Scharf Investments LLC Sells 268,928 Shares of Smith & Nephew plc (NYSE:SNN)

Scharf Investments LLC reduced its holdings in shares of Smith & Nephew plc (NYSE:SNN - Free Report) by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,631,524 shares of the medical equipment provider's stock after selling 268,928 shares during the quarter. Smith & Nephew makes up 1.9% of Scharf Investments LLC's investment portfolio, making the stock its 22nd biggest holding. Scharf Investments LLC owned about 0.60% of Smith & Nephew worth $64,683,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Smith & Nephew during the fourth quarter worth approximately $41,000. GAMMA Investing LLC boosted its holdings in Smith & Nephew by 160.0% in the third 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 last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Smith & Nephew by 74.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,025 shares of the medical equipment provider's stock worth $94,000 after buying an additional 1,290 shares during the last quarter. Blue Trust Inc. increased its position in shares of Smith & Nephew by 460.5% in the 3rd quarter. Blue Trust Inc. now owns 4,658 shares of the medical equipment provider's stock worth $145,000 after purchasing an additional 3,827 shares during the last quarter. Finally, Coerente Capital Management acquired a new stake in Smith & Nephew during the third quarter valued at approximately $202,000. Institutional investors and hedge funds own 25.64% of the company's stock.

Smith & Nephew Price Performance

Shares of NYSE:SNN traded up $0.44 during trading on Wednesday, hitting $26.18. 318,458 shares of the stock were exchanged, compared to its average volume of 794,424. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11. Smith & Nephew plc has a 1-year low of $23.65 and a 1-year high of $31.72. The company's fifty day simple moving average is $25.06 and its 200-day simple moving average is $27.60.

Analysts Set New Price Targets

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

Smith & Nephew Profile

Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT.