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

Smith & Nephew plc (NYSE:SNN) shares saw strong trading volume on Friday . 2,453,133 shares were traded during mid-day trading, an increase of 185% from the previous session’s volume of 861,303 shares.The stock last traded at $24.75 and had previously closed at $24.79.

Analyst Ratings Changes

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

Smith & Nephew Trading Down 0.4 %

The business has a fifty day moving average of $26.29 and a 200-day moving average of $27.88. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth 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.

Hedge Funds Weigh In On Smith & Nephew

A number of hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its stake in Smith & Nephew by 1,894.3% in the 2nd 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 in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of 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 valued at $61,000 after buying an additional 1,179 shares during the period. GAMMA Investing LLC increased its position in Smith & Nephew by 160.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,257 shares of the medical equipment provider’s stock worth $70,000 after purchasing an additional 1,389 shares during the last quarter. Blue Trust Inc. increased its holdings in Smith & Nephew by 460.5% in the third quarter. Blue Trust Inc. now owns 4,658 shares of the medical equipment provider’s stock worth $145,000 after buying an additional 3,827 shares during the last quarter. Finally, Coerente Capital Management bought a new position in shares of Smith & Nephew during the 3rd quarter valued at $202,000. 25.64% of the stock is currently owned by institutional investors and hedge funds.

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.