PNC Financial Services Group Inc. increased its position in shares of Smith & Nephew plc (NYSE:SNN – Free Report) by 17.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,315 shares of the medical equipment provider’s stock after acquiring an additional 5,384 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Smith & Nephew were worth $900,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Scharf Investments LLC lifted its position in shares of Smith & Nephew by 15.7% in the third quarter. Scharf Investments LLC now owns 2,473,860 shares of the medical equipment provider’s stock worth $61,278,000 after purchasing an additional 335,276 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Smith & Nephew by 6.3% during the second quarter. Goldman Sachs Group Inc. now owns 1,217,822 shares of the medical equipment provider’s stock worth $39,275,000 after purchasing an additional 71,893 shares during the period. Bank of America Corp DE lifted its position in Smith & Nephew by 15.6% during the first quarter. Bank of America Corp DE now owns 1,019,990 shares of the medical equipment provider’s stock worth $28,468,000 after purchasing an additional 137,423 shares during the period. BlackRock Inc. lifted its position in Smith & Nephew by 103.2% during the second quarter. BlackRock Inc. now owns 1,005,408 shares of the medical equipment provider’s stock worth $32,424,000 after purchasing an additional 510,617 shares during the period. Finally, Lazard Asset Management LLC boosted its position in Smith & Nephew by 3.5% in the first quarter. Lazard Asset Management LLC now owns 954,239 shares of the medical equipment provider’s stock valued at $30,440,000 after buying an additional 31,912 shares in the last quarter. Institutional investors own 8.65% of the company’s stock.
Smith & Nephew Price Performance
SNN stock opened at $28.88 on Monday. The firm has a 50 day moving average of $27.64 and a 200 day moving average of $26.11. The company has a current ratio of 2.19, a quick ratio of 0.83 and a debt-to-equity ratio of 0.50. Smith & Nephew plc has a 52 week low of $21.52 and a 52 week high of $33.08.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on SNN. JPMorgan Chase & Co. upgraded shares of Smith & Nephew from a “neutral” rating to an “overweight” rating in a report on Friday, November 3rd. HSBC raised shares of Smith & Nephew from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Finally, Barclays raised shares of Smith & Nephew from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, November 28th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Smith & Nephew has a consensus rating of “Moderate Buy”.
Read Our Latest Stock Report on Smith & Nephew
Smith & Nephew Profile
Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices and services in the United Kingdom and internationally. The company 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; and trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures.
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Source: americanbankingnews.com
