Citigroup Inc. Buys 49,488 Shares of Smith & Nephew plc (NYSE:SNN)

Citigroup Inc. increased its holdings in Smith & Nephew plc (NYSE:SNN – Get Rating) by 65.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 124,601 shares of the medical equipment provider’s stock after buying an additional 49,488 shares during the quarter. Citigroup Inc.’s holdings in Smith & Nephew were worth $3,351,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Beutel Goodman & Co Ltd. increased its holdings in Smith & Nephew by 3.6% in the 3rd quarter. Beutel Goodman & Co Ltd. now owns 13,525 shares of the medical equipment provider’s stock worth $314,000 after buying an additional 470 shares in the last quarter. Ridgewood Investments LLC increased its holdings in Smith & Nephew by 1.6% in the 4th quarter. Ridgewood Investments LLC now owns 39,160 shares of the medical equipment provider’s stock worth $1,053,000 after buying an additional 625 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Smith & Nephew by 19.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,438 shares of the medical equipment provider’s stock worth $119,000 after buying an additional 717 shares in the last quarter. Mayfair Advisory Group LLC increased its holdings in Smith & Nephew by 7.7% in the 3rd quarter. Mayfair Advisory Group LLC now owns 12,882 shares of the medical equipment provider’s stock worth $303,000 after buying an additional 919 shares in the last quarter. Finally, Trexquant Investment LP increased its holdings in Smith & Nephew by 7.5% in the 3rd quarter. Trexquant Investment LP now owns 13,295 shares of the medical equipment provider’s stock worth $309,000 after buying an additional 922 shares in the last quarter. 9.11% of the stock is currently owned by institutional investors.

Smith & Nephew Stock Down 0.6 %

SNN stock opened at $31.67 on Tuesday. The business’s 50-day moving average price is $30.21 and its 200-day moving average price is $28.42. The company has a quick ratio of 0.96, a current ratio of 2.25 and a debt-to-equity ratio of 0.52. Smith & Nephew plc has a twelve month low of $21.77 and a twelve month high of $33.08.

Smith & Nephew Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, May 17th. Investors of record on Friday, March 31st were issued a $0.462 dividend. The ex-dividend date was Thursday, March 30th. This is a boost from Smith & Nephew’s previous semi-annual dividend of $0.29. This represents a yield of 2.6%.

Analysts Set New Price Targets

SNN has been the subject of several research analyst reports. Barclays downgraded Smith & Nephew from an “overweight” rating to an “underweight” rating in a report on Wednesday, March 29th. HSBC cut Smith & Nephew from a “buy” rating to a “hold” rating in a research report on Thursday, April 27th. Sanford C. Bernstein initiated coverage on Smith & Nephew in a research report on Tuesday, March 7th. They issued an “outperform” rating on the stock. StockNews.com initiated coverage on Smith & Nephew in a research report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Finally, UBS Group raised their target price on Smith & Nephew from GBX 970 ($12.06) to GBX 1,000 ($12.44) in a research report on Wednesday, February 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $1,240.00.

Smith & Nephew Company Profile

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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.