Maverick Capital Ltd. Takes $2.09 Million Position in Smith & Nephew plc (NYSE:SNN)

Maverick Capital Ltd. acquired a new position in shares of Smith & Nephew plc (NYSE:SNN - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 66,985 shares of the medical equipment provider's stock, valued at approximately $2,086,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Argonautica Private Wealth Management Inc. increased its holdings in shares of Smith & Nephew by 6.3% during the second quarter. Argonautica Private Wealth Management Inc. now owns 10,244 shares of the medical equipment provider's stock worth $254,000 after buying an additional 605 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in Smith & Nephew by 6.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 9,659 shares of the medical equipment provider's stock worth $301,000 after acquiring an additional 626 shares during the last quarter. Inspire Advisors LLC increased its holdings in Smith & Nephew by 3.0% in the 2nd quarter. Inspire Advisors LLC now owns 22,286 shares of the medical equipment provider's stock worth $552,000 after purchasing an additional 639 shares in the last quarter. Townsquare Capital LLC raised its position in Smith & Nephew by 5.4% in the third quarter. Townsquare Capital LLC now owns 14,759 shares of the medical equipment provider's stock valued at $460,000 after purchasing an additional 761 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Smith & Nephew by 8.6% during the second quarter. Rhumbline Advisers now owns 10,365 shares of the medical equipment provider's stock valued at $257,000 after purchasing an additional 819 shares in the last quarter. 25.64% of the stock is currently owned by institutional investors.

Smith & Nephew Stock Performance

Shares of SNN stock traded up $0.07 on Friday, hitting $25.78. The company had a trading volume of 250,520 shares, compared to its average volume of 942,222. Smith & Nephew plc has a twelve month low of $23.65 and a twelve month high of $31.72. The company has a current ratio of 2.51, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. The stock's 50-day moving average is $27.58 and its two-hundred day moving average is $27.90.

Analyst Upgrades and Downgrades

SNN has been the subject of a number of research reports. StockNews.com lowered shares of Smith & Nephew from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 12th. Berenberg Bank cut shares of Smith & Nephew from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Smith & Nephew from a "buy" rating to a "hold" rating in a report on Friday, November 1st.

About Smith & Nephew

Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices and services in the United Kingdom and internationally. It operates through three segments: Orthopaedics, Sports Medicine & ENT, and Advanced Wound Management. The company offers knee implant products for knee replacement procedures; hip implants for revision procedures; trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures; and other reconstruction products.