Smith & Nephew SNATS, Inc. (NYSE:SNN) Sees Significant Growth in Short Interest

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

Smith & Nephew SNATS Stock Down 0.5%

NYSE:SNN traded down $0.18 during mid-day trading on Monday, hitting $32.71. 1,287,778 shares of the company’s stock traded hands, compared to its average volume of 764,691. The firm has a 50 day moving average of $32.97 and a two-hundred day moving average of $34.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.00 and a quick ratio of 1.40. Smith & Nephew SNATS has a 12 month low of $23.91 and a 12 month high of $38.79.

Hedge Funds Weigh In On Smith & Nephew SNATS

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

Analyst Upgrades and Downgrades

SNN has been the topic of several research reports. Royal Bank Of Canada lowered Smith & Nephew SNATS from an “outperform” rating to a “sector perform” rating in a research report on Monday, December 15th. Canaccord Genuity Group decreased 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 research report on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Smith & Nephew SNATS in a report on Wednesday, October 8th. Wall Street Zen upgraded Smith & Nephew SNATS from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. Finally, Sanford C. Bernstein set a $37.50 price objective on Smith & Nephew SNATS and gave the company a “market perform” rating in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.75.

Smith & Nephew SNATS Company Profile

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.