Short Interest in Smith & Nephew plc (NYSE:SNN) Decreases By 23.3%

Smith & Nephew plc (NYSE:SNN) was the recipient of a significant drop in short interest in January. As of January 15th, there was short interest totalling 2,140,000 shares, a drop of 23.3% from the December 31st total of 2,790,000 shares. Based on an average trading volume of 904,700 shares, the days-to-cover ratio is currently 2.4 days. Approximately 0.5% of the company’s stock are short sold.

Smith & Nephew Stock Down 1.1 %

Smith & Nephew stock traded down $0.28 during midday trading on Friday, reaching $25.38. 389,828 shares of the stock traded hands, compared to its average volume of 813,341. Smith & Nephew has a 12 month low of $23.65 and a 12 month high of $31.72. The stock’s fifty day moving average is $25.05 and its 200-day moving average is $27.64. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.51 and a quick ratio of 1.11.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SNN. Deutsche Bank Aktiengesellschaft downgraded shares of Smith & Nephew from a “buy” rating to a “hold” rating in a research report 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 downgraded shares of Smith & Nephew from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th.

Institutional Trading of Smith & Nephew

Several hedge funds have recently made changes to their positions in the business. Principal Securities Inc. increased its stake in Smith & Nephew by 87.6% in the fourth quarter. Principal Securities Inc. now owns 1,480 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 691 shares during the period. R Squared Ltd acquired a new stake in Smith & Nephew in the 4th quarter worth approximately $41,000. Hara Capital LLC grew its stake in Smith & Nephew by 391.4% during the 4th quarter. Hara Capital LLC now owns 2,457 shares of the medical equipment provider’s stock valued at $60,000 after purchasing an additional 1,957 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Smith & Nephew by 160.0% in the third 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 period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Smith & Nephew by 74.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,025 shares of the medical equipment provider’s stock valued at $94,000 after acquiring an additional 1,290 shares during the period. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

Smith & Nephew Company Profile

Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT.