Van ECK Associates Corp Sells 3,199 Shares of Smith & Nephew plc (NYSE:SNN)

Van ECK Associates Corp cut its holdings in Smith & Nephew plc (NYSE:SNN) by 42.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,375 shares of the medical equipment provider’s stock after selling 3,199 shares during the period. Van ECK Associates Corp’s holdings in Smith & Nephew were worth $128,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SNN. US Bancorp DE grew its holdings in Smith & Nephew by 19.2% during the 3rd quarter. US Bancorp DE now owns 11,167 shares of the medical equipment provider’s stock valued at $348,000 after purchasing an additional 1,802 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in 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 purchasing an additional 626 shares during the last quarter. BKM Wealth Management LLC grew its holdings in Smith & Nephew by 183.3% during the 3rd quarter. BKM Wealth Management LLC now owns 20,057 shares of the medical equipment provider’s stock valued at $625,000 after purchasing an additional 12,978 shares during the last quarter. Coerente Capital Management bought a new position in Smith & Nephew during the 3rd quarter valued at about $202,000. Finally, Pinnacle West Asset Management Inc. bought a new position in Smith & Nephew during the 3rd quarter valued at about $251,000. 25.64% of the stock is currently owned by institutional investors.

Smith & Nephew Price Performance

Shares of SNN stock opened at $24.61 on Thursday. 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 simple moving average is $29.12 and its two-hundred day simple moving average is $27.87. Smith & Nephew plc has a one year low of $23.65 and a one year high of $31.72.

Analyst Upgrades and Downgrades

SNN has been the topic of several analyst reports. StockNews.com downgraded shares of Smith & Nephew from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Berenberg Bank downgraded shares of Smith & Nephew from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

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.