O Shaughnessy Asset Management LLC purchased a new position in Smith & Nephew plc (NYSE:SNN) during the 4th quarter, HoldingsChannel reports. The fund purchased 1,132 shares of the medical equipment provider’s stock, valued at approximately $42,000.
A number of other hedge funds have also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. purchased a new stake in Smith & Nephew during the fourth quarter valued at $52,000. Enlightenment Research LLC purchased a new stake in Smith & Nephew during the fourth quarter valued at $52,000. Acadian Asset Management LLC purchased a new stake in Smith & Nephew during the fourth quarter valued at $57,000. Lindbrook Capital LLC purchased a new stake in Smith & Nephew during the fourth quarter valued at $68,000. Finally, Quadrant Capital Group LLC increased its position in Smith & Nephew by 180.5% during the fourth quarter. Quadrant Capital Group LLC now owns 3,136 shares of the medical equipment provider’s stock valued at $111,000 after acquiring an additional 2,018 shares during the last quarter. 9.32% of the stock is currently owned by institutional investors.
A number of analysts recently commented on the company. Zacks Investment Research upgraded Smith & Nephew from a “hold” rating to a “strong-buy” rating and set a $45.00 price objective for the company in a research report on Thursday. Deutsche Bank upgraded Smith & Nephew from a “sell” rating to a “hold” rating in a research report on Friday, December 7th. Finally, Morgan Stanley upgraded Smith & Nephew from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 10th. Five investment 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’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $43.50.
The company also recently declared a semiannual dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, April 5th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, April 4th. This is a positive change from Smith & Nephew’s previous semiannual dividend of $0.25. This represents a yield of 2.31%. Smith & Nephew’s dividend payout ratio is presently 26.73%.
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Smith & Nephew Profile
Smith & Nephew plc develops, manufactures, and sells medical devices worldwide. The company offers sports medicine joint repair products for surgeons, including an array of instruments, technologies, and implants necessary to perform minimally invasive surgery of the joints, such as the repair of soft tissue injuries and degenerative conditions of the knee, hip, and shoulder.
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