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

Smith & Nephew plc (NYSE:SNN) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totalling 1,290,000 shares, a growth of 13.2% from the August 30th total of 1,140,000 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 517,300 shares, the short-interest ratio is presently 2.5 days.

SNN has been the subject of a number of recent analyst reports. Berenberg Bank upgraded shares of Smith & Nephew from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Zacks Investment Research lowered shares of Smith & Nephew from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, ValuEngine lowered shares of Smith & Nephew from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Smith & Nephew currently has an average rating of “Hold” and a consensus target price of $27.50.

Shares of SNN opened at $47.00 on Wednesday. The firm has a 50-day moving average price of $47.48 and a 200 day moving average price of $43.86. The firm has a market capitalization of $20.54 billion, a PE ratio of 23.27, a P/E/G ratio of 3.23 and a beta of 0.25. The company has a quick ratio of 0.96, a current ratio of 2.00 and a debt-to-equity ratio of 0.40. Smith & Nephew has a 52-week low of $32.22 and a 52-week high of $48.93.

The business also recently announced a — dividend, which will be paid on Wednesday, October 30th. Investors of record on Friday, October 4th will be given a $0.288 dividend. The ex-dividend date is Thursday, October 3rd. This represents a yield of 1.5%. Smith & Nephew’s dividend payout ratio is presently 27.72%.

A number of institutional investors and hedge funds have recently made changes to their positions in SNN. Boston Common Asset Management LLC boosted its position in shares of Smith & Nephew by 7.1% during the 2nd quarter. Boston Common Asset Management LLC now owns 20,425 shares of the medical equipment provider’s stock valued at $889,000 after purchasing an additional 1,361 shares in the last quarter. Foresters Investment Management Company Inc. boosted its position in shares of Smith & Nephew by 1.5% during the 2nd quarter. Foresters Investment Management Company Inc. now owns 857,050 shares of the medical equipment provider’s stock valued at $37,316,000 after purchasing an additional 12,550 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Smith & Nephew by 354.0% during the 2nd quarter. SG Americas Securities LLC now owns 42,131 shares of the medical equipment provider’s stock valued at $1,834,000 after purchasing an additional 32,852 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Smith & Nephew by 1.7% during the 2nd quarter. Bank of Montreal Can now owns 19,680 shares of the medical equipment provider’s stock valued at $856,000 after purchasing an additional 328 shares in the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of Smith & Nephew by 132.7% during the 2nd quarter. Advisory Services Network LLC now owns 819 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 467 shares in the last quarter. Hedge funds and other institutional investors own 8.76% of the company’s stock.

Smith & Nephew Company Profile

Smith & Nephew plc develops, manufactures, 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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