Smith & Nephew (NYSE:SNN) Shares Gap Down to $26.34

Smith & Nephew plc (NYSE:SNN)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $26.34, but opened at $25.65. Smith & Nephew shares last traded at $25.72, with a volume of 199,901 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 15th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Smith & Nephew Stock Performance

The stock has a fifty day moving average of $27.60 and a 200 day moving average of $26.09. The company has a quick ratio of 0.72, a current ratio of 1.77 and a debt-to-equity ratio of 0.44.

Smith & Nephew Dividend Announcement

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, April 2nd will be issued a dividend of $0.462 per share. The ex-dividend date is Monday, April 1st. This represents a dividend yield of 2.8%.

Institutional Trading of Smith & Nephew

Hedge funds have recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in shares of Smith & Nephew by 397.3% during the 4th quarter. Bessemer Group Inc. now owns 920 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 735 shares in the last quarter. CWM LLC grew its position in Smith & Nephew by 68.6% in the 4th quarter. CWM LLC now owns 954 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 388 shares during the last quarter. Garner Asset Management Corp bought a new position in Smith & Nephew in the 4th quarter valued at $26,000. Allworth Financial LP grew its position in Smith & Nephew by 1,566.2% in the 3rd quarter. Allworth Financial LP now owns 1,133 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 1,065 shares during the last quarter. Finally, Spire Wealth Management grew its position in Smith & Nephew by 224.3% in the 4th quarter. Spire Wealth Management now owns 1,015 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 702 shares during the last quarter. 25.64% of the stock is owned by hedge funds and other institutional investors.

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.