Ritholtz Wealth Management lowered its stake in Smith & Nephew plc (NYSE:SNN) by 46.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,241 shares of the medical equipment provider’s stock after selling 5,333 shares during the quarter. Ritholtz Wealth Management’s holdings in Smith & Nephew were worth $244,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC grew its stake in shares of Smith & Nephew by 640.8% in the first quarter. FMR LLC now owns 1,341,034 shares of the medical equipment provider’s stock valued at $53,788,000 after acquiring an additional 1,160,015 shares in the last quarter. Deutsche Bank AG grew its position in Smith & Nephew by 1,579.1% in the 1st quarter. Deutsche Bank AG now owns 23,104 shares of the medical equipment provider’s stock valued at $829,000 after purchasing an additional 21,728 shares during the period. Morgan Stanley lifted its stake in Smith & Nephew by 111.4% during the 1st quarter. Morgan Stanley now owns 237,551 shares of the medical equipment provider’s stock valued at $8,520,000 after acquiring an additional 125,182 shares in the last quarter. Advisor Group Holdings Inc. bought a new position in Smith & Nephew during the 1st quarter valued at $2,443,000. Finally, HighTower Advisors LLC raised its stake in shares of Smith & Nephew by 42.1% during the 1st quarter. HighTower Advisors LLC now owns 52,889 shares of the medical equipment provider’s stock worth $1,893,000 after purchasing an additional 15,670 shares during the period. 9.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Smith & Nephew stock traded down $0.56 during midday trading on Monday, reaching $37.92. 6,349 shares of the company’s stock traded hands, compared to its average volume of 610,644. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.04 and a current ratio of 2.18. The company has a market cap of $16.85 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 5.62 and a beta of 0.56. The stock has a 50 day moving average of $39.31 and a 200-day moving average of $39.96. Smith & Nephew plc has a 12 month low of $26.07 and a 12 month high of $52.26.
The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 28th. Investors of record on Friday, October 2nd will be issued a dividend of $0.278 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a dividend yield of 1.8%. Smith & Nephew’s dividend payout ratio is presently 27.45%.
A number of brokerages recently issued reports on SNN. Bank of America upgraded Smith & Nephew from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 29th. Berenberg Bank reissued a “buy” rating on shares of Smith & Nephew in a report on Friday, July 31st. Morgan Stanley reissued an “overweight” rating on shares of Smith & Nephew in a report on Thursday, July 30th. BofA Securities upgraded Smith & Nephew from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Smith & Nephew in a research report on Thursday, July 30th. Three analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Smith & Nephew currently has a consensus rating of “Hold” and an average price target of $48.00.
About Smith & Nephew
Smith & Nephew plc develops, manufactures, and sells medical devices worldwide. The company offers knee implant products for specialized knee replacement procedures; hip implants for the reconstruction of hip joints; and trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures.
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