Smith & Nephew (NYSE:SNN) Shares Gap Up – Here’s Why

Shares of Smith & Nephew plc (NYSE:SNN) gapped up prior to trading on Tuesday . The stock had previously closed at $26.28, but opened at $27.82. Smith & Nephew shares last traded at $27.90, with a volume of 248,651 shares changing hands.

Analyst Ratings Changes

A number of brokerages have weighed in on SNN. Deutsche Bank Aktiengesellschaft lowered Smith & Nephew from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. StockNews.com downgraded Smith & Nephew from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Berenberg Bank lowered Smith & Nephew from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th.

Smith & Nephew Stock Performance

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 company’s 50 day moving average price is $25.06 and its 200-day moving average price is $27.23. The company has a market cap of $12.27 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.26 and a beta of 0.84.

Institutional Investors Weigh In On Smith & Nephew

Several large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Smith & Nephew during the 3rd quarter valued at approximately $792,000. Charles Schwab Investment Management Inc. grew its position in shares of Smith & Nephew by 29.3% in 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 in the last quarter. Stifel Financial Corp bought a new stake in shares of Smith & Nephew during the 3rd quarter valued at $1,258,000. Maverick Capital Ltd. purchased a new stake in Smith & Nephew during the 3rd quarter worth about $2,086,000. Finally, Blue Trust Inc. boosted its stake in Smith & Nephew by 26.0% in the 4th quarter. Blue Trust Inc. now owns 5,871 shares of the medical equipment provider’s stock worth $144,000 after purchasing an additional 1,213 shares during the period. Hedge funds and other institutional investors own 25.64% of the company’s stock.

About Smith & Nephew

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.