Smith & Nephew (NYSE:SNN) Shares Gap Down - What's Next?

Shares of Smith & Nephew plc (NYSE:SNN - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $29.50, but opened at $28.27. Smith & Nephew shares last traded at $28.20, with a volume of 372,680 shares.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SNN shares. StockNews.com raised shares of Smith & Nephew from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Smith & Nephew in a report on Wednesday, July 24th. They set a "buy" rating for the company. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Smith & Nephew has an average rating of "Buy".

Smith & Nephew Price Performance

The business has a fifty day simple moving average of $30.34 and a 200 day simple moving average of $27.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11.

Institutional Trading of Smith & Nephew

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNN. BKM Wealth Management LLC boosted its stake in shares of Smith & Nephew by 183.3% in the 3rd quarter. BKM Wealth Management LLC now owns 20,057 shares of the medical equipment provider's stock valued at $625,000 after purchasing an additional 12,978 shares during the last quarter. Coerente Capital Management purchased a new position in Smith & Nephew during the third quarter valued at $202,000. Pinnacle West Asset Management Inc. purchased a new position in shares of Smith & Nephew during the third quarter worth approximately $251,000. International Assets Investment Management LLC purchased a new position in shares of Smith & Nephew in the third quarter worth $792,000. Finally, Greenleaf Trust acquired a new stake in Smith & Nephew in the 3rd quarter valued at $240,000. 25.64% of the stock is currently owned by institutional investors and hedge funds.

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.