M&T Bank Corp Sells 17,766 Shares of Smith & Nephew plc (NYSE:SNN)

M&T Bank Corp lessened its holdings in Smith & Nephew plc (NYSE:SNN) by 8.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,094 shares of the medical equipment provider’s stock after selling 17,766 shares during the quarter. M&T Bank Corp’s holdings in Smith & Nephew were worth $7,132,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SNN. Ellevest Inc. lifted its position in shares of Smith & Nephew by 540.7% in the first quarter. Ellevest Inc. now owns 724 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 611 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Smith & Nephew by 91.8% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 723 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 346 shares in the last quarter. CWM LLC raised its position in Smith & Nephew by 3,161.8% during the first quarter. CWM LLC now owns 1,109 shares of the medical equipment provider’s stock worth $40,000 after acquiring an additional 1,075 shares in the last quarter. CWM Advisors LLC bought a new stake in Smith & Nephew during the first quarter worth $67,000. Finally, Synovus Financial Corp raised its position in Smith & Nephew by 1,382.1% during the first quarter. Synovus Financial Corp now owns 2,312 shares of the medical equipment provider’s stock worth $81,000 after acquiring an additional 2,156 shares in the last quarter. 9.40% of the stock is currently owned by institutional investors and hedge funds.

NYSE:SNN opened at $39.81 on Friday. Smith & Nephew plc has a one year low of $26.07 and a one year high of $52.26. The firm’s fifty day moving average price is $40.12 and its two-hundred day moving average price is $41.58. The company has a current ratio of 2.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50.

The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 28th. Investors of record on Friday, October 2nd will be paid a $0.278 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a dividend yield of 1.8%. Smith & Nephew’s dividend payout ratio (DPR) is presently 44.12%.

SNN has been the topic of several analyst reports. Berenberg Bank reaffirmed a “buy” rating on shares of Smith & Nephew in a research report on Friday. BofA Securities raised shares of Smith & Nephew from a “neutral” rating to a “buy” rating in a research report on Wednesday. Morgan Stanley reaffirmed an “overweight” rating on shares of Smith & Nephew in a research report on Thursday. Zacks Investment Research downgraded shares of Smith & Nephew from a “hold” rating to a “strong sell” rating in a report on Friday. Finally, Citigroup downgraded shares of Smith & Nephew from a “buy” rating to a “neutral” rating in a report on Tuesday, April 14th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $48.00.

About Smith & Nephew

Smith & Nephew plc develops, manufactures, and sells medical devices worldwide. The company offers sports medicine joint repair products for surgeons, including an array of instruments, technologies, and implants necessary to perform minimally invasive surgery of the joints, such as the repair of soft tissue injuries and degenerative conditions of the knee, hip, and shoulder.

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

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