Raymond James Financial Inc. Acquires New Stake in Smith & Nephew plc (NYSE:SNN)

Raymond James Financial Inc. bought a new position in shares of Smith & Nephew plc (NYSE:SNN) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 203,087 shares of the medical equipment provider’s stock, valued at approximately $4,992,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 DIFC Ltd bought a new position in shares of Smith & Nephew during the third quarter worth about $7,200,000. ABC Arbitrage SA acquired a new stake in Smith & Nephew during the 4th quarter valued at approximately $4,847,000. Clark Estates Inc. NY increased its position in Smith & Nephew by 16.8% during the 4th quarter. Clark Estates Inc. NY now owns 800,000 shares of the medical equipment provider’s stock valued at $19,664,000 after purchasing an additional 115,000 shares during the period. Maverick Capital Ltd. bought a new position in Smith & Nephew during the 3rd quarter worth approximately $2,086,000. Finally, Stifel Financial Corp acquired a new position in shares of Smith & Nephew in the 3rd quarter worth approximately $1,258,000. 25.64% of the stock is owned by institutional investors and hedge funds.

Smith & Nephew Price Performance

Smith & Nephew stock opened at $28.44 on Wednesday. The stock’s 50 day moving average price is $26.94 and its two-hundred day moving average price is $27.00. The stock has a market capitalization of $12.43 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.26 and a beta of 0.83. 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 52-week low of $23.65 and a 52-week high of $31.72.

Smith & Nephew Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, March 28th will be paid a dividend of $0.447 per share. The ex-dividend date is Friday, March 28th. This is a positive change from Smith & Nephew’s previous semi-annual dividend of $0.29. This represents a yield of 2.5%. Smith & Nephew’s dividend payout ratio is currently 41.20%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SNN. Canaccord Genuity Group reiterated 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 cut shares of Smith & Nephew from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 12th. Finally, StockNews.com raised Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $27.00.

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.