Summit Global Investments Invests $433,000 in Smith & Nephew plc (NYSE:SNN)

Summit Global Investments purchased a new position in shares of Smith & Nephew plc (NYSE:SNN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,628 shares of the medical equipment provider's stock, valued at approximately $433,000.

Other institutional investors have also recently made changes to their positions in the company. River Road Asset Management LLC lifted its position in shares of Smith & Nephew by 64.0% during the fourth quarter. River Road Asset Management LLC now owns 2,032,016 shares of the medical equipment provider's stock valued at $49,947,000 after buying an additional 792,829 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Smith & Nephew during the third quarter valued at approximately $7,200,000. Raymond James Financial Inc. acquired a new stake in Smith & Nephew in the fourth quarter valued at approximately $4,992,000. ABC Arbitrage SA purchased a new position in Smith & Nephew in the fourth quarter worth $4,847,000. Finally, Brandes Investment Partners LP increased its position in shares of Smith & Nephew by 11.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,363,039 shares of the medical equipment provider's stock worth $33,504,000 after purchasing an additional 138,994 shares in the last quarter. Hedge funds and other institutional investors own 25.64% of the company's stock.

Analyst Upgrades and Downgrades

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

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Smith & Nephew Stock Performance

Shares of SNN traded down $0.39 during mid-day trading on Friday, hitting $28.03. 775,052 shares of the company's stock were exchanged, compared to its average volume of 815,770. The company has a current ratio of 2.51, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. Smith & Nephew plc has a fifty-two week low of $23.65 and a fifty-two week high of $31.72. The business's 50 day moving average is $27.07 and its two-hundred day moving average is $27.02. The firm has a market capitalization of $12.25 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.26 and a beta of 0.83.

Smith & Nephew Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, March 28th will be given a $0.447 dividend. This represents a yield of 2.5%. This is a positive change from Smith & Nephew's previous semi-annual dividend of $0.29. The ex-dividend date is Friday, March 28th. Smith & Nephew's dividend payout ratio (DPR) is 41.20%.

Smith & Nephew 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.