Hsbc Holdings PLC Acquires 87,360 Shares of Smith & Nephew plc (NYSE:SNN)

Hsbc Holdings PLC increased its holdings in Smith & Nephew plc (NYSE:SNN) by 18.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 548,691 shares of the medical equipment provider’s stock after purchasing an additional 87,360 shares during the quarter. Hsbc Holdings PLC owned 0.13% of Smith & Nephew worth $13,607,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Smith & Nephew by 75.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,227 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 526 shares during the period. Parallel Advisors LLC lifted its position in Smith & Nephew by 150.9% in the fourth quarter. Parallel Advisors LLC now owns 1,533 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 922 shares during the last quarter. Mather Group LLC. lifted its position in Smith & Nephew by 9,735.3% in the second quarter. Mather Group LLC. now owns 1,672 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 1,655 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Smith & Nephew by 1,894.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,735 shares of the medical equipment provider’s stock valued at $43,000 after purchasing an additional 1,648 shares during the period. Finally, Headlands Technologies LLC grew its holdings in shares of Smith & Nephew by 225.0% in the first quarter. Headlands Technologies LLC now owns 3,851 shares of the medical equipment provider’s stock worth $98,000 after purchasing an additional 2,666 shares during the last quarter. 25.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SNN shares. UBS Group upgraded shares of Smith & Nephew from a “neutral” rating to a “buy” rating in a report on Wednesday, June 5th. StockNews.com raised shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Smith & Nephew in a research note on Wednesday, July 24th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Smith & Nephew Trading Down 1.2 %

NYSE:SNN opened at $30.57 on Monday. The company has a current ratio of 2.51, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. The firm’s fifty day simple moving average is $30.09 and its 200 day simple moving average is $27.09. Smith & Nephew plc has a twelve month low of $21.52 and a twelve month high of $31.72.

Smith & Nephew Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.288 per share. This is an increase from Smith & Nephew’s previous dividend of $0.24. The ex-dividend date of this dividend is Friday, October 4th.

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.