Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stake in Smith & Nephew plc (NYSE:SNN)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Smith & Nephew plc (NYSE:SNN) by 15.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,022 shares of the medical equipment provider’s stock after buying an additional 1,745 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Smith & Nephew were worth $344,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. CWM LLC boosted its holdings in Smith & Nephew by 68.6% during the 4th quarter. CWM LLC now owns 954 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 388 shares during the period. Allworth Financial LP boosted its stake in shares of Smith & Nephew by 1,566.2% during the third quarter. Allworth Financial LP now owns 1,133 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 1,065 shares during the period. Spire Wealth Management grew its holdings in shares of Smith & Nephew by 224.3% in the fourth quarter. Spire Wealth Management now owns 1,015 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 702 shares during the last quarter. Principal Securities Inc. purchased a new position in Smith & Nephew in the 4th quarter worth about $52,000. Finally, GAMMA Investing LLC purchased a new position in Smith & Nephew in the 4th quarter worth about $53,000. Institutional investors own 25.64% of the company’s stock.

Smith & Nephew Stock Performance

Shares of Smith & Nephew stock opened at $25.63 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 1.77. The stock’s fifty day moving average price is $25.08 and its 200-day moving average price is $26.31. Smith & Nephew plc has a 12 month low of $21.52 and a 12 month high of $32.28.

Smith & Nephew Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Smith & Nephew 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.