Smith & Nephew plc (NYSE:SNN) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of Smith & Nephew plc (NYSE:SNN) by 22.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 33,305 shares of the medical equipment provider’s stock after purchasing an additional 6,106 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Smith & Nephew were worth $819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Lorne Steinberg Wealth Management Inc. lifted its position in shares of Smith & Nephew by 0.9% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 233,155 shares of the medical equipment provider’s stock worth $5,731,000 after buying an additional 2,160 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Smith & Nephew during the third quarter worth about $7,200,000. ABC Arbitrage SA bought a new position in Smith & Nephew in the fourth quarter worth about $4,847,000. State Street Corp boosted its stake in Smith & Nephew by 1.3% in the third quarter. State Street Corp now owns 143,846 shares of the medical equipment provider’s stock valued at $4,479,000 after acquiring an additional 1,889 shares during the period. Finally, Citigroup Inc. raised its position in shares of Smith & Nephew by 18.5% during the 3rd quarter. Citigroup Inc. now owns 119,215 shares of the medical equipment provider’s stock worth $3,712,000 after purchasing an additional 18,630 shares during the period. Institutional investors and hedge funds own 25.64% of the company’s stock.

Smith & Nephew Stock Performance

SNN opened at $28.03 on Monday. The business has a 50 day moving average price of $27.13 and a two-hundred day moving average price of $26.93. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11. The company has a market capitalization of $12.25 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 1.26 and a beta of 0.83. Smith & Nephew plc has a 1-year low of $23.65 and a 1-year 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. Stockholders of record on Friday, March 28th will be given a dividend of $0.447 per share. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Smith & Nephew’s previous semi-annual dividend of $0.29. This represents a dividend yield of 2.5%. Smith & Nephew’s payout ratio is 41.20%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. UBS Group downgraded shares of Smith & Nephew from a “buy” rating to a “neutral” rating in a report on Wednesday, March 12th. Canaccord Genuity Group reissued a “hold” rating and set a $27.00 target price on shares of Smith & Nephew in a research note on Monday, March 17th. Finally, StockNews.com upgraded shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 26th. Four 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, Smith & Nephew currently has an average rating of “Hold” and a consensus target price of $27.00.

About Smith & Nephew

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.