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

Smith & Nephew plc (NYSE:SNN)’s share price 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 traded.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SNN shares. StockNews.com raised shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $27.00 target price on shares of Smith & Nephew in a research report on Wednesday, February 26th. Finally, UBS Group cut shares of Smith & Nephew from a “buy” rating to a “neutral” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Smith & Nephew presently has a consensus rating of “Hold” and a consensus target price of $27.00.

Smith & Nephew Stock Performance

The company has a market capitalization of $12.34 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 1.26 and a beta of 0.83. 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 firm has a 50-day simple moving average of $26.27 and a two-hundred day simple moving average of $27.19.

Smith & Nephew Increases Dividend

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

Institutional Investors Weigh In On Smith & Nephew

A number of hedge funds have recently bought and sold shares of SNN. Principal Securities Inc. boosted its position in shares of Smith & Nephew by 87.6% during the 4th 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 in the last quarter. R Squared Ltd acquired a new stake in shares of Smith & Nephew in the fourth quarter valued at approximately $41,000. National Bank of Canada FI grew its position in shares of 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 acquiring an additional 446 shares during the last quarter. Hara Capital LLC increased its holdings in shares of Smith & Nephew by 391.4% in the 4th quarter. Hara Capital LLC now owns 2,457 shares of the medical equipment provider’s stock valued at $60,000 after acquiring an additional 1,957 shares during the period. Finally, GAMMA Investing LLC grew its position in Smith & Nephew by 31.8% during the 4th quarter. GAMMA Investing LLC now owns 2,975 shares of the medical equipment provider’s stock worth $73,000 after purchasing an additional 718 shares during the last quarter. Institutional investors and hedge funds own 25.64% of the company’s stock.

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.