Smith & Nephew plc (LON:SN) traded up 5.7% on Thursday following a dividend announcement from the company. The company traded as high as GBX 1,547.50 ($20.22) and last traded at GBX 1,545 ($20.19). 3,302,420 shares changed hands during trading, an increase of 2% from the average session volume of 3,250,000 shares. The stock had previously closed at GBX 1,461.50 ($19.10).

The newly announced dividend which will be paid on Wednesday, May 8th. Shareholders of record on Thursday, April 4th will be issued a dividend of $0.22 per share. This represents a dividend yield of 1.1%. This is a boost from Smith & Nephew’s previous dividend of $0.14. The ex-dividend date of this dividend is Thursday, April 4th.

A number of analysts have weighed in on the stock. Deutsche Bank reissued a “hold” rating on shares of Smith & Nephew in a report on Friday. BNP Paribas cut shares of Smith & Nephew to a “neutral” rating and increased their target price for the stock from GBX 1,475 ($19.27) to GBX 1,525 ($19.93) in a report on Friday. Credit Suisse Group increased their target price on shares of Smith & Nephew from GBX 1,330 ($17.38) to GBX 1,390 ($18.16) and gave the stock a “neutral” rating in a report on Friday. Morgan Stanley raised shares of Smith & Nephew to an “overweight” rating and increased their price objective for the stock from GBX 1,457 ($19.04) to GBX 1,692 ($22.11) in a report on Monday, December 10th. Finally, JPMorgan Chase & Co. cut shares of Smith & Nephew to a “neutral” rating and set a GBX 1,477 ($19.30) price objective on the stock. in a report on Wednesday, January 2nd. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of GBX 1,479.40 ($19.33).

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About Smith & Nephew (LON:SN)

Smith & Nephew plc designs, develops, 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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