephew Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, March 28th will be paid 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 boost from Smith & Nephew's previous semi-annual dividend of $0.29. Smith & Nephew's payout ratio is 41.20%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. UBS Group cut Smith & Nephew from a "buy" rating to a "neutral" rating in a research report on Wednesday, March 12th. StockNews.com raised Smith & Nephew from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 26th. HSBC cut shares of Smith & Nephew from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Canaccord Genuity Group restated a "hold" rating and set a $27.00 price objective on shares of Smith & Nephew in a research report on Monday, March 17th. Five analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $27.00.

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.

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