International Assets Investment Management LLC Purchases New Position in Smith & Nephew plc (NYSE:SNN)

International Assets Investment Management LLC purchased a new stake in shares of Smith & Nephew plc (NYSE:SNN) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 24,663 shares of the medical equipment provider’s stock, valued at approximately $792,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lorne Steinberg Wealth Management Inc. increased its position in shares of Smith & Nephew by 53.6% during the second quarter. Lorne Steinberg Wealth Management Inc. now owns 231,045 shares of the medical equipment provider’s stock valued at $5,725,000 after buying an additional 80,650 shares during the period. Clearbridge Investments LLC purchased a new position in shares of Smith & Nephew during the first quarter valued at about $2,612,000. Sanctuary Advisors LLC purchased a new position in shares of Smith & Nephew during the second quarter valued at about $627,000. Tocqueville Asset Management L.P. increased its position in shares of Smith & Nephew by 294.9% during the first quarter. Tocqueville Asset Management L.P. now owns 224,441 shares of the medical equipment provider’s stock valued at $5,692,000 after buying an additional 167,599 shares during the period. Finally, Bank of Montreal Can increased its position in shares of Smith & Nephew by 355.8% during the second quarter. Bank of Montreal Can now owns 1,235,916 shares of the medical equipment provider’s stock valued at $31,059,000 after buying an additional 964,762 shares during the period. Hedge funds and other institutional investors own 25.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SNN shares. Deutsche Bank Aktiengesellschaft cut shares of Smith & Nephew from a “buy” rating to a “hold” rating in a report on Friday, November 1st. StockNews.com upgraded shares of Smith & Nephew from a “buy” rating to a “strong-buy” rating in a report on Monday, August 5th.

Smith & Nephew Trading Up 1.1 %

Shares of SNN opened at $25.56 on Wednesday. The firm’s 50-day simple moving average is $29.75 and its two-hundred day simple moving average is $27.86. Smith & Nephew plc has a fifty-two week low of $23.65 and a fifty-two week high of $31.72. 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 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.