Envestnet Asset Management Inc. Boosts Stake in Smith & Nephew plc (NYSE:SNN)

Envestnet Asset Management Inc. grew its holdings in Smith & Nephew plc (NYSE:SNN) by 11.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 535,350 shares of the medical equipment provider’s stock after acquiring an additional 57,014 shares during the period. Envestnet Asset Management Inc. owned about 0.12% of Smith & Nephew worth $13,159,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SNN. River Road Asset Management LLC lifted its holdings in shares of Smith & Nephew by 64.0% in the 4th quarter. River Road Asset Management LLC now owns 2,032,016 shares of the medical equipment provider’s stock valued at $49,947,000 after purchasing an additional 792,829 shares during the last quarter. Brandes Investment Partners LP raised its holdings in shares of Smith & Nephew by 11.4% in the fourth quarter. Brandes Investment Partners LP now owns 1,363,039 shares of the medical equipment provider’s stock worth $33,504,000 after acquiring an additional 138,994 shares during the last quarter. Clark Estates Inc. NY grew its holdings in shares of Smith & Nephew by 16.8% during the fourth quarter. Clark Estates Inc. NY now owns 800,000 shares of the medical equipment provider’s stock worth $19,664,000 after buying an additional 115,000 shares in the last quarter. Lorne Steinberg Wealth Management Inc. boosted its stake in Smith & Nephew by 0.9% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 233,155 shares of the medical equipment provider’s stock worth $5,731,000 after buying an additional 2,160 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Smith & Nephew in the 4th quarter valued at about $4,992,000. Hedge funds and other institutional investors own 25.64% of the company’s stock.

Smith & Nephew Trading Down 1.2 %

NYSE:SNN opened at $25.71 on Thursday. Smith & Nephew plc has a 52 week low of $23.69 and a 52 week high of $31.72. The stock’s 50 day moving average price is $27.41 and its 200 day moving average price is $26.53. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 2.51. The company has a market capitalization of $11.24 billion, a P/E ratio of 11.90, a P/E/G ratio of 1.26 and a beta of 0.71.

Smith & Nephew Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, March 28th will be paid a $0.447 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Smith & Nephew’s previous semi-annual dividend of $0.29. This represents a yield of 2.5%. Smith & Nephew’s dividend payout ratio (DPR) is presently 41.20%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SNN shares. Canaccord Genuity Group restated a “hold” rating and issued a $27.00 target price on shares of Smith & Nephew in a research note on Monday, March 17th. UBS Group downgraded shares of Smith & Nephew from a “buy” rating to a “neutral” rating in a report on Wednesday, March 12th. Finally, StockNews.com upgraded shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $27.00.

Smith & Nephew 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.