Smith & Nephew (NYSE:SNN) Receives “Hold” Rating from Canaccord Genuity Group

Canaccord Genuity Group restated their hold rating on shares of Smith & Nephew (NYSE:SNN) in a research note published on Monday,Benzinga reports. Canaccord Genuity Group currently has a $27.00 price objective on the medical equipment provider’s stock.

SNN has been the topic of several other reports. StockNews.com upgraded Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 26th. UBS Group cut Smith & Nephew from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $27.00.

Smith & Nephew Price Performance

Shares of Smith & Nephew stock opened at $28.99 on Monday. The firm has a fifty day moving average price of $26.44 and a two-hundred day moving average price of $27.11. Smith & Nephew has a fifty-two week low of $23.65 and a fifty-two week high of $31.72. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11. The company has a market cap of $12.68 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 1.26 and a beta of 0.83.

Smith & Nephew Increases Dividend

The business 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 $0.447 dividend. This is a positive change from Smith & Nephew’s previous semi-annual dividend of $0.29. This represents a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, March 28th. Smith & Nephew’s dividend payout ratio is currently 41.20%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SNN. Principal Securities Inc. boosted its stake in shares of Smith & Nephew by 87.6% in the 4th quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 691 shares in the last quarter. R Squared Ltd acquired a new position in Smith & Nephew in the fourth quarter valued at about $41,000. National Bank of Canada FI grew its stake in Smith & Nephew by 36.5% during the fourth quarter. National Bank of Canada FI now owns 1,667 shares of the medical equipment provider’s stock worth $41,000 after buying an additional 446 shares during the last quarter. Hara Capital LLC increased its holdings in shares of Smith & Nephew by 391.4% during the fourth quarter. Hara Capital LLC now owns 2,457 shares of the medical equipment provider’s stock worth $60,000 after buying an additional 1,957 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Smith & Nephew by 31.8% in the fourth quarter. GAMMA Investing LLC now owns 2,975 shares of the medical equipment provider’s stock valued at $73,000 after acquiring an additional 718 shares during the last quarter. 25.64% of the stock is currently owned by institutional investors and hedge funds.

Smith & Nephew Company Profile

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.