Kornitzer Capital Management Inc. KS Reduces Holdings in Smith & Nephew plc (NYSE:SNN)

Kornitzer Capital Management Inc. KS trimmed its stake in Smith & Nephew plc (NYSE:SNN) by 49.5% in the 4th quarter, HoldingsChannel reports. The firm owned 154,254 shares of the medical equipment provider’s stock after selling 151,355 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Smith & Nephew were worth $3,792,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. River Road Asset Management LLC purchased a new stake in shares of Smith & Nephew in the 3rd quarter worth about $38,588,000. Point72 DIFC Ltd bought a new position in shares of Smith & Nephew in the 3rd quarter worth about $7,200,000. ABC Arbitrage SA bought a new position in shares of Smith & Nephew in the 4th quarter worth about $4,847,000. State Street Corp increased its stake in shares of Smith & Nephew by 1.3% in the 3rd quarter. State Street Corp now owns 143,846 shares of the medical equipment provider’s stock worth $4,479,000 after acquiring an additional 1,889 shares in the last quarter. Finally, Raymond James & Associates increased its stake in shares of Smith & Nephew by 172.1% in the 3rd quarter. Raymond James & Associates now owns 128,854 shares of the medical equipment provider’s stock worth $4,013,000 after acquiring an additional 81,500 shares in the last quarter. 25.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Smith & Nephew Stock Up 1.0 %

NYSE:SNN opened at $25.95 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 2.51. Smith & Nephew plc has a fifty-two week low of $23.65 and a fifty-two week high of $31.72. The firm has a 50-day simple moving average of $25.02 and a two-hundred day simple moving average of $27.37.

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.