Franklin Resources Inc. Buys 16,397 Shares of Smith & Nephew plc (NYSE:SNN)

Franklin Resources Inc. increased its stake in Smith & Nephew plc (NYSE:SNN) by 16.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,080 shares of the medical equipment provider’s stock after buying an additional 16,397 shares during the period. Franklin Resources Inc.’s holdings in Smith & Nephew were worth $3,265,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brandes Investment Partners LP increased its position in shares of Smith & Nephew by 20.5% during the second quarter. Brandes Investment Partners LP now owns 1,373,051 shares of the medical equipment provider’s stock worth $34,002,000 after acquiring an additional 233,293 shares during the period. River Road Asset Management LLC bought a new position in Smith & Nephew in the third quarter worth approximately $38,588,000. Bank of Montreal Can increased its holdings in Smith & Nephew by 355.8% during the 2nd quarter. Bank of Montreal Can now owns 1,235,916 shares of the medical equipment provider’s stock worth $31,059,000 after purchasing an additional 964,762 shares during the period. Hsbc Holdings PLC raised its position in Smith & Nephew by 18.9% during the 2nd quarter. Hsbc Holdings PLC now owns 548,691 shares of the medical equipment provider’s stock valued at $13,607,000 after purchasing an additional 87,360 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Smith & Nephew by 58.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 524,602 shares of the medical equipment provider’s stock worth $12,995,000 after buying an additional 193,046 shares during the period. Institutional investors own 25.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Smith & Nephew Trading Down 0.4 %

Shares of NYSE:SNN opened at $24.44 on Thursday. The company has a market capitalization of $10.68 billion, a PE ratio of 12.47, a P/E/G ratio of 1.41 and a beta of 0.84. The company has a current ratio of 2.51, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. Smith & Nephew plc has a 12-month low of $23.65 and a 12-month high of $31.72. The business’s fifty day simple moving average is $26.05 and its 200-day simple moving average is $27.87.

Smith & Nephew Company 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.