Smith & Nephew plc (NYSE:SNN) Sees Large Decline in Short Interest

Smith & Nephew plc (NYSE:SNN) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 2,640,000 shares, a decline of 25.0% from the September 30th total of 3,520,000 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average daily trading volume, of 637,000 shares, the short-interest ratio is currently 4.1 days.

Hedge Funds Weigh In On Smith & Nephew

A number of institutional investors and hedge funds have recently modified their holdings of the company. Argonautica Private Wealth Management Inc. lifted its holdings in Smith & Nephew by 6.3% during the 2nd quarter. Argonautica Private Wealth Management Inc. now owns 10,244 shares of the medical equipment provider’s stock worth $254,000 after buying an additional 605 shares during the last quarter. First Trust Direct Indexing L.P. lifted its stake in Smith & Nephew by 6.9% during the third quarter. First Trust Direct Indexing L.P. now owns 9,659 shares of the medical equipment provider’s stock worth $301,000 after purchasing an additional 626 shares during the last quarter. Inspire Advisors LLC boosted its holdings in Smith & Nephew by 3.0% in the second quarter. Inspire Advisors LLC now owns 22,286 shares of the medical equipment provider’s stock valued at $552,000 after purchasing an additional 639 shares in the last quarter. Rhumbline Advisers increased its stake in Smith & Nephew by 8.6% in the second quarter. Rhumbline Advisers now owns 10,365 shares of the medical equipment provider’s stock valued at $257,000 after purchasing an additional 819 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC raised its holdings in Smith & Nephew by 6.0% during the first quarter. Legacy Wealth Asset Management LLC now owns 16,022 shares of the medical equipment provider’s stock worth $406,000 after purchasing an additional 903 shares in the last quarter. Institutional investors and hedge funds own 25.64% of the company’s stock.

Smith & Nephew Stock Down 3.8 %

Smith & Nephew stock traded down $1.13 during trading on Friday, reaching $28.37. The stock had a trading volume of 1,138,975 shares, compared to its average volume of 853,166. Smith & Nephew has a 52-week low of $21.52 and a 52-week high of $31.72. The business has a 50 day moving average price of $30.30 and a 200 day moving average price of $27.70. The company has a quick ratio of 1.11, a current ratio of 2.51 and a debt-to-equity ratio of 0.63. The stock has a market cap of $12.40 billion, a PE ratio of 13.77, a P/E/G ratio of 1.29 and a beta of 0.82.

Analyst Ratings Changes

SNN has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft began coverage on Smith & Nephew in a research report on Wednesday, July 24th. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Smith & Nephew has an average rating of “Buy”.

About Smith & Nephew

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.