Smith & Nephew plc (NYSE:SNN) Shares Sold by Equity Investment Corp

Equity Investment Corp cut its holdings in shares of Smith & Nephew plc (NYSE:SNN) by 26.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,999 shares of the medical equipment provider’s stock after selling 3,922 shares during the period. Equity Investment Corp’s holdings in Smith & Nephew were worth $343,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of Smith & Nephew during the third quarter valued at about $792,000. Lorne Steinberg Wealth Management Inc. grew its stake in Smith & Nephew by 53.6% in the second quarter. Lorne Steinberg Wealth Management Inc. now owns 231,045 shares of the medical equipment provider’s stock worth $5,725,000 after purchasing an additional 80,650 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Smith & Nephew in the first quarter worth about $2,612,000. Sanctuary Advisors LLC acquired a new position in Smith & Nephew in the second quarter worth about $627,000. Finally, Bank of Montreal Can grew its stake in Smith & Nephew by 355.8% in the second quarter. Bank of Montreal Can now owns 1,235,916 shares of the medical equipment provider’s stock worth $31,059,000 after purchasing an additional 964,762 shares in the last quarter. 25.64% of the stock is currently owned by institutional investors and hedge funds.

Smith & Nephew Stock Up 1.0 %

Shares of SNN stock opened at $24.89 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 2.51. The business has a 50 day moving average of $28.74 and a two-hundred day moving average of $27.88. Smith & Nephew plc has a 52 week low of $23.65 and a 52 week high of $31.72.

Analysts Set New Price Targets

SNN has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft downgraded Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Berenberg Bank downgraded Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, StockNews.com downgraded Smith & Nephew from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold”.

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.