Smith & Nephew (NYSE:SNN) Sees Large Volume Increase – Still a Buy?

Smith & Nephew plc (NYSE:SNN) shares saw unusually-high trading volume on Friday . Approximately 796,808 shares were traded during trading, an increase of 18% from the previous session’s volume of 672,756 shares.The stock last traded at $24.39 and had previously closed at $24.40.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SNN shares. StockNews.com lowered Smith & Nephew from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Berenberg Bank cut Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research report on Friday, November 1st.

Smith & Nephew Stock Performance

The company has a current ratio of 2.51, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $10.67 billion, a P/E ratio of 12.45, a P/E/G ratio of 1.41 and a beta of 0.84. The firm has a 50-day moving average of $25.38 and a two-hundred day moving average of $27.78.

Hedge Funds Weigh In On Smith & Nephew

Several institutional investors have recently added to or reduced their stakes in SNN. International Assets Investment Management LLC purchased a new stake in Smith & Nephew during the third quarter valued at about $792,000. Sanctuary Advisors LLC bought a new stake in Smith & Nephew in the second quarter worth $627,000. Bank of Montreal Can grew its position in Smith & Nephew by 355.8% during the 2nd quarter. Bank of Montreal Can now owns 1,235,916 shares of the medical equipment provider’s stock worth $31,059,000 after acquiring an additional 964,762 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Smith & Nephew by 29.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 27,199 shares of the medical equipment provider’s stock valued at $847,000 after purchasing an additional 6,164 shares during the period. Finally, Stifel Financial Corp purchased a new position in shares of Smith & Nephew in the third quarter worth $1,258,000. 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.