Wells Fargo & Company MN trimmed its position in Smith & Nephew plc (NYSE:SNN) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 371,534 shares of the medical equipment provider’s stock after selling 16,258 shares during the quarter. Wells Fargo & Company MN owned approximately 0.08% of Smith & Nephew worth $13,780,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in SNN. Checchi Capital Advisers LLC purchased a new stake in shares of Smith & Nephew in the second quarter worth about $204,000. Capital Fund Management S.A. purchased a new stake in shares of Smith & Nephew in the second quarter worth about $210,000. Avestar Capital LLC lifted its holdings in shares of Smith & Nephew by 25.8% in the third quarter. Avestar Capital LLC now owns 7,910 shares of the medical equipment provider’s stock worth $276,000 after buying an additional 1,623 shares in the last quarter. Alps Advisors Inc. purchased a new stake in shares of Smith & Nephew in the second quarter worth about $302,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Smith & Nephew in the second quarter worth about $372,000. 9.03% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on SNN shares. Zacks Investment Research downgraded shares of Smith & Nephew from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Canaccord Genuity reissued a “buy” rating on shares of Smith & Nephew in a report on Thursday, November 1st. HSBC downgraded shares of Smith & Nephew from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Finally, Deutsche Bank raised shares of Smith & Nephew from a “sell” rating to a “hold” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Smith & Nephew presently has an average rating of “Hold” and a consensus price target of $42.00.
Shares of Smith & Nephew stock opened at $37.93 on Friday. Smith & Nephew plc has a 12-month low of $32.22 and a 12-month high of $39.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.13 and a quick ratio of 1.05.
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About Smith & Nephew
Smith & Nephew plc designs, develops, 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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