Smith & Nephew plc (NYSE:SNN) Sees Significant Decrease in Short Interest


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

Smith & Nephew stock traded down $1.24 during trading on Tuesday, hitting $42.26. The stock had a trading volume of 1,261,947 shares, compared to its average volume of 494,102. The company has a quick ratio of 1.04, a current ratio of 2.18 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average is $39.28 and its two-hundred day moving average is $40.46. Smith & Nephew has a 1 year low of $34.29 and a 1 year high of $46.10. The stock has a market cap of $18.57 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 4.91 and a beta of 0.70.

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

Several research analysts have weighed in on SNN shares. Zacks Investment Research upgraded shares of Smith & Nephew from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 27th. Commerzbank downgraded Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Monday, February 22nd. Canaccord Genuity upped their price target on Smith & Nephew from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Friday. Barclays reiterated an “overweight” rating on shares of Smith & Nephew in a research note on Friday. Finally, Berenberg Bank restated a “buy” rating on shares of Smith & Nephew in a report on Tuesday. 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. The company presently has an average rating of “Hold” and an average target price of $47.83.

A number of institutional investors have recently made changes to their positions in SNN. Prio Wealth Limited Partnership increased its stake in shares of Smith & Nephew by 1.3% in the fourth quarter. Prio Wealth Limited Partnership now owns 590,963 shares of the medical equipment provider’s stock worth $24,921,000 after purchasing an additional 7,832 shares in the last quarter. WCM Investment Management LLC raised its holdings in Smith & Nephew by 2.0% during the 4th quarter. WCM Investment Management LLC now owns 7,566,531 shares of the medical equipment provider’s stock valued at $319,081,000 after acquiring an additional 146,660 shares during the period. ExodusPoint Capital Management LP lifted its position in shares of Smith & Nephew by 208.2% during the fourth quarter. ExodusPoint Capital Management LP now owns 154,100 shares of the medical equipment provider’s stock worth $6,498,000 after acquiring an additional 104,100 shares in the last quarter. Cresset Asset Management LLC purchased a new stake in shares of Smith & Nephew during the fourth quarter worth $203,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Smith & Nephew by 17.0% in the fourth quarter. Renaissance Technologies LLC now owns 175,450 shares of the medical equipment provider’s stock worth $7,399,000 after acquiring an additional 25,500 shares during the period. Institutional investors and hedge funds own 8.91% of the company’s stock.

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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