Comerica Bank increased its stake in shares of Smith & Nephew plc (NYSE:SNN) by 15.3% during the third quarter, HoldingsChannel.com reports. The fund owned 33,674 shares of the medical equipment provider’s stock after acquiring an additional 4,472 shares during the quarter. Comerica Bank’s holdings in Smith & Nephew were worth $1,134,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Checchi Capital Advisers LLC bought a new position in Smith & Nephew during the second quarter worth $204,000. Capital Fund Management S.A. bought a new position in Smith & Nephew during the second quarter worth $210,000. Avestar Capital LLC increased its position in Smith & Nephew by 25.8% during the third quarter. Avestar Capital LLC now owns 7,910 shares of the medical equipment provider’s stock worth $276,000 after acquiring an additional 1,623 shares during the period. Alps Advisors Inc. bought a new position in Smith & Nephew during the second quarter worth $302,000. Finally, SG Americas Securities LLC bought a new position in Smith & Nephew during the second quarter worth $372,000. 9.03% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on SNN shares. Zacks Investment Research lowered shares of Smith & Nephew from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Canaccord Genuity reissued a “buy” rating on shares of Smith & Nephew in a report on Thursday, November 1st. HSBC lowered shares of Smith & Nephew from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Finally, Deutsche Bank raised shares of Smith & Nephew from a “sell” rating to a “hold” rating in a report on Friday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Smith & Nephew currently has a consensus rating of “Hold” and an average price target of $42.00.
Shares of Smith & Nephew stock opened at $37.93 on Friday. The firm has a market capitalization of $16.23 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 3.01 and a beta of 0.60. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.05 and a current ratio of 2.13. Smith & Nephew plc has a 52-week low of $32.22 and a 52-week high of $39.85.
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Smith & Nephew Profile
Smith & Nephew plc designs, develops, 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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