Smith & Nephew plc (SNN) Stake Lowered by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. reduced its stake in Smith & Nephew plc (NYSE:SNN) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,891 shares of the medical equipment provider’s stock after selling 300 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Smith & Nephew plc were worth $1,698,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Parametric Portfolio Associates LLC increased its stake in shares of Smith & Nephew plc by 22.7% in the first quarter. Parametric Portfolio Associates LLC now owns 416,925 shares of the medical equipment provider’s stock worth $12,895,000 after buying an additional 77,033 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Smith & Nephew plc by 24.2% in the first quarter. Ameriprise Financial Inc. now owns 38,651 shares of the medical equipment provider’s stock worth $1,210,000 after buying an additional 7,521 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Smith & Nephew plc during the first quarter worth $10,007,000. Intrust Bank NA increased its stake in shares of Smith & Nephew plc by 6.8% in the first quarter. Intrust Bank NA now owns 27,928 shares of the medical equipment provider’s stock worth $864,000 after buying an additional 1,772 shares during the last quarter. Finally, World Asset Management Inc increased its stake in shares of Smith & Nephew plc by 1.0% in the first quarter. World Asset Management Inc now owns 27,656 shares of the medical equipment provider’s stock worth $855,000 after buying an additional 285 shares during the last quarter. 6.14% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Smith & Nephew plc (NYSE:SNN)

Shares of Smith & Nephew plc (NYSE:SNN) traded up 1.40% during midday trading on Friday, reaching $34.73. 684,368 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $32.76 and a 200-day moving average of $30.60. Smith & Nephew plc has a 1-year low of $26.97 and a 1-year high of $35.38. The company has a market capitalization of $15.18 billion, a PE ratio of 19.78 and a beta of 0.80.

The company also recently declared a semiannual dividend, which was paid on Wednesday, May 10th. Investors of record on Friday, March 31st were issued a $0.37 dividend. This represents a yield of 2.42%. The ex-dividend date was Wednesday, March 29th.

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A number of brokerages have weighed in on SNN. Zacks Investment Research raised shares of Smith & Nephew plc from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 12th. Goldman Sachs Group Inc downgraded shares of Smith & Nephew plc from a “buy” rating to a “neutral” rating in a report on Monday, February 27th. Berenberg Bank reissued a “hold” rating on shares of Smith & Nephew plc in a report on Wednesday, February 15th. Finally, HSBC Holdings plc began coverage on shares of Smith & Nephew plc in a report on Thursday, January 19th. They issued a “hold” rating for the company. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $37.00.

About Smith & Nephew plc

Smith & Nephew plc is a medical technology company. The Company is engaged in developing, manufacturing, marketing and selling medical devices and services. Its products and services include Sports Medicine Joint Repair, Arthroscopic Enabling Technologies (AET), Trauma & Extremities, Other Surgical Businesses, Knee Implants, Hip Implants, Advanced Wound Care, Advanced Wound Bioactives and Advanced Wound Devices.

12 Month Chart for NYSE:SNN

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