PNC Financial Services Group Inc. Sells 26,458 Shares of Smith & Nephew plc (NYSE:SNN)

PNC Financial Services Group Inc. decreased its stake in Smith & Nephew plc (NYSE:SNN) by 72.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,857 shares of the medical equipment provider’s stock after selling 26,458 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Smith & Nephew were worth $269,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Clark Estates Inc. NY lifted its stake in Smith & Nephew by 18.2% in the fourth quarter. Clark Estates Inc. NY now owns 650,000 shares of the medical equipment provider’s stock valued at $17,732,000 after buying an additional 100,000 shares during the period. Scharf Investments LLC raised its position in shares of Smith & Nephew by 20.5% during the fourth quarter. Scharf Investments LLC now owns 2,980,334 shares of the medical equipment provider’s stock worth $81,304,000 after purchasing an additional 506,474 shares during the period. Wells Fargo & Company MN raised its position in shares of Smith & Nephew by 20.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,003,050 shares of the medical equipment provider’s stock worth $27,363,000 after purchasing an additional 173,448 shares during the period. Seed Wealth Management Inc. acquired a new stake in shares of Smith & Nephew during the fourth quarter worth about $213,000. Finally, Moran Wealth Management LLC acquired a new stake in shares of Smith & Nephew during the fourth quarter worth about $5,173,000. Institutional investors and hedge funds own 25.64% of the company’s stock.

Wall Street Analysts Forecast Growth

SNN has been the topic of a number of research analyst reports. UBS Group raised Smith & Nephew from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 5th. StockNews.com lowered Smith & Nephew from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Smith & Nephew Trading Down 1.1 %

Shares of Smith & Nephew stock opened at $24.51 on Tuesday. The business’s 50 day simple moving average is $25.17 and its 200 day simple moving average is $26.26. Smith & Nephew plc has a 52-week low of $21.52 and a 52-week high of $31.31. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.77 and a quick ratio of 0.72.

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. It 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; trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures; and other reconstruction products.