Smith & Nephew (NYSE:SNN) Earns Hold Rating from Canaccord Genuity Group

Canaccord Genuity Group reissued their hold rating on shares of Smith & Nephew (NYSE:SNN) in a report issued on Monday,Benzinga reports. They currently have a $27.00 price objective on the medical equipment provider’s stock.

A number of other analysts have also weighed in on SNN. StockNews.com raised shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 26th. UBS Group lowered Smith & Nephew from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $27.00.

Smith & Nephew Trading Up 1.5 %

SNN opened at $28.99 on Monday. Smith & Nephew has a 1-year low of $23.65 and a 1-year high of $31.72. The stock has a market capitalization of $12.68 billion, a PE ratio of 13.42, a PEG ratio of 1.26 and a beta of 0.83. The company has a current ratio of 2.51, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $26.44 and a two-hundred day moving average price of $27.11.

Smith & Nephew Increases Dividend

The firm also recently declared 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. This is a boost from Smith & Nephew’s previous semi-annual dividend of $0.29. The ex-dividend date of this dividend is Friday, March 28th. This represents a dividend yield of 2.5%. Smith & Nephew’s payout ratio is currently 41.20%.

Hedge Funds Weigh In On Smith & Nephew

Several large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in Smith & Nephew by 29.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 27,199 shares of the medical equipment provider’s stock valued at $847,000 after purchasing an additional 6,164 shares during the last quarter. Stifel Financial Corp acquired a new position in shares of Smith & Nephew during the 3rd quarter worth about $1,258,000. Maverick Capital Ltd. bought a new stake in shares of Smith & Nephew in the 3rd quarter valued at about $2,086,000. Blue Trust Inc. raised its position in shares of Smith & Nephew by 26.0% in the 4th quarter. Blue Trust Inc. now owns 5,871 shares of the medical equipment provider’s stock valued at $144,000 after acquiring an additional 1,213 shares during the period. Finally, GAMMA Investing LLC boosted 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 acquiring an additional 718 shares during the last quarter. 25.64% of the stock is currently owned by institutional investors and hedge funds.

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.