Tpg Gp A LLC Sells 332,805 Shares of Smith & Nephew plc (NYSE:SNN)

Tpg Gp A LLC cut its holdings in Smith & Nephew plc (NYSE:SNN) by 13.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,097,386 shares of the medical equipment provider’s stock after selling 332,805 shares during the period. Smith & Nephew makes up about 1.2% of Tpg Gp A LLC’s portfolio, making the stock its 24th biggest holding. Tpg Gp A LLC’s holdings in Smith & Nephew were worth $51,973,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC bought a new stake in Smith & Nephew during the fourth quarter worth approximately $309,000. Wells Fargo & Company MN boosted its holdings in shares of Smith & Nephew by 20.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,003,050 shares of the medical equipment provider’s stock worth $27,363,000 after purchasing an additional 173,448 shares during the period. Franklin Resources Inc. increased its position in shares of Smith & Nephew by 9.0% during the 4th quarter. Franklin Resources Inc. now owns 111,906 shares of the medical equipment provider’s stock valued at $3,053,000 after purchasing an additional 9,242 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Smith & Nephew by 75.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,227 shares of the medical equipment provider’s stock valued at $33,000 after buying an additional 526 shares during the period. Finally, Hsbc Holdings PLC lifted its position in Smith & Nephew by 80.1% in the fourth quarter. Hsbc Holdings PLC now owns 592,734 shares of the medical equipment provider’s stock worth $16,152,000 after buying an additional 263,641 shares during the last quarter. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SNN has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Smith & Nephew in a research note on Wednesday, July 24th. They issued a “buy” rating on the stock. StockNews.com raised shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 5th. Finally, UBS Group upgraded Smith & Nephew from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 5th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Smith & Nephew Price Performance

Shares of NYSE:SNN opened at $30.55 on Wednesday. The firm’s 50 day simple moving average is $30.20 and its 200-day simple moving average is $27.13. The company has a quick ratio of 1.11, a current ratio of 2.51 and a debt-to-equity ratio of 0.63. Smith & Nephew plc has a one year low of $21.52 and a one year high of $31.72.

Smith & Nephew Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a dividend of $0.288 per share. This is an increase from Smith & Nephew’s previous semi-annual dividend of $0.24. The ex-dividend date is Friday, October 4th. This represents a yield of 2.4%.

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.