First Trust Direct Indexing L.P. Sells 1,191 Shares of Smith & Nephew plc (NYSE:SNN)

First Trust Direct Indexing L.P. trimmed its position in shares of Smith & Nephew plc (NYSE:SNN) by 11.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,211 shares of the medical equipment provider’s stock after selling 1,191 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Smith & Nephew were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Scharf Investments LLC grew its stake in shares of 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 period. PNC Financial Services Group Inc. raised its position in shares of Smith & Nephew by 17.4% in the third quarter. PNC Financial Services Group Inc. now owns 36,315 shares of the medical equipment provider’s stock valued at $900,000 after purchasing an additional 5,384 shares during the period. Seed Wealth Management Inc. purchased a new stake in shares of Smith & Nephew during the 4th quarter valued at approximately $213,000. London & Capital Asset Management Ltd bought a new position in Smith & Nephew in the 4th quarter worth approximately $1,054,000. Finally, Kornitzer Capital Management Inc. KS grew its stake in Smith & Nephew by 38.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 245,609 shares of the medical equipment provider’s stock valued at $6,700,000 after buying an additional 68,609 shares in the last quarter. 25.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Smith & Nephew Stock Performance

Smith & Nephew stock opened at $24.93 on Wednesday. Smith & Nephew plc has a 1-year low of $21.52 and a 1-year high of $32.71. The company has a quick ratio of 0.72, a current ratio of 1.77 and a debt-to-equity ratio of 0.44. The firm’s 50 day simple moving average is $25.43 and its 200 day simple moving average is $26.09.

Smith & Nephew Announces Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, April 2nd will be given a $0.462 dividend. The ex-dividend date is Monday, April 1st. This represents a dividend yield of 2.8%.

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.