First Trust Direct Indexing L.P. Reduces Stock Position in Smith & Nephew plc (NYSE:SNN)

First Trust Direct Indexing L.P. reduced its stake in Smith & Nephew plc (NYSE:SNN) by 11.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,211 shares of the medical equipment provider’s stock after selling 1,191 shares during the period. First Trust Direct Indexing L.P.’s holdings in Smith & Nephew were worth $251,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CWM LLC increased its holdings in shares of Smith & Nephew by 68.6% in the fourth quarter. CWM LLC now owns 954 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 388 shares during the period. Argonautica Private Wealth Management Inc. grew its holdings in Smith & Nephew by 4.5% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 10,362 shares of the medical equipment provider’s stock valued at $283,000 after purchasing an additional 449 shares during the last quarter. Highland Capital Management LLC boosted its position in shares of Smith & Nephew by 1.8% in the 4th quarter. Highland Capital Management LLC now owns 24,915 shares of the medical equipment provider’s stock worth $680,000 after buying an additional 450 shares in the last quarter. Legacy Wealth Asset Management LLC grew its stake in Smith & Nephew by 3.8% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 15,026 shares of the medical equipment provider’s stock valued at $372,000 after acquiring an additional 546 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in Smith & Nephew by 65.8% in the 4th quarter. Allworth Financial LP now owns 1,878 shares of the medical equipment provider’s stock valued at $51,000 after buying an additional 745 shares in the last quarter. 25.64% of the stock is owned by hedge funds and other institutional investors.

Smith & Nephew Stock Up 0.7 %

SNN stock opened at $24.93 on Wednesday. The business has a fifty day simple moving average of $25.43 and a 200-day simple moving average of $26.09. Smith & Nephew plc has a 52 week low of $21.52 and a 52 week high of $32.71. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 1.77.

Smith & Nephew Announces Dividend

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

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 15th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Smith & Nephew has an average rating of “Moderate Buy”.

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.