Short Interest in Smith & Nephew plc (NYSE:SNN) Drops By 14.3%
Smith & Nephew plc (NYSE:SNN) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 496,000 shares, a decline of 14.3% from the July 31st total of 578,900 shares. Based on an average daily trading volume, of 442,500 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.1% of the company’s shares are sold short.
Shares of NYSE:SNN traded down $0.36 during trading on Friday, reaching $46.66. 701,871 shares of the stock were exchanged, compared to its average volume of 523,881. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.96 and a current ratio of 2.00. Smith & Nephew has a 12-month low of $32.22 and a 12-month high of $48.68. The firm has a market cap of $20.57 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 3.27 and a beta of 0.26. The firm’s 50-day moving average price is $46.52 and its 200 day moving average price is $42.57.
Several research firms have commented on SNN. Zacks Investment Research upgraded Smith & Nephew from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Tuesday, July 2nd. Berenberg Bank upgraded Smith & Nephew from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Smith & Nephew has a consensus rating of “Buy” and a consensus price target of $27.50.
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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