Smith & Nephew (NYSE:SNN) Sees Large Volume Increase – Here’s What Happened

Shares of Smith & Nephew plc (NYSE:SNN) saw unusually-high trading volume on Friday . Approximately 2,453,133 shares changed hands during trading, an increase of 185% from the previous session’s volume of 861,303 shares.The stock last traded at $24.75 and had previously closed at $24.79.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. StockNews.com lowered Smith & Nephew from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lowered shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Berenberg Bank downgraded shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th.

Smith & Nephew Price Performance

The business has a 50 day moving average price of $26.21 and a 200-day moving average price of $27.89. The company has a market capitalization of $10.78 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 1.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 2.51.

Hedge Funds Weigh In On Smith & Nephew

Several institutional investors have recently added to or reduced their stakes in the business. Brandes Investment Partners LP increased its stake in shares of Smith & Nephew by 20.5% in the 2nd quarter. Brandes Investment Partners LP now owns 1,373,051 shares of the medical equipment provider’s stock valued at $34,002,000 after acquiring an additional 233,293 shares in the last quarter. River Road Asset Management LLC acquired a new stake in Smith & Nephew in the third quarter worth $38,588,000. Bank of Montreal Can increased its stake in Smith & Nephew by 355.8% in the second quarter. Bank of Montreal Can now owns 1,235,916 shares of the medical equipment provider’s stock valued at $31,059,000 after purchasing an additional 964,762 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Smith & Nephew by 18.9% during the second quarter. Hsbc Holdings PLC now owns 548,691 shares of the medical equipment provider’s stock valued at $13,607,000 after purchasing an additional 87,360 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Smith & Nephew by 58.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 524,602 shares of the medical equipment provider’s stock worth $12,995,000 after purchasing an additional 193,046 shares in the last quarter. 25.64% of the stock is owned by institutional investors and hedge funds.

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.