Wells Fargo & Company MN Lowers Stock Position in Smith & Nephew plc (NYSE:SNN)

Wells Fargo & Company MN reduced its stake in Smith & Nephew plc (NYSE:SNN - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 470,908 shares of the medical equipment provider's stock after selling 15,020 shares during the quarter. Wells Fargo & Company MN owned approximately 0.11% of Smith & Nephew worth $11,575,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Securities Inc. increased its stake in Smith & Nephew by 87.6% during the fourth quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider's stock worth $36,000 after purchasing an additional 691 shares during the period. R Squared Ltd acquired a new position in shares of Smith & Nephew in the fourth quarter worth $41,000. National Bank of Canada FI increased its position in shares of 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 worth $41,000 after acquiring an additional 446 shares during the period. Hara Capital LLC raised 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 acquiring an additional 1,957 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Smith & Nephew by 31.8% during the 4th quarter. GAMMA Investing LLC now owns 2,975 shares of the medical equipment provider's stock worth $73,000 after purchasing an additional 718 shares in the last quarter. 25.64% of the stock is owned by institutional investors and hedge funds.

Smith & Nephew Stock Up 0.8 %

SNN stock traded up $0.21 during midday trading on Friday, reaching $25.90. 691,095 shares of the company were exchanged, compared to its average volume of 838,713. The company has a market cap of $11.32 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 1.26 and a beta of 0.71. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 2.51. Smith & Nephew plc has a 1-year low of $23.69 and a 1-year high of $31.72. The stock's 50-day simple moving average is $27.43 and its 200 day simple moving average is $26.50.

Smith & Nephew Increases Dividend

The business also recently declared 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. 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. This represents a yield of 2.5%. Smith & Nephew's payout ratio is 41.20%.

Analysts Set New Price Targets

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