Stock Traders Purchase High Volume of Call Options on Smith & Nephew (NYSE:SNN)

Smith & Nephew plc (NYSE:SNN) was the target of some unusual options trading on Wednesday. Investors bought 3,502 call options on the company. This is an increase of approximately 3,835% compared to the average daily volume of 89 call options.

A number of equities analysts have commented on the company. Zacks Investment Research raised Smith & Nephew from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Wednesday, May 15th. Canaccord Genuity reissued a “buy” rating and set a $6.00 target price on shares of Smith & Nephew in a report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $26.50.

Shares of Smith & Nephew stock opened at $43.12 on Thursday. Smith & Nephew has a 12 month low of $32.22 and a 12 month high of $43.43. The company has a market cap of $18.94 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 3.17 and a beta of 0.28. The company has a quick ratio of 1.15, a current ratio of 2.10 and a debt-to-equity ratio of 0.27.

Several institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new stake in shares of Smith & Nephew in the fourth quarter valued at approximately $206,000. NumerixS Investment Technologies Inc increased its holdings in shares of Smith & Nephew by 38.9% in the first quarter. NumerixS Investment Technologies Inc now owns 5,000 shares of the medical equipment provider’s stock valued at $200,000 after purchasing an additional 1,400 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Smith & Nephew by 32.1% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,373 shares of the medical equipment provider’s stock valued at $120,000 after purchasing an additional 819 shares during the last quarter. Dalton Greiner Hartman Maher & Co. increased its holdings in shares of Smith & Nephew by 211.5% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 267,817 shares of the medical equipment provider’s stock valued at $10,742,000 after purchasing an additional 181,851 shares during the last quarter. Finally, Eaton Vance Management increased its holdings in shares of Smith & Nephew by 14.4% in the fourth quarter. Eaton Vance Management now owns 6,472 shares of the medical equipment provider’s stock valued at $242,000 after purchasing an additional 815 shares during the last quarter. 8.70% of the stock is owned by institutional investors and hedge funds.

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About Smith & Nephew

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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