Smith & Nephew plc (NYSE:SNN) Sees Significant Drop in Short Interest

Smith & Nephew plc (NYSE:SNN) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 1,150,000 shares, a drop of 28.1% from the February 28th total of 1,600,000 shares. Based on an average daily volume of 819,500 shares, the short-interest ratio is presently 1.4 days. Currently, 0.3% of the shares of the company are short sold.

Analyst Ratings Changes

Several research firms recently issued reports on SNN. StockNews.com upgraded Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 26th. Canaccord Genuity Group reissued a “hold” rating and issued a $27.00 target price on shares of Smith & Nephew in a research report on Monday, March 17th. Finally, UBS Group lowered shares of Smith & Nephew from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.00.

Smith & Nephew Price Performance

Smith & Nephew stock traded down $0.39 during mid-day trading on Friday, reaching $28.03. 775,052 shares of the company were exchanged, compared to its average volume of 815,770. The company has a fifty day simple moving average of $27.13 and a 200-day simple moving average of $26.96. The firm has a market cap of $12.25 billion, a PE ratio of 12.97, a PEG ratio of 1.26 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11. Smith & Nephew has a 12 month low of $23.65 and a 12 month high of $31.72.

Smith & Nephew Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, March 28th will be paid a $0.447 dividend. This represents a yield of 2.5%. The ex-dividend date is Friday, March 28th. This is an increase from Smith & Nephew’s previous semi-annual dividend of $0.29. Smith & Nephew’s payout ratio is 41.20%.

Institutional Investors Weigh In On Smith & Nephew

Institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Smith & Nephew by 29.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,199 shares of the medical equipment provider’s stock valued at $847,000 after buying an additional 6,164 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of Smith & Nephew during the 3rd quarter worth $1,258,000. Maverick Capital Ltd. bought a new stake in shares of Smith & Nephew during the 3rd quarter worth $2,086,000. Blue Trust Inc. lifted its position in shares of Smith & Nephew by 26.0% during the 4th quarter. Blue Trust Inc. now owns 5,871 shares of the medical equipment provider’s stock worth $144,000 after buying an additional 1,213 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Smith & Nephew by 31.8% during the fourth quarter. GAMMA Investing LLC now owns 2,975 shares of the medical equipment provider’s stock worth $73,000 after acquiring an additional 718 shares in the last quarter. Institutional investors own 25.64% of the company’s stock.

Smith & Nephew Company Profile

Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT.