Short Interest in Smith & Nephew plc (NYSE:SNN) Increases By 28.4%

Smith & Nephew plc (NYSE:SNN) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 3,120,000 shares, an increase of 28.4% from the October 31st total of 2,430,000 shares. Based on an average daily volume of 799,500 shares, the short-interest ratio is presently 3.9 days. Currently, 0.7% of the company’s stock are short sold.

Hedge Funds Weigh In On Smith & Nephew

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mather Group LLC. lifted its position in Smith & Nephew by 9,735.3% during the second quarter. Mather Group LLC. now owns 1,672 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 1,655 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in 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 valued at $43,000 after purchasing an additional 1,648 shares in the last quarter. GAMMA Investing LLC lifted its position in Smith & Nephew by 160.0% during the third quarter. GAMMA Investing LLC now owns 2,257 shares of the medical equipment provider’s stock valued at $70,000 after purchasing an additional 1,389 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Smith & Nephew by 92.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,454 shares of the medical equipment provider’s stock valued at $61,000 after purchasing an additional 1,179 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in Smith & Nephew during the second quarter valued at $101,000. 25.64% of the stock is currently owned by hedge funds and other institutional investors.

Smith & Nephew Stock Up 0.3 %

SNN stock opened at $25.78 on Monday. Smith & Nephew has a 1 year low of $23.65 and a 1 year high of $31.72. 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 stock’s fifty day moving average price is $27.58 and its 200-day moving average price is $27.90.

Analyst Upgrades and Downgrades

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

About Smith & Nephew

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.