abrdn plc Lowers Holdings in Smith & Nephew plc (NYSE:SNN)

abrdn plc decreased its position in shares of Smith & Nephew plc (NYSE:SNN - Free Report) by 22.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,208 shares of the medical equipment provider's stock after selling 40,502 shares during the quarter. abrdn plc's holdings in Smith & Nephew were worth $4,397,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mather Group LLC. lifted its holdings in shares of Smith & Nephew by 9,735.3% during the 2nd quarter. Mather Group LLC. now owns 1,672 shares of the medical equipment provider's stock valued at $42,000 after buying an additional 1,655 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Smith & Nephew by 1,894.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,735 shares of the medical equipment provider's stock valued at $43,000 after acquiring an additional 1,648 shares during the period. EverSource Wealth Advisors LLC boosted its position in Smith & Nephew by 92.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,454 shares of the medical equipment provider's stock worth $61,000 after purchasing an additional 1,179 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Smith & Nephew by 160.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,257 shares of the medical equipment provider's stock valued at $70,000 after purchasing an additional 1,389 shares during the period. Finally, Headlands Technologies LLC increased its position in shares of Smith & Nephew by 225.0% during the 1st quarter. Headlands Technologies LLC now owns 3,851 shares of the medical equipment provider's stock valued at $98,000 after purchasing an additional 2,666 shares during the last quarter. Institutional investors own 25.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SNN. Deutsche Bank Aktiengesellschaft downgraded shares of Smith & Nephew from a "buy" rating to a "hold" rating in a report on Friday. StockNews.com raised shares of Smith & Nephew from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 5th.

Smith & Nephew Stock Performance

Smith & Nephew stock traded up $0.04 during midday trading on Monday, hitting $25.28. The stock had a trading volume of 692,459 shares, compared to its average volume of 862,662. The company has a market capitalization of $11.05 billion, a PE ratio of 12.68, a P/E/G ratio of 1.10 and a beta of 0.85. Smith & Nephew plc has a 52-week low of $23.65 and a 52-week high of $31.72. The firm's fifty day moving average is $29.98 and its two-hundred day moving average is $27.84. The company has a current ratio of 2.51, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63.

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.