Smith & Nephew (NYSE:SNN) Hits New 52-Week High at $31.28

Smith & Nephew plc (NYSE:SNN) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $31.28 and last traded at $31.26, with a volume of 568211 shares. The stock had previously closed at $30.76.

Wall Street Analyst Weigh In

SNN has been the subject of a number of recent research reports. 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 Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Smith & Nephew in a research note on Wednesday, July 24th. They issued a “buy” rating for the company. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Smith & Nephew Stock Up 0.8 %

The company has a quick ratio of 1.11, a current ratio of 2.51 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average is $29.16 and its 200-day moving average is $26.85.

Smith & Nephew Increases Dividend

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

Hedge Funds Weigh In On Smith & Nephew

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC boosted its stake in Smith & Nephew by 68.6% in the 4th quarter. CWM LLC now owns 954 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 388 shares in the last quarter. Spire Wealth Management lifted 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 in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Smith & Nephew by 75.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,227 shares of the medical equipment provider’s stock valued at $33,000 after purchasing an additional 526 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Smith & Nephew by 150.9% in the 4th quarter. Parallel Advisors LLC now owns 1,533 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 922 shares in the last quarter. Finally, Mather Group LLC. raised its stake in shares of 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 worth $42,000 after purchasing an additional 1,655 shares during the last quarter. Institutional investors own 25.64% of the company’s stock.

About Smith & Nephew

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.