Smith & Nephew plc (NYSE:SNN) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 1,290,000 shares, an increase of 13.2% from the August 30th total of 1,140,000 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily volume of 517,300 shares, the days-to-cover ratio is presently 2.5 days.
Hedge funds and other institutional investors have recently modified their holdings of the company. LS Investment Advisors LLC bought a new position in shares of Smith & Nephew during the 2nd quarter worth approximately $31,000. Advisory Services Network LLC boosted its stake 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 worth $36,000 after acquiring an additional 467 shares during the period. Oakworth Capital Inc. bought a new position in shares of Smith & Nephew during the 2nd quarter worth approximately $42,000. Pinnacle Bank boosted its stake in shares of Smith & Nephew by 27.6% during the 3rd quarter. Pinnacle Bank now owns 1,063 shares of the medical equipment provider’s stock worth $51,000 after acquiring an additional 230 shares during the period. Finally, SRS Capital Advisors Inc. bought a new position in shares of Smith & Nephew during the 2nd quarter worth approximately $54,000. Institutional investors own 8.76% of the company’s stock.
A number of research analysts have weighed in on SNN shares. ValuEngine downgraded Smith & Nephew from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research downgraded Smith & Nephew from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Finally, Berenberg Bank upgraded Smith & Nephew from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $27.50.
Shares of NYSE SNN traded down $0.23 during midday trading on Monday, hitting $46.74. 19,436 shares of the company’s stock were exchanged, compared to its average volume of 573,896. 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 12 month low of $32.22 and a 12 month high of $48.93. The company’s 50 day moving average price is $47.49 and its 200 day moving average price is $43.73. The firm has a market capitalization of $20.45 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 3.22 and a beta of 0.25.
The firm also recently announced a — dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.288 per share. The ex-dividend date is Thursday, October 3rd. This represents a dividend yield of 1.5%. Smith & Nephew’s dividend payout ratio is currently 27.72%.
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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