Simplicity Wealth LLC Invests $377,000 in Smith & Nephew plc (NYSE:SNN)

Simplicity Wealth LLC acquired a new stake in Smith & Nephew plc (NYSE:SNN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,855 shares of the medical equipment provider’s stock, valued at approximately $377,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Scharf Investments LLC lifted its holdings in Smith & Nephew by 20.5% in the 4th quarter. Scharf Investments LLC now owns 2,980,334 shares of the medical equipment provider’s stock valued at $81,304,000 after purchasing an additional 506,474 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Smith & Nephew by 17.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 36,315 shares of the medical equipment provider’s stock worth $900,000 after acquiring an additional 5,384 shares during the period. Seed Wealth Management Inc. acquired a new position in Smith & Nephew in the 4th quarter valued at $213,000. Moran Wealth Management LLC purchased a new position in shares of Smith & Nephew during the 4th quarter worth $5,173,000. Finally, London & Capital Asset Management Ltd acquired a new stake in shares of Smith & Nephew during the fourth quarter worth $1,054,000. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Smith & Nephew from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 13th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Smith & Nephew Price Performance

Shares of SNN traded down $0.22 during mid-day trading on Wednesday, reaching $25.63. The company had a trading volume of 809,847 shares, compared to its average volume of 994,817. The company has a quick ratio of 0.72, a current ratio of 1.77 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $25.08 and a 200-day simple moving average of $26.31. Smith & Nephew plc has a fifty-two week low of $21.52 and a fifty-two week high of $32.28.

Smith & Nephew Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, April 2nd will be given a dividend of $0.462 per share. This represents a yield of 2.8%. The ex-dividend date is Monday, April 1st.

Smith & Nephew Company Profile

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.