Short Interest in Smith & Nephew plc (NYSE:SNN) Decreases By 8.2%

Smith & Nephew plc (NYSE:SNN) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 906,000 shares, a decrease of 8.2% from the September 30th total of 987,200 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 666,100 shares, the days-to-cover ratio is currently 1.4 days.

SNN has been the topic of several research analyst reports. Zacks Investment Research raised Smith & Nephew from a “sell” rating to a “hold” rating in a research report on Saturday, November 2nd. Sanford C. Bernstein initiated coverage on Smith & Nephew in a research report on Tuesday, November 12th. They issued an “outperform” rating on the stock. ValuEngine downgraded Smith & Nephew from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Berenberg Bank raised Smith & Nephew from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Smith & Nephew currently has an average rating of “Hold” and an average target price of $27.50.

Institutional investors and hedge funds have recently bought and sold shares of the company. Boston Common Asset Management LLC raised its stake in Smith & Nephew by 7.1% in the second quarter. Boston Common Asset Management LLC now owns 20,425 shares of the medical equipment provider’s stock valued at $889,000 after buying an additional 1,361 shares during the last quarter. Foresters Investment Management Company Inc. lifted its position in Smith & Nephew by 1.5% during the second quarter. Foresters Investment Management Company Inc. now owns 857,050 shares of the medical equipment provider’s stock worth $37,316,000 after buying an additional 12,550 shares in the last quarter. SG Americas Securities LLC lifted its position in Smith & Nephew by 354.0% during the second quarter. SG Americas Securities LLC now owns 42,131 shares of the medical equipment provider’s stock worth $1,834,000 after buying an additional 32,852 shares in the last quarter. Bank of Montreal Can lifted its position in Smith & Nephew by 1.7% during the second quarter. Bank of Montreal Can now owns 19,680 shares of the medical equipment provider’s stock worth $856,000 after buying an additional 328 shares in the last quarter. Finally, Advisor Partners LLC lifted its position in Smith & Nephew by 20.3% during the third quarter. Advisor Partners LLC now owns 6,494 shares of the medical equipment provider’s stock worth $313,000 after buying an additional 1,097 shares in the last quarter. 9.08% of the stock is currently owned by institutional investors and hedge funds.

Shares of SNN traded up $0.26 during midday trading on Monday, reaching $43.47. 18,697 shares of the stock were exchanged, compared to its average volume of 952,831. Smith & Nephew has a 52 week low of $35.39 and a 52 week high of $48.93. The company has a current ratio of 2.00, a quick ratio of 0.96 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $45.21 and its two-hundred day moving average is $44.56. The company has a market capitalization of $19.02 billion, a P/E ratio of 21.52, a PEG ratio of 3.84 and a beta of 0.23.

The company also recently declared a — dividend, which was paid on Wednesday, October 30th. Stockholders of record on Friday, October 4th were given a dividend of $0.288 per share. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, October 3rd. Smith & Nephew’s payout ratio is 27.72%.

About Smith & Nephew

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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