Raymond James Financial Services Advisors Inc. Sells 2,046 Shares of Smith & Nephew plc (NYSE:SNN)

Raymond James Financial Services Advisors Inc. trimmed its stake in shares of Smith & Nephew plc (NYSE:SNN) by 9.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 18,842 shares of the medical equipment provider’s stock after selling 2,046 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Smith & Nephew were worth $514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Scharf Investments LLC grew its position in Smith & Nephew by 20.5% during the 4th quarter. Scharf Investments LLC now owns 2,980,334 shares of the medical equipment provider’s stock worth $81,304,000 after acquiring an additional 506,474 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Smith & Nephew by 17.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 36,315 shares of the medical equipment provider’s stock worth $900,000 after buying an additional 5,384 shares during the last quarter. American Century Companies Inc. grew its position in shares of Smith & Nephew by 343.5% in the 3rd quarter. American Century Companies Inc. now owns 2,364,037 shares of the medical equipment provider’s stock worth $58,557,000 after buying an additional 1,830,965 shares during the last quarter. Legacy Wealth Asset Management LLC grew its position in shares of Smith & Nephew by 3.8% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 15,026 shares of the medical equipment provider’s stock worth $372,000 after buying an additional 546 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Smith & Nephew in the 3rd quarter worth approximately $8,174,000. 25.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Smith & Nephew Trading Down 0.7 %

SNN opened at $23.84 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 1.77. The business has a 50 day moving average of $26.33 and a 200-day moving average of $25.94. Smith & Nephew plc has a 52 week low of $21.52 and a 52 week high of $33.08.

Smith & Nephew Dividend Announcement

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 paid a $0.462 dividend. This represents a dividend yield of 2.8%. The ex-dividend date is Monday, April 1st.

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. 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.