Creative Planning boosted its position in shares of Smith & Nephew plc (NYSE:SNN – Free Report) by 49.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,831 shares of the medical equipment provider’s stock after acquiring an additional 5,552 shares during the period. Creative Planning’s holdings in Smith & Nephew were worth $543,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SNN. Arrowstreet Capital Limited Partnership lifted its position in Smith & Nephew by 691.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 803,232 shares of the medical equipment provider’s stock valued at $25,623,000 after acquiring an additional 701,806 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Smith & Nephew by 519.9% during the first quarter. Envestnet Asset Management Inc. now owns 826,910 shares of the medical equipment provider’s stock valued at $4,505,000 after acquiring an additional 693,516 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Smith & Nephew by 2,242.5% during the 1st quarter. JPMorgan Chase & Co. now owns 658,642 shares of the medical equipment provider’s stock valued at $18,382,000 after purchasing an additional 630,525 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Smith & Nephew during the 1st quarter valued at approximately $13,071,000. Finally, Foresight Global Investors Inc. acquired a new position in Smith & Nephew during the 1st quarter valued at approximately $9,480,000. Hedge funds and other institutional investors own 8.65% of the company’s stock.
Wall Street Analyst Weigh In
SNN has been the topic of a number of recent analyst reports. Stifel Nicolaus initiated coverage on shares of Smith & Nephew in a research note on Friday, October 13th. They set a “hold” rating on the stock. UBS Group upgraded shares of Smith & Nephew from a “sell” rating to a “neutral” rating in a research note on Tuesday, August 8th. Finally, StockNews.com lowered shares of Smith & Nephew from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $1,240.00.
Smith & Nephew Stock Performance
NYSE:SNN opened at $22.55 on Thursday. Smith & Nephew plc has a 1-year low of $22.53 and a 1-year high of $33.08. The company’s fifty day moving average price is $25.71 and its 200-day moving average price is $28.95. The company has a current ratio of 2.19, a quick ratio of 0.83 and a debt-to-equity ratio of 0.50.
Smith & Nephew Announces Dividend
The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th will be paid a $0.462 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a dividend yield of 2.6%.
Smith & Nephew Company Profile
Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices and services in the United Kingdom and internationally. The company operates through three segments: Orthopaedics, Sports Medicine & ENT, and Advanced Wound Management. The company offers knee implant products for knee replacement procedures; hip implants for revision procedures; 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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