Smith & Nephew (NYSE:SNN) Shares Gap Down – Here’s What Happened

Smith & Nephew plc (NYSE:SNN) shares gapped down before the market opened on Wednesday . The stock had previously closed at $29.84, but opened at $28.81. Smith & Nephew shares last traded at $28.61, with a volume of 124,347 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SNN shares. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Smith & Nephew in a research report on Wednesday, February 26th. UBS Group cut shares of Smith & Nephew from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, StockNews.com raised shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $27.00.

Smith & Nephew Stock Performance

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 has a market capitalization of $12.42 billion, a PE ratio of 13.16, a PEG ratio of 1.26 and a beta of 0.83. The firm has a 50 day moving average price of $26.10 and a 200-day moving average price of $27.17.

Smith & Nephew Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, March 28th will be paid a $0.447 dividend. This is an increase from Smith & Nephew’s previous semi-annual dividend of $0.29. The ex-dividend date is Friday, March 28th. This represents a dividend yield of 2.5%. Smith & Nephew’s dividend payout ratio is presently 41.20%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its stake in shares of Smith & Nephew by 4.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,120 shares of the medical equipment provider’s stock worth $224,000 after purchasing an additional 399 shares during the period. National Bank of Canada FI boosted its holdings in Smith & Nephew by 36.5% during the fourth quarter. National Bank of Canada FI now owns 1,667 shares of the medical equipment provider’s stock worth $41,000 after buying an additional 446 shares in the last quarter. Bleakley Financial Group LLC grew its position in Smith & Nephew by 3.5% during the fourth quarter. Bleakley Financial Group LLC now owns 17,704 shares of the medical equipment provider’s stock valued at $435,000 after buying an additional 596 shares during the period. Signaturefd LLC increased its holdings in Smith & Nephew by 4.3% in the fourth quarter. Signaturefd LLC now owns 15,772 shares of the medical equipment provider’s stock valued at $388,000 after buying an additional 653 shares in the last quarter. Finally, Principal Securities Inc. raised its position in shares of Smith & Nephew by 87.6% in the fourth quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 691 shares during the period. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

Smith & Nephew Company 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.