Scharf Investments LLC Purchases 15,930 Shares of Smith & Nephew plc (NYSE:SNN)

Scharf Investments LLC lifted its holdings in Smith & Nephew plc (NYSE:SNN) by 0.5% during the first quarter, HoldingsChannel reports. The firm owned 2,996,264 shares of the medical equipment provider’s stock after purchasing an additional 15,930 shares during the period. Smith & Nephew comprises 2.1% of Scharf Investments LLC’s investment portfolio, making the stock its 21st biggest position. Scharf Investments LLC’s holdings in Smith & Nephew were worth $75,985,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Nomura Holdings Inc. bought a new position in Smith & Nephew in the 4th quarter worth approximately $887,000. Clark Estates Inc. NY raised its stake in 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 valued at $17,732,000 after purchasing an additional 100,000 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Smith & Nephew by 20.9% in the 4th 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. PNC Financial Services Group Inc. grew its position in Smith & Nephew by 17.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 36,315 shares of the medical equipment provider’s stock worth $900,000 after purchasing an additional 5,384 shares during the last quarter. Finally, Seed Wealth Management Inc. bought a new position in shares of Smith & Nephew during the 4th quarter worth about $213,000. Institutional investors own 25.64% of the company’s stock.

Smith & Nephew Stock Down 0.2 %

Shares of Smith & Nephew stock traded down $0.06 during trading on Thursday, hitting $24.75. 472,050 shares of the company’s stock traded hands, compared to its average volume of 934,452. The firm’s fifty day moving average price is $25.14 and its 200 day moving average price is $26.29. Smith & Nephew plc has a twelve month low of $21.52 and a twelve month high of $32.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.77 and a quick ratio of 0.72.

Analyst Ratings Changes

Several research firms recently weighed in on SNN. StockNews.com cut shares of Smith & Nephew from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 13th. UBS Group upgraded Smith & Nephew from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

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.