Smith & Nephew plc (NYSE:SNN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Smith & Nephew plc (NYSE:SNN) by 18.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,838 shares of the medical equipment provider’s stock after selling 2,461 shares during the period. Bank of New York Mellon Corp’s holdings in Smith & Nephew were worth $269,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SNN. Parallel Advisors LLC grew its stake in Smith & Nephew by 150.9% during the 4th quarter. Parallel Advisors LLC now owns 1,533 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 922 shares during the last quarter. Mather Group LLC. boosted its holdings in 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 acquiring an additional 1,655 shares in the last quarter. Headlands Technologies LLC grew its stake in shares of Smith & Nephew by 225.0% during the first quarter. Headlands Technologies LLC now owns 3,851 shares of the medical equipment provider’s stock worth $98,000 after acquiring an additional 2,666 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Smith & Nephew during the second quarter valued at about $101,000. Finally, Janney Montgomery Scott LLC raised its position in shares of Smith & Nephew by 13.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,611 shares of the medical equipment provider’s stock valued at $244,000 after purchasing an additional 1,165 shares during the last quarter. 25.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on SNN. UBS Group upgraded shares of Smith & Nephew from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 5th. StockNews.com raised shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Smith & Nephew in a research note on Wednesday, July 24th. They set a “buy” rating on the stock. Two research 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Smith & Nephew Stock Performance

NYSE:SNN opened at $30.80 on Friday. The company’s fifty day moving average price is $30.25 and its 200-day moving average price is $27.16. Smith & Nephew plc has a 1-year low of $21.52 and a 1-year high of $31.72. The company has a current ratio of 2.51, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63.

Smith & Nephew Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.288 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a dividend yield of 2.4%. This is a positive change from Smith & Nephew’s previous semi-annual dividend of $0.24.

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.