Smith & Nephew (NYSE:SNN) Upgraded at StockNews.com

StockNews.com upgraded shares of Smith & Nephew (NYSE:SNN) from a buy rating to a strong-buy rating in a report released on Wednesday morning.

Several other analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Smith & Nephew from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Berenberg Bank lowered shares of Smith & Nephew from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $27.00 price objective on shares of Smith & Nephew in a research note on Wednesday. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Smith & Nephew Price Performance

Shares of NYSE SNN opened at $28.98 on Wednesday. Smith & Nephew has a 52 week low of $23.65 and a 52 week high of $31.72. The business’s 50 day moving average price is $25.36 and its 200 day moving average price is $27.24. The company has a quick ratio of 1.11, a current ratio of 2.51 and a debt-to-equity ratio of 0.63. The firm has a market cap of $12.67 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.26 and a beta of 0.84.

Smith & Nephew Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, March 28th will be paid 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 dividend payout ratio (DPR) is presently 25.00%.

Hedge Funds Weigh In On Smith & Nephew

Several large investors have recently made changes to their positions in the company. J. Goldman & Co LP acquired a new stake in Smith & Nephew during the fourth quarter valued at $47,700,000. River Road Asset Management LLC purchased a new stake in shares of Smith & Nephew during the 3rd quarter worth about $38,588,000. Causeway Capital Management LLC acquired a new stake in shares of Smith & Nephew during the 4th quarter valued at about $11,820,000. Northern Trust Corp increased its stake in shares of Smith & Nephew by 169.9% in the 4th quarter. Northern Trust Corp now owns 508,392 shares of the medical equipment provider’s stock valued at $12,496,000 after purchasing an additional 320,054 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Smith & Nephew in the 4th quarter worth about $6,132,000. 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.