Verition Fund Management LLC lifted its position in shares of Smith & Nephew plc (NYSE:SNN – Get Rating) by 446.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,695 shares of the medical equipment provider's stock after acquiring an additional 139,445 shares during the quarter. Verition Fund Management LLC's holdings in Smith & Nephew were worth $5,445,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Nuance Investments LLC boosted its stake in shares of Smith & Nephew by 3.7% during the 1st quarter. Nuance Investments LLC now owns 10,256,123 shares of the medical equipment provider's stock worth $327,170,000 after acquiring an additional 366,117 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Smith & Nephew by 3.5% during the 1st quarter. Lazard Asset Management LLC now owns 954,239 shares of the medical equipment provider's stock worth $30,440,000 after purchasing an additional 31,912 shares during the last quarter. Raymond James & Associates raised its position in shares of Smith & Nephew by 6.6% during the 1st quarter. Raymond James & Associates now owns 853,256 shares of the medical equipment provider's stock worth $27,219,000 after purchasing an additional 53,176 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Smith & Nephew by 691.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 803,232 shares of the medical equipment provider's stock worth $25,623,000 after purchasing an additional 701,806 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Smith & Nephew by 218.3% during the 1st quarter. JPMorgan Chase & Co. now owns 776,810 shares of the medical equipment provider's stock worth $24,781,000 after purchasing an additional 532,763 shares during the last quarter. Hedge funds and other institutional investors own 8.56% of the company's stock.
Get Smith & Nephew alerts:Smith & Nephew Stock Down 2.0 %
SNN stock opened at $24.88 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.84 and a current ratio of 1.78. The business has a fifty day simple moving average of $26.13 and a 200-day simple moving average of $29.57. Smith & Nephew plc has a 52 week low of $23.48 and a 52 week high of $37.48.
Smith & Nephew Dividend Announcement
The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, October 26th. Investors of record on Friday, September 30th will be given a dividend of $0.288 per share. The ex-dividend date is Thursday, September 29th. This represents a yield of 2.8%.Analyst Ratings Changes
Several research analysts recently issued reports on SNN shares. UBS Group cut their price objective on Smith & Nephew from GBX 1,190 ($14.38) to GBX 1,116 ($13.48) in a research report on Tuesday, August 16th. Barclays cut their price target on Smith & Nephew from GBX 1,650 ($19.94) to GBX 1,630 ($19.70) in a report on Tuesday, July 5th. StockNews.com downgraded Smith & Nephew from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 3rd. Canaccord Genuity Group downgraded Smith & Nephew from a "buy" rating to a "hold" rating in a report on Thursday, July 28th. Finally, Canaccord Genuity Group downgraded Smith & Nephew from a "buy" rating to a "hold" rating in a report on Thursday, July 28th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,396.00.
Smith & Nephew Company Profile
(Get Rating)
Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices worldwide. The company offers knee implant products for 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.
Further Reading
- Get a free copy of the StockNews.com research report on Smith & Nephew (SNN)
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