CIBC World Markets Inc. Decreases Stock Holdings in Smith & Nephew plc (NYSE:SNN)

CIBC World Markets Inc. cut its stake in Smith & Nephew plc (NYSE:SNN) by 26.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,944 shares of the medical equipment provider’s stock after selling 6,359 shares during the quarter. CIBC World Markets Inc.’s holdings in Smith & Nephew were worth $720,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SNN. Pinnacle Bank purchased a new position in Smith & Nephew in the 4th quarter worth approximately $31,000. O Shaughnessy Asset Management LLC purchased a new position in Smith & Nephew in the 4th quarter worth approximately $42,000. Liberty Wealth Management LLC purchased a new position in Smith & Nephew in the 4th quarter worth approximately $46,000. Enlightenment Research LLC purchased a new position in Smith & Nephew in the 4th quarter worth approximately $52,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in Smith & Nephew in the 4th quarter worth approximately $52,000. 8.69% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on SNN. Zacks Investment Research lowered shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Saturday. Canaccord Genuity restated a “buy” rating and set a $6.00 price target on shares of Smith & Nephew in a report on Friday, May 3rd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.50.

Shares of NYSE SNN traded up $0.38 during midday trading on Friday, reaching $43.54. 436,797 shares of the stock were exchanged, compared to its average volume of 394,998. The firm has a 50 day moving average of $42.71. The stock has a market cap of $19.04 billion, a PE ratio of 21.55, a P/E/G ratio of 3.18 and a beta of 0.28. The company has a quick ratio of 1.15, a current ratio of 2.10 and a debt-to-equity ratio of 0.27. Smith & Nephew plc has a twelve month low of $32.22 and a twelve month high of $44.07.

Smith & Nephew Profile

Smith & Nephew plc develops, manufactures, and sells medical devices worldwide. The company offers sports medicine joint repair products for surgeons, including an array of instruments, technologies, and implants necessary to perform minimally invasive surgery of the joints, such as the repair of soft tissue injuries and degenerative conditions of the knee, hip, and shoulder.

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Institutional Ownership by Quarter for Smith & Nephew (NYSE:SNN)

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