Smith & Nephew plc (NYSE:SNN) Short Interest Down 25.0% in October

Smith & Nephew plc (NYSE:SNN - Get Free Report) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totalling 2,640,000 shares, a decline of 25.0% from the September 30th total of 3,520,000 shares. Based on an average daily trading volume, of 637,000 shares, the short-interest ratio is presently 4.1 days. Approximately 0.6% of the shares of the stock are short sold.

Smith & Nephew Price Performance

Shares of NYSE SNN traded down $1.13 during trading on Friday, reaching $28.37. The company had a trading volume of 1,138,975 shares, compared to its average volume of 853,166. Smith & Nephew has a 52 week low of $21.52 and a 52 week high of $31.72. The stock has a market cap of $12.40 billion, a PE ratio of 13.77, a PEG ratio of 1.29 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 2.51. The business's 50 day moving average price is $30.30 and its 200-day moving average price is $27.72.

Hedge Funds Weigh In On Smith & Nephew

A number of institutional investors have recently modified their holdings of the stock. Argonautica Private Wealth Management Inc. raised its stake in shares of Smith & Nephew by 6.3% in the second quarter. Argonautica Private Wealth Management Inc. now owns 10,244 shares of the medical equipment provider's stock worth $254,000 after acquiring an additional 605 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in shares of Smith & Nephew by 6.9% during the third quarter. First Trust Direct Indexing L.P. now owns 9,659 shares of the medical equipment provider's stock worth $301,000 after buying an additional 626 shares during the last quarter. Inspire Advisors LLC raised its stake in shares of Smith & Nephew by 3.0% during the second quarter. Inspire Advisors LLC now owns 22,286 shares of the medical equipment provider's stock worth $552,000 after buying an additional 639 shares during the last quarter. Rhumbline Advisers raised 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 worth $257,000 after buying an additional 819 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC raised its stake in shares of Smith & Nephew by 6.0% during the first quarter. Legacy Wealth Asset Management LLC now owns 16,022 shares of the medical equipment provider's stock worth $406,000 after buying an additional 903 shares during the last quarter. 25.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Smith & Nephew in a research report on Wednesday, July 24th. They issued a "buy" rating on the stock. StockNews.com upgraded shares of Smith & Nephew from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy".

Smith & Nephew Company Profile

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.