Short Interest in Smith & Nephew plc (NYSE:SNN) Declines By 17.5%

Smith & Nephew plc (NYSE:SNN) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 1,980,000 shares, a decline of 17.5% from the March 15th total of 2,400,000 shares. Based on an average daily trading volume, of 972,300 shares, the days-to-cover ratio is presently 2.0 days. Currently, 0.5% of the company’s stock are short sold.

Smith & Nephew Price Performance

SNN opened at $23.77 on Monday. Smith & Nephew has a 1-year low of $21.52 and a 1-year high of $33.08. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.77 and a quick ratio of 0.72. The business has a 50 day moving average of $26.75 and a 200-day moving average of $25.99.

Smith & Nephew Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, April 2nd will be given a $0.462 dividend. The ex-dividend date is Monday, April 1st. This represents a dividend yield of 2.8%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bessemer Group Inc. raised its stake in shares of Smith & Nephew by 397.3% in the fourth quarter. Bessemer Group Inc. now owns 920 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 735 shares in the last quarter. Garner Asset Management Corp acquired a new position in shares of Smith & Nephew in the fourth quarter valued at $26,000. CWM LLC raised its stake in shares of Smith & Nephew by 68.6% in the fourth quarter. CWM LLC now owns 954 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 388 shares in the last quarter. Spire Wealth Management raised its stake in shares of Smith & Nephew by 224.3% in the fourth quarter. Spire Wealth Management now owns 1,015 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 702 shares in the last quarter. Finally, Allworth Financial LP raised its stake in shares of Smith & Nephew by 1,566.2% in the third quarter. Allworth Financial LP now owns 1,133 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 1,065 shares in the last quarter. 25.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 15th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

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.