Smith & Nephew (NYSE:SNN) Sees Large Volume Increase - Should You Buy?

Smith & Nephew plc (NYSE:SNN - Get Free Report) saw unusually-high trading volume on Friday . Approximately 2,453,133 shares changed hands during mid-day trading, an increase of 185% from the previous session's volume of 861,303 shares.The stock last traded at $24.75 and had previously closed at $24.79.

Analyst Ratings Changes

Several research firms recently issued reports on SNN. Berenberg Bank cut Smith & Nephew from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft cut Smith & Nephew from a "buy" rating to a "hold" rating in a research note on Friday, November 1st. Finally, StockNews.com cut Smith & Nephew from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, November 12th.

Smith & Nephew Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11. The business's 50 day moving average price is $26.21 and its 200 day moving average price is $27.87. The stock has a market capitalization of $10.78 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 1.41 and a beta of 0.84.

Hedge Funds Weigh In On Smith & Nephew

A number of institutional investors and hedge funds have recently modified their holdings of SNN. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 worth $43,000 after buying an additional 1,648 shares during the last quarter. Argonautica Private Wealth Management Inc. boosted its stake in shares of Smith & Nephew by 6.3% during the 2nd 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. Signaturefd LLC grew its position in shares of Smith & Nephew by 48.9% during the 2nd quarter. Signaturefd LLC now owns 12,735 shares of the medical equipment provider's stock valued at $316,000 after acquiring an additional 4,181 shares during the period. Hantz Financial Services Inc. purchased a new stake in shares of Smith & Nephew in the 2nd quarter worth $1,549,000. Finally, Natixis Advisors LLC increased its stake in shares of Smith & Nephew by 12.0% in the 2nd quarter. Natixis Advisors LLC now owns 78,668 shares of the medical equipment provider's stock worth $1,949,000 after purchasing an additional 8,420 shares in the last quarter. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

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.