Moran Wealth Management LLC Reduces Stock Holdings in Smith & Nephew plc (NYSE:SNN)

Moran Wealth Management LLC lessened its stake in shares of Smith & Nephew plc (NYSE:SNN) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 190,673 shares of the medical equipment provider’s stock after selling 1,721 shares during the period. Moran Wealth Management LLC’s holdings in Smith & Nephew were worth $5,938,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SNN. International Assets Investment Management LLC bought a new position in Smith & Nephew during the 3rd quarter valued at about $792,000. Lorne Steinberg Wealth Management Inc. raised its holdings in shares of Smith & Nephew by 53.6% in the second quarter. Lorne Steinberg Wealth Management Inc. now owns 231,045 shares of the medical equipment provider’s stock worth $5,725,000 after buying an additional 80,650 shares during the period. Clearbridge Investments LLC bought a new stake in shares of Smith & Nephew during the 1st quarter worth approximately $2,612,000. Sanctuary Advisors LLC purchased a new position in Smith & Nephew during the 2nd quarter valued at $627,000. Finally, Bank of Montreal Can grew its position in Smith & Nephew by 355.8% in the 2nd quarter. Bank of Montreal Can now owns 1,235,916 shares of the medical equipment provider’s stock valued at $31,059,000 after acquiring an additional 964,762 shares during the last quarter. 25.64% of the stock is currently owned by institutional investors.

Smith & Nephew Stock Performance

Shares of Smith & Nephew stock opened at $25.22 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 2.51. The stock’s fifty day moving average price is $28.37 and its 200-day moving average price is $27.87. Smith & Nephew plc has a 12 month low of $23.65 and a 12 month high of $31.72.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SNN. StockNews.com lowered shares of Smith & Nephew from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft downgraded shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Berenberg Bank lowered shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Smith & Nephew has an average rating of “Hold”.

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.