Smith & Nephew (NYSE:SNN) Sees Strong Trading Volume – Still a Buy?

Shares of Smith & Nephew plc (NYSE:SNN) saw strong trading volume on Friday . 796,808 shares traded hands during mid-day trading, an increase of 18% from the previous session’s volume of 672,756 shares.The stock last traded at $24.39 and had previously closed at $24.40.

Wall Street Analyst Weigh In

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

Smith & Nephew Stock Up 0.1 %

The company has a market cap of $10.68 billion, a P/E ratio of 12.46, a PEG ratio of 1.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11. The business’s 50 day moving average price is $25.30 and its 200-day moving average price is $27.80.

Hedge Funds Weigh In On Smith & Nephew

Several institutional investors have recently bought and sold shares of SNN. Allspring Global Investments Holdings LLC grew its holdings in shares of Smith & Nephew by 1,894.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,735 shares of the medical equipment provider’s stock worth $43,000 after purchasing an additional 1,648 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Smith & Nephew by 92.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,454 shares of the medical equipment provider’s stock worth $61,000 after buying an additional 1,179 shares in the last quarter. GAMMA Investing LLC grew its holdings in Smith & Nephew by 160.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,257 shares of the medical equipment provider’s stock worth $70,000 after acquiring an additional 1,389 shares during the last quarter. Blue Trust Inc. increased its position in Smith & Nephew by 460.5% in the 3rd quarter. Blue Trust Inc. now owns 4,658 shares of the medical equipment provider’s stock valued at $145,000 after acquiring an additional 3,827 shares in the last quarter. Finally, Coerente Capital Management bought a new position in shares of Smith & Nephew in the third quarter worth about $202,000. Institutional investors own 25.64% of the company’s stock.

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.