Smith & Nephew plc (NYSE:SNN) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 1,230,000 shares, a growth of 33.3% from the June 15th total of 922,600 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 712,300 shares, the short-interest ratio is presently 1.7 days.

Several large investors have recently modified their holdings of the business. Royal Bank of Canada grew its holdings in shares of Smith & Nephew by 101.6% during the 1st quarter. Royal Bank of Canada now owns 720,405 shares of the medical equipment provider’s stock valued at $25,841,000 after acquiring an additional 363,007 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in Smith & Nephew by 39.2% during the first quarter. Coldstream Capital Management Inc. now owns 11,855 shares of the medical equipment provider’s stock valued at $425,000 after purchasing an additional 3,340 shares during the last quarter. Morgan Stanley grew its stake in Smith & Nephew by 111.4% in the first quarter. Morgan Stanley now owns 237,551 shares of the medical equipment provider’s stock valued at $8,520,000 after purchasing an additional 125,182 shares in the last quarter. FDx Advisors Inc. increased its position in Smith & Nephew by 18.7% in the 1st quarter. FDx Advisors Inc. now owns 30,102 shares of the medical equipment provider’s stock worth $1,080,000 after purchasing an additional 4,735 shares during the last quarter. Finally, Equitable Trust Co. lifted its holdings in shares of Smith & Nephew by 57.6% during the 1st quarter. Equitable Trust Co. now owns 128,969 shares of the medical equipment provider’s stock valued at $4,626,000 after buying an additional 47,123 shares during the last quarter. 9.45% of the stock is owned by institutional investors.

SNN traded down $0.42 on Tuesday, reaching $39.44. 598,500 shares of the company traded hands, compared to its average volume of 779,236. The company has a market cap of $17.26 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 6.35 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.06 and a quick ratio of 1.03. The stock’s 50 day moving average price is $40.67 and its 200-day moving average price is $42.47. Smith & Nephew has a 52-week low of $26.07 and a 52-week high of $52.26.

Several equities research analysts recently issued reports on SNN shares. Morgan Stanley raised shares of Smith & Nephew from an “equal weight” rating to an “overweight” rating in a research note on Thursday, June 4th. Citigroup downgraded Smith & Nephew from a “buy” rating to a “neutral” rating in a report on Tuesday, April 14th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Smith & Nephew in a research note on Thursday, May 7th. Cfra dropped their price target on Smith & Nephew from $52.00 to $42.00 and set a “hold” rating on the stock in a research report on Thursday, May 7th. Finally, Exane BNP Paribas downgraded shares of Smith & Nephew from a “neutral” rating to an “underperform” rating in a report on Friday, June 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.00.

Smith & Nephew Company Profile

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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