Pinnacle West Asset Management Inc. Purchases 1,100 Shares of Smith & Nephew plc (NYSE:SNN)

Pinnacle West Asset Management Inc. raised its position in shares of Smith & Nephew plc (NYSE:SNN) by 13.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,175 shares of the medical equipment provider’s stock after purchasing an additional 1,100 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in Smith & Nephew were worth $226,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Bleakley Financial Group LLC grew its stake in shares of Smith & Nephew by 3.5% during the 4th quarter. Bleakley Financial Group LLC now owns 17,704 shares of the medical equipment provider’s stock valued at $435,000 after purchasing an additional 596 shares during the period. First Trust Direct Indexing L.P. grew its stake in shares of Smith & Nephew by 6.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 9,659 shares of the medical equipment provider’s stock valued at $301,000 after acquiring an additional 626 shares during the period. Principal Securities Inc. grew its stake in shares of Smith & Nephew by 87.6% during the 4th quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 691 shares during the period. GAMMA Investing LLC grew its stake in shares of Smith & Nephew by 31.8% during the 4th quarter. GAMMA Investing LLC now owns 2,975 shares of the medical equipment provider’s stock valued at $73,000 after acquiring an additional 718 shares during the period. Finally, Townsquare Capital LLC grew its stake in shares of Smith & Nephew by 5.4% during the 3rd quarter. Townsquare Capital LLC now owns 14,759 shares of the medical equipment provider’s stock valued at $460,000 after acquiring an additional 761 shares during the period. 25.64% of the stock is currently owned by institutional investors.

Smith & Nephew Trading Up 6.9 %

SNN stock opened at $28.09 on Wednesday. Smith & Nephew plc has a 1-year low of $23.65 and a 1-year high of $31.72. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11. The company has a market capitalization of $12.28 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 1.26 and a beta of 0.84. The business has a 50 day simple moving average of $25.11 and a two-hundred day simple moving average of $27.22.

Wall Street Analyst Weigh In

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

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.