Smith & Nephew plc (NYSE:SNN - Get Free Report) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 1,150,000 shares, a decline of 28.1% from the February 28th total of 1,600,000 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 819,500 shares, the short-interest ratio is presently 1.4 days.
Institutional Investors Weigh In On Smith & Nephew
Several large investors have recently made changes to their positions in the business. 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 valued at $36,000 after acquiring an additional 691 shares in the last quarter. R Squared Ltd acquired a new position in shares of Smith & Nephew during the fourth quarter worth about $41,000. National Bank of Canada FI boosted its position in shares of Smith & Nephew by 36.5% in the fourth quarter. National Bank of Canada FI now owns 1,667 shares of the medical equipment provider's stock worth $41,000 after buying an additional 446 shares during the period. Hara Capital LLC grew its stake in shares of Smith & Nephew by 391.4% in 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 in the last quarter. Finally, GAMMA Investing LLC grew its stake 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 valued at $73,000 after buying an additional 718 shares in the last quarter. Institutional investors and hedge funds own 25.64% of the company's stock.
Smith & Nephew Trading Down 0.8 %
Shares of NYSE SNN traded down $0.24 during midday trading on Thursday, hitting $27.90. The stock had a trading volume of 1,605,457 shares, compared to its average volume of 788,678. 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 has a 1-year low of $23.65 and a 1-year high of $31.72. The company has a market capitalization of $12.20 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 1.26 and a beta of 0.83. The company has a fifty day moving average price of $27.30 and a 200 day moving average price of $26.89.
Smith & Nephew Increases Dividend
The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, March 28th will be given a dividend of $0.447 per share. This represents a yield of 2.5%. This is a boost from Smith & Nephew's previous semi-annual dividend of $0.29. The ex-dividend date of this dividend is Friday, March 28th. Smith & Nephew's payout ratio is 41.20%.
Wall Street Analyst Weigh In
SNN has been the subject of a number of recent research reports. Canaccord Genuity Group reaffirmed a "hold" rating and set a $27.00 price objective on shares of Smith & Nephew in a research report on Monday, March 17th. UBS Group downgraded shares of Smith & Nephew from a "buy" rating to a "neutral" rating in a report on Wednesday, March 12th. Finally, StockNews.com upgraded Smith & Nephew from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Smith & Nephew has a consensus rating of "Hold" and a consensus target price of $27.00.
Check Out Our Latest Research Report on SNN
About Smith & Nephew
(
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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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