Smith & Nephew plc (NYSE:SNN) Short Interest Down 15.0% in April

Smith & Nephew plc (NYSE:SNNGet Rating) was the target of a large decline in short interest in the month of April. As of April 30th, there was short interest totalling 810,800 shares, a decline of 15.0% from the April 15th total of 953,500 shares. Based on an average daily volume of 911,000 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.2% of the company’s shares are short sold.

SNN has been the subject of a number of recent research reports. UBS Group lifted their price target on shares of Smith & Nephew from GBX 1,200 ($14.79) to GBX 1,295 ($15.96) in a research report on Friday, April 29th. JPMorgan Chase & Co. increased their price objective on shares of Smith & Nephew from GBX 1,376 ($16.96) to GBX 1,442 ($17.78) in a research report on Wednesday, March 2nd. Royal Bank of Canada began coverage on shares of Smith & Nephew in a research note on Tuesday, March 15th. They issued an “outperform” rating on the stock. StockNews.com lowered Smith & Nephew from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 12th. Finally, Zacks Investment Research downgraded shares of Smith & Nephew from a “hold” rating to a “sell” rating in a report on Saturday, May 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $928.33.

Shares of NYSE SNN opened at $32.30 on Wednesday. The firm has a 50-day simple moving average of $32.07 and a two-hundred day simple moving average of $33.33. Smith & Nephew has a 1 year low of $29.40 and a 1 year high of $44.47. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.08 and a quick ratio of 1.21.

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, May 11th. Shareholders of record on Friday, April 1st were given a $0.288 dividend. The ex-dividend date was Thursday, March 31st. This represents a yield of 2.3%.

Hedge funds have recently modified their holdings of the business. FMR LLC boosted its position in Smith & Nephew by 640.8% during the 1st quarter. FMR LLC now owns 1,341,034 shares of the medical equipment provider’s stock valued at $53,788,000 after acquiring an additional 1,160,015 shares in the last quarter. OLD Mission Capital LLC purchased a new stake in shares of Smith & Nephew during the third quarter valued at $2,912,000. Deutsche Bank AG purchased a new stake in Smith & Nephew during the 3rd quarter valued at about $714,000. Advisor Group Holdings Inc. lifted its holdings in shares of Smith & Nephew by 5.4% during the third quarter. Advisor Group Holdings Inc. now owns 28,817 shares of the medical equipment provider’s stock worth $990,000 after purchasing an additional 1,487 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Smith & Nephew by 122.1% in the 3rd quarter. Barclays PLC now owns 54,485 shares of the medical equipment provider’s stock valued at $1,871,000 after acquiring an additional 29,953 shares during the last quarter. Institutional investors and hedge funds own 26.03% of the company’s stock.

About Smith & Nephew (Get Rating)

Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices worldwide. The company offers knee implant products for knee replacement procedures; hip implants for the reconstruction of hip joints; and trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures.

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