Smith & Nephew plc (NYSE:SNN) Shares Sold by Riverwater Partners LLC

Riverwater Partners LLC lowered its position in shares of Smith & Nephew plc (NYSE:SNN) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,347 shares of the medical equipment provider’s stock after selling 400 shares during the quarter. Riverwater Partners LLC’s holdings in Smith & Nephew were worth $314,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Lorne Steinberg Wealth Management Inc. raised its holdings in shares of Smith & Nephew by 53.6% during the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 231,045 shares of the medical equipment provider’s stock worth $5,725,000 after acquiring an additional 80,650 shares during the period. Clearbridge Investments LLC acquired a new stake in shares of Smith & Nephew in the first quarter valued at $2,612,000. Sanctuary Advisors LLC purchased a new position in Smith & Nephew during the 2nd quarter valued at about $627,000. Tocqueville Asset Management L.P. lifted 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 worth $5,692,000 after purchasing an additional 167,599 shares in the last quarter. Finally, Bank of Montreal Can lifted 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 worth $31,059,000 after purchasing an additional 964,762 shares in the last quarter. 25.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on SNN. Deutsche Bank Aktiengesellschaft began coverage on shares of Smith & Nephew in a research note on Wednesday, July 24th. They set a “buy” rating on the stock. StockNews.com upgraded Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Smith & Nephew Stock Down 0.7 %

NYSE SNN opened at $29.23 on Thursday. The firm’s fifty day moving average price is $30.35 and its 200 day moving average price is $27.64. Smith & Nephew plc has a 12 month low of $21.52 and a 12 month high of $31.72. The company has a quick ratio of 1.11, a current ratio of 2.51 and a debt-to-equity ratio of 0.63.

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.