Smith & Nephew plc (NYSE:SNN) Short Interest Down 17.2% in April

Smith & Nephew plc (NYSE:SNN) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 936,100 shares, a decline of 17.2% from the March 31st total of 1,130,000 shares. Based on an average daily trading volume, of 465,100 shares, the short-interest ratio is presently 2.0 days.

A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Smith & Nephew from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 27th. Credit Suisse Group restated a “neutral” rating on shares of Smith & Nephew in a research note on Tuesday. Barclays reiterated an “overweight” rating on shares of Smith & Nephew in a research note on Friday. Berenberg Bank restated a “buy” rating on shares of Smith & Nephew in a report on Tuesday. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Smith & Nephew in a research note on Monday, February 22nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $47.83.

A number of institutional investors have recently added to or reduced their stakes in SNN. WCM Investment Management LLC grew its position in shares of Smith & Nephew by 2.0% in the fourth quarter. WCM Investment Management LLC now owns 7,566,531 shares of the medical equipment provider’s stock valued at $319,081,000 after purchasing an additional 146,660 shares during the last quarter. Northern Trust Corp grew its holdings in Smith & Nephew by 8.4% in the 4th quarter. Northern Trust Corp now owns 2,149,494 shares of the medical equipment provider’s stock valued at $90,644,000 after buying an additional 167,224 shares in the last quarter. FMR LLC increased its position in Smith & Nephew by 640.8% during the 1st quarter. FMR LLC now owns 1,341,034 shares of the medical equipment provider’s stock worth $53,788,000 after buying an additional 1,160,015 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Smith & Nephew by 9.4% during the first quarter. Envestnet Asset Management Inc. now owns 820,756 shares of the medical equipment provider’s stock worth $31,107,000 after buying an additional 70,601 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Smith & Nephew by 13.4% in the fourth quarter. Wells Fargo & Company MN now owns 781,823 shares of the medical equipment provider’s stock valued at $32,969,000 after acquiring an additional 92,414 shares during the period. 8.91% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:SNN traded down $1.24 on Tuesday, hitting $42.26. The company had a trading volume of 1,261,947 shares, compared to its average volume of 494,102. The stock has a market cap of $18.57 billion, a price-to-earnings ratio of 20.71, a P/E/G ratio of 4.91 and a beta of 0.70. The stock has a 50 day moving average price of $39.28 and a 200 day moving average price of $40.46. Smith & Nephew has a 1-year low of $34.29 and a 1-year high of $46.10. The company has a current ratio of 2.18, a quick ratio of 1.04 and a debt-to-equity ratio of 0.50.

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, May 12th. Investors of record on Tuesday, April 6th will be paid a $0.462 dividend. The ex-dividend date of this dividend is Monday, April 5th. This represents a yield of 1.8%. This is a positive change from Smith & Nephew’s previous semi-annual dividend of $0.28. Smith & Nephew’s dividend payout ratio is 44.12%.

Smith & Nephew Company Profile

Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices worldwide. The company offers knee implant products for knee replacement procedures; hip implants for the reconstruction of hip joints; and trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures.

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