Wealth Enhancement Advisory Services LLC Takes Position in Smith & Nephew plc (NYSE:SNN)

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Smith & Nephew plc (NYSE:SNN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,883 shares of the medical equipment provider’s stock, valued at approximately $857,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. J. Goldman & Co LP bought a new position in shares of Smith & Nephew during the 4th quarter valued at about $47,700,000. River Road Asset Management LLC increased its position in shares of Smith & Nephew by 64.0% during the 4th quarter. River Road Asset Management LLC now owns 2,032,016 shares of the medical equipment provider’s stock worth $49,947,000 after purchasing an additional 792,829 shares during the last quarter. Causeway Capital Management LLC acquired a new position in shares of Smith & Nephew during the 4th quarter worth approximately $11,820,000. Northern Trust Corp increased its holdings in shares of Smith & Nephew by 169.9% during the 4th quarter. Northern Trust Corp now owns 508,392 shares of the medical equipment provider’s stock worth $12,496,000 after acquiring an additional 320,054 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Smith & Nephew during the 4th quarter worth approximately $6,132,000. Institutional investors own 25.64% of the company’s stock.

Smith & Nephew Stock Down 1.3%

Shares of NYSE:SNN opened at $29.87 on Tuesday. Smith & Nephew plc has a 52-week low of $23.69 and a 52-week high of $31.72. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 2.51. The business’s 50 day simple moving average is $27.65 and its two-hundred day simple moving average is $26.73. The firm has a market cap of $13.08 billion, a P/E ratio of 13.83, a PEG ratio of 1.26 and a beta of 0.68.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Canaccord Genuity Group boosted their price target on Smith & Nephew from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Wall Street Zen raised Smith & Nephew from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 26th. Hsbc Global Res cut Smith & Nephew from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. HSBC cut Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Friday, April 25th. Finally, UBS Group lowered Smith & Nephew from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 12th. Six analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Smith & Nephew has a consensus rating of “Hold” and an average price target of $28.00.

About Smith & Nephew

Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT.