Short Interest in Smith & Nephew SNATS, Inc. (NYSE:SNN) Expands By 22.7%

Smith & Nephew SNATS, Inc. (NYSE:SNN) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 3,080,996 shares, a growth of 22.7% from the December 15th total of 2,510,783 shares. Based on an average daily volume of 450,545 shares, the days-to-cover ratio is presently 6.8 days. Approximately 0.7% of the shares of the stock are sold short. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 450,545 shares, the days-to-cover ratio is presently 6.8 days.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SNN. Royal Bank of Canada raised its holdings in shares of Smith & Nephew SNATS by 16.7% in the first quarter. Royal Bank of Canada now owns 340,428 shares of the medical equipment provider’s stock worth $9,657,000 after buying an additional 48,784 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Smith & Nephew SNATS by 49.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,771,401 shares of the medical equipment provider’s stock valued at $50,255,000 after acquiring an additional 583,809 shares during the period. Focus Partners Wealth grew its position in Smith & Nephew SNATS by 59.8% in the 1st quarter. Focus Partners Wealth now owns 19,438 shares of the medical equipment provider’s stock valued at $552,000 after acquiring an additional 7,277 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Smith & Nephew SNATS by 4.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,077 shares of the medical equipment provider’s stock worth $1,092,000 after purchasing an additional 1,512 shares during the period. Finally, Park Avenue Securities LLC lifted its position in shares of Smith & Nephew SNATS by 6.3% during the second quarter. Park Avenue Securities LLC now owns 9,789 shares of the medical equipment provider’s stock worth $300,000 after purchasing an additional 583 shares during the last quarter. Hedge funds and other institutional investors own 25.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen upgraded Smith & Nephew SNATS from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. Canaccord Genuity Group cut their target price on shares of Smith & Nephew SNATS from $36.00 to $34.00 and set a “hold” rating for the company in a report on Tuesday, November 11th. Royal Bank Of Canada cut shares of Smith & Nephew SNATS from an “outperform” rating to a “sector perform” rating in a research report on Monday, December 15th. Kepler Capital Markets upgraded shares of Smith & Nephew SNATS to a “strong-buy” rating in a research report on Monday, November 17th. Finally, Sanford C. Bernstein set a $37.50 price objective on shares of Smith & Nephew SNATS and gave the stock a “market perform” rating in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Smith & Nephew SNATS presently has an average rating of “Hold” and an average target price of $35.75.

Smith & Nephew SNATS Trading Down 1.7%

SNN stock opened at $32.14 on Wednesday. Smith & Nephew SNATS has a twelve month low of $23.91 and a twelve month high of $38.79. The company has a current ratio of 3.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60. The firm’s fifty day simple moving average is $32.93 and its two-hundred day simple moving average is $34.34.

About Smith & Nephew SNATS

Smith & Nephew plc is a global medical technology company specializing in the design, development and manufacture of advanced surgical devices, orthopaedic reconstruction implants, trauma and extremities products, sports medicine solutions and wound care therapies. Founded in 1856 in Hull, United Kingdom, the company has grown through both organic innovation and strategic acquisitions to offer a broad portfolio that addresses patient needs across joint replacement, minimally invasive surgery and wound healing.

In its orthopaedics business, Smith & Nephew provides hip and knee replacement systems, modular joint revision implants and biologic solutions for bone repair.