Smith & Nephew (NYSE:SNN) Downgraded by HSBC to Hold

HSBC downgraded shares of Smith & Nephew (NYSE:SNN - Free Report) from a buy rating to a hold rating in a report published on Friday morning, Marketbeat reports.

A number of other brokerages have also weighed in on SNN. Canaccord Genuity Group reaffirmed a "hold" rating and set a $27.00 target price on shares of Smith & Nephew in a research report on Monday, March 17th. UBS Group lowered Smith & Nephew from a "buy" rating to a "neutral" rating in a research note on Wednesday, March 12th. Finally, StockNews.com upgraded Smith & Nephew from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $27.00.

Smith & Nephew Price Performance

NYSE SNN traded down $0.35 on Friday, reaching $26.65. The company had a trading volume of 928,869 shares, compared to its average volume of 823,199. The firm's 50 day moving average price is $27.52 and its 200 day moving average price is $26.32. Smith & Nephew has a 12 month low of $23.69 and a 12 month high of $31.72. The stock has a market capitalization of $11.67 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 1.26 and a beta of 0.71. The company has a quick ratio of 1.11, a current ratio of 2.51 and a debt-to-equity ratio of 0.63.

Smith & Nephew Increases Dividend

The company 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 $0.447 dividend. 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 currently 41.20%.

Institutional Investors Weigh In On Smith & Nephew

Several hedge funds and other institutional investors have recently made changes to their positions in SNN. Sei Investments Co. lifted its holdings in shares of Smith & Nephew by 229.8% in the 4th quarter. Sei Investments Co. now owns 75,215 shares of the medical equipment provider's stock valued at $1,849,000 after purchasing an additional 52,411 shares during the last quarter. Townsquare Capital LLC lifted its holdings in Smith & Nephew by 19.0% in the fourth quarter. Townsquare Capital LLC now owns 17,557 shares of the medical equipment provider's stock valued at $432,000 after acquiring an additional 2,798 shares during the period. Blue Trust Inc. boosted its holdings in 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 buying an additional 1,213 shares in the last quarter. ABC Arbitrage SA acquired a new position in Smith & Nephew during the fourth quarter worth about $4,847,000. Finally, GAMMA Investing LLC lifted its position in shares of Smith & Nephew by 31.8% during the 4th quarter. GAMMA Investing LLC now owns 2,975 shares of the medical equipment provider's stock valued at $73,000 after acquiring an additional 718 shares during the period. Institutional investors and hedge funds own 25.64% of the company's stock.

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.