Shares of Smith & Nephew plc (NYSE:SNN – Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $25.13, but opened at $27.18. Smith & Nephew shares last traded at $27.15, with a volume of 15,362 shares traded.
Analysts Set New Price Targets
Several research analysts have commented on SNN shares. StockNews.com cut shares of Smith & Nephew from a “strong-buy” rating to a “buy” rating in a report on Monday, May 13th. UBS Group raised Smith & Nephew from a “neutral” rating to a “buy” rating in a report on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Smith & Nephew currently has an average rating of “Moderate Buy”.
Check Out Our Latest Stock Report on Smith & Nephew
Smith & Nephew Stock Performance
Institutional Trading of Smith & Nephew
Several hedge funds and other institutional investors have recently made changes to their positions in SNN. Nomura Holdings Inc. acquired a new position in Smith & Nephew during the 4th quarter worth approximately $887,000. Clark Estates Inc. NY boosted its position in shares of Smith & Nephew by 18.2% during the 4th quarter. Clark Estates Inc. NY now owns 650,000 shares of the medical equipment provider’s stock worth $17,732,000 after purchasing an additional 100,000 shares in the last quarter. Scharf Investments LLC grew its stake in shares of Smith & Nephew by 20.5% during the 4th quarter. Scharf Investments LLC now owns 2,980,334 shares of the medical equipment provider’s stock worth $81,304,000 after purchasing an additional 506,474 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Smith & Nephew by 20.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,003,050 shares of the medical equipment provider’s stock valued at $27,363,000 after purchasing an additional 173,448 shares during the period. Finally, Seed Wealth Management Inc. acquired a new position in Smith & Nephew during the fourth quarter worth about $213,000. Hedge funds and other institutional investors own 25.64% of the company’s stock.
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.
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