Raymond James & Associates Cuts Stock Holdings in Smith & Nephew plc (NYSE:SNN)

Raymond James & Associates decreased its holdings in shares of Smith & Nephew plc (NYSE:SNN) by 87.7% during the fourth quarter, HoldingsChannel reports. The firm owned 71,461 shares of the medical equipment provider’s stock after selling 511,426 shares during the period. Raymond James & Associates’ holdings in Smith & Nephew were worth $1,949,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bessemer Group Inc. boosted its holdings in shares of Smith & Nephew by 397.3% in the 4th quarter. Bessemer Group Inc. now owns 920 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 735 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Smith & Nephew by 1,566.2% in the 3rd quarter. Allworth Financial LP now owns 1,133 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 1,065 shares in the last quarter. Clear Street Markets LLC bought a new stake in shares of Smith & Nephew in the 4th quarter valued at about $38,000. Tower Research Capital LLC TRC boosted its holdings in shares of Smith & Nephew by 18,258.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,203 shares of the medical equipment provider’s stock valued at $55,000 after buying an additional 2,191 shares in the last quarter. Finally, Ronald Blue Trust Inc. boosted its holdings in shares of Smith & Nephew by 173.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 3,235 shares of the medical equipment provider’s stock valued at $80,000 after buying an additional 2,054 shares in the last quarter. 25.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a report on Friday, March 15th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Smith & Nephew Stock Up 0.5 %

Shares of NYSE SNN opened at $23.93 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 1.77. Smith & Nephew plc has a 12 month low of $21.52 and a 12 month high of $33.08. The company has a 50 day simple moving average of $26.49 and a two-hundred day simple moving average of $25.96.

Smith & Nephew Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, April 2nd will be issued a dividend of $0.462 per share. This represents a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, April 1st.

About Smith & Nephew

Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices and services in the United Kingdom and internationally. It 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; trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures; and other reconstruction products.